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Developers break ground on The Press, Midtown’s largest residential community | Business

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Developers break ground on The Press, Midtown’s largest residential community
Business
Developers break ground on The Press, Midtown’s largest residential community

DeBartolo Development and SKK Developments today broke ground on The Press at Midtown Quarter, a 277-unit multifamily community that covers the entire city block of 21st & Q Streets. The Press is the largest residential project currently under construction in Midtown Sacramento.  

 

Located on the site of the former Sacramento Bee parking garage, the 4-story apartment community will include studios, 1-, 2- and a few 3-bedroom units ranging in size from 450 to 1,300 square feet with 8,000 square feet of ground floor commercial space and 310 parking spaces (for visitors and tenants). Amenities will feature a resort-style pool, outdoor kitchens, state-of-art fitness center, bike lounge, pet spa, package lockers and more. The project’s name pays homage to the McClatchy Company’s (owners of the Sacramento Bee) long-term commitment and contribution to the Midtown Quarter.

 

“Groundbreaking on The Press denotes a major step in bringing greater density to Sacramento’s urban core,” said Sotiris Kolokotronis, President of SKK Developments. “Our commitment to delivering housing is as strong as it was nearly 20 years ago when we introduced our first mixed-use project to Midtown.”

 

Alongside SKK Developments is nationally-recognized development partner DeBartolo Development. “We’re excited to begin construction on The Press, the first of hopefully many projects in Sacramento,” said Scott Waddington, Managing Director of DeBartolo Development. “For a metropolitan region of its size, Sacramento is due for the resurgence being seen across major cities throughout the country and DeBartolo is eager to contribute to this momentum.”

 

The Midtown Quarter is comprised of three development projects by SKK Developments and partners; The Press, Q19 Apartments and 20PQR Townhomes. Together, the three projects total nearly 400 units and create the highest concentration of housing in Midtown Sacramento. The Midtown Quarters’ proximity to employment, restaurants, bars and Midtown activity afford residents an increasingly urban and sustainable lifestyle. 

 

“With nearly 300 units, The Press Building will help address the acute housing shortage in Sacramento, particularly in the Central City,” said Sacramento Mayor Darrell Steinberg. “It also represents our city’s new identity as a place that cares for and nurtures our urban fabric. A block that was once dedicated to parking cars will now be filled with hundreds of people who will have many choices about how they get around, from JUMP bikes to the 260 electric car-share vehicles that will soon be coming as part of our agreement with Electrify America. They will help determine the shape of our city, state and nation in the future. Thank you to the entire Kolokotronis family.”  

 

“Centrally located in what is known as the Midtown Quarter corridor, The Press plays a vital role in the continued emergence and evolution of Midtown,” said Emily Baime Michaels, Executive Director of the Midtown Association. “In addition to serving an overwhelming demand for residential housing, the project is in the perfect location to utilize a planned passenger rail train connecting to the Bay Area and very popular dog park.”

 

 

The Press is anticipated to be completed Spring 2020.

 

About DeBartolo Development

Built on a legacy of more than seven decades, the DeBartolo name is recognized as an icon in the real estate industry. Since our beginnings in 1944 when legendary entrepreneur Edward J. DeBartolo, Sr. pioneered the first shopping mall concept and developed some of the most well-known and nationally-recognized shopping landmarks, our legacy has been synonymous with success. Today, DeBartolo Development is one of the largest private real estate investment and development companies in the country and invests in real estate assets of all sizes and scopes, specializing in opportunistic acquisitions and market-driven, ground-up development of multifamily, hospitality, retail and mixed-use projects throughout the United States. For more information about DeBartolo Development, please visit our Website at www.debartolodevelopment.com.

 

About SKK Developments

SKK Developments is a real estate firm that specializes in mixed-use and multi-family development projects in Midtown Sacramento. SKK Developments’ past projects, such as the Fremont Building, 1801 L and L Street Lofts, have played an integral role in placemaking and often been earmarked as catalysts for the revitalization of Midtown Sacramento. Currently SKK Developments has nearly 500 units under construction within Sacramento’s urban core and an additional 1,000 units in the planning and entitlements process. For more information please visit: www.skkdevelopments.com.

 

About Midtown Sacramento

The mission of the Midtown Association (MA) is to create a center for culture, creativity and vibrancy in Sacramento’s urban core. For more information about MA, call 916-442-1500, visit www.exploremidtown.org. or follow on social media – Facebook at www.facebook.com/exploremidtown/ and @ExploreMidtown on Instagram and Twitter. 

 

 

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