Press Release
March 23, 2007
CADA Selects Two Developers for 16th and O Street Mixed-Use Projects
During their March 23, 2007 regular board meeting, the Capitol Area Development (CADA) Board of Directors has selected SKK Development and Ravel Rasmussen Properties to enter into negotiations for the next 60 days regarding East End Gateway 2 (EEG 2) and East End Gateway 3 (EEG 3). The two sites are prominently located at the northwest and southwest corners of 16th and O Streets.
The selected proposal for EEG 2 is from SKK Developments and involves 70 for-sale condominiums, 4,300 square feet of retail and 102 parking spaces on the northwest corner of 16th and O Streets. The proposal calls for Ankrom Moisan as the architectural firm and it is expected that the design will take advantage of the Capitol Park views.
The EEG 3 proposal by Ravel Rasmussen Properties includes the development of 45 apartments, 7,200 square feet of ground floor retail and 59 surface parking spaces on the southwest corner of 16th and O Streets. The architectural firm for the project is Gordon Chong Partners and a Spanish Colonial revival design is suggested.
SKK Development and Ravel Rasmussen Properties submitted proposals for both sites. The CADA Board of Directors opted to divide the sites between the two developers, both of whom have outstanding reputations for quality infill development.
For more information, contact Tom Kigar, CADA Development Director at (916) 322-2114.
