Business Journal: B Street Condos On Hold
A new theater is the latest casualty of the real estate slowdown.
Sunday, September 28, 2008
The B Street Theatre’s plans for a new home on Capitol Avenue are still on track, but the top-floor condominiums that would help pay for the project will be delayed – and that will affect the schedule for the theater. Construction is at least a year away for the B Street theater – and the curtain will not likely rise for at least two years after that, largely because of the downturn in the housing market. SKK Developments will build the shell of the theater and 95 condos above it, saving the theater millions of dollars. Sutter Health donated the land on its campus between 26th and 27th streets, worth an estimated $6 million. The cost of the improvements inside the 250-seat theater building is about $10 million.