February 7, 2016 Comments Off on CalPERS, CIM Envision 30-Story Capital Mall Tower Views: 681 Bay Area, California News

CalPERS, CIM Envision 30-Story Capital Mall Tower

Los Angeles developer CIM Group and partner CalPERS have revealed design plans for a 30-story, 1.1-million-square-foot office tower in Sacramento. The “hole in the ground,” as the vacant site is known, could revive the western end of Capital Mall, with a mix of offices, retail and 100 apartments.

Gensler’s conceptual designs depict a 420-foot tall structure, the second tallest in the city. The “preliminary vision” includes retail and creative office spaces, a public landscaped terrace, and outdoor terraces for office and apartment occupants.

For 11 years, the site has sat idle since CalPERS pulled the plug on a previous developer. The CIM/CalPERS project stillneeds to secure building permits, undergo the city’s entitlement process, as well as line up an anchor tenant before an expected ground-breaking in two years.

Read more at Sacramento Bee

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