Get used to it...a big hole in the ground...at least for the next 18 months.

CalPers announced that it is taking over the debt-ridden proposed 53 story luxury tower and has retained LA-based developer CIM group to evaluate future use of the space. The future project will most likely contain a hotel and some condos, but will be nothing of the size or scope of the failed SACA Towers project. Timing of the evaluation is likely to be 18 months.

That's a long time for the gateway to Sacramento to have a giant hole in the ground. Remember when we were all so excited about all the frenzy of downtown development plans?

Gillian Parrillo
The Sacramento Executive