Blighted Part Of K Street Poised For A Comeback

SACRAMENTO (CBS13) – The 700 block of K Street in downtown Sacramento looks almost like a forgotten part of the city, but it's about to undergo a major facelift.

The city approved funding for a new major development project this week.

"This project is going to have 14 different retail leases, they are talking about residential up above, rooftop patios right across the street from a facility that's under construction," said Michael Ault, executive director of the Downtown Sacramento Partnership. "That's going to bring 2 million people a year to the downtown core."

Developers are expected to build a $51 million housing, retail and entertainment project that is expected to be finished around the same time the new Kings arena being built nearby opens.

"It's been a lot of up and down and to see revitalization is really good news," said Michele Porter.

Porter has owned nearby G. Rossi Florists for 14 years and has seen many changes on this block. But she says this new project is what she's most excited about.

"More people in your area means more revenue," Porter said.

More revenue and excitement that the city and local business owners hope will send a ripple effect through downtown.

"You're going to be able to have that connection from K Street through this project into Old Sacramento, so this is a way really to capitalize on a lot of the linkages but also in ways to really have much more of a complete experience for us downtown," Ault said.

Downtown Sacramento Partnership says the next step is working to get more interest in this area from potential buyers and retailers.

Construction could start as early as the end of the year.

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