Ro Sham Beaux Planned In Midtown
A former auto body shop at 24th and J streets in Sacramento is being converted into retail space. Sorich says one of the businesses in that space, Ro Sham Beaux, has a tie to de Vere's Irish Pub, the popular restaurant and bar in Midtown and in Davis.
"Henry de Vere White, one of the owners of de Vere's, is listed as a manager of this upcoming business, according to information from the California Secretary of State," says Sorich.
A document from the Secretary of State suggests it'll be a wine bar, but so far there are no details.
McClatchy Files For Chapter 11
The Sacramento-based McClatchy Company filed for Chapter 11 bankruptcy Thursday. McClatchy is the parent company of the Sacramento Bee and many other newspapers throughout the country. The Sacramento Business Journal's Sonya Sorich says the company's papers are expected to continue operating during the bankruptcy process.
"In the bankruptcy filing, McClatchy is proposing a new owner, a hedge fund that would operate McClatchy as a privately held company," says Sorich.
The move is part of an effort to restructure debt and address pension obligations.
"Last year, McClatchy revealed some of its pension challenges," says Sorich. "At the time, the company said its underfunded pension plan threatened the company's liquidity. Those challenges are made worse by declines in advertising revenue and daily print circulation."
McClatchy has been selling assets and cutting jobs for years as it struggles to get out of debt from its acquisition of the media company Knight Ridder more than a decade ago.
More Projects Announced For The Railyards
Developers are adding to the number of new projects planned for the Railyards, north of downtown Sacramento. Sorich says Cushman and Wakefield was named as the leasing team for the Railyards.
"With the announcement, Cushman & Wakefield released a new site plan for the 244-acre property,” says Sorich. “The announcement included previously unreported elements in the Railyards, such as a music venue, a hotel and possibly a large fitness space."
That's in addition to several projects previously announced including: a Major League Soccer stadium, a retail area, office space, a replacement Sacramento County Courthouse and a multi-family housing project. A new Kaiser Permanente medical center is also planned in the Railyards' northwest corner. That could open in 2025.
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