Second phase of Fulcrum's River One Apartment
Though timing for the first phase of Fulcrum Property's River One project in West Sacramento is still to be determined, a second phase is already going through entitlement review.
On Thursday, West Sacramento's planning commission will review plans for a five-story, 95-apartment building at 721 and 735 Third St., simply called River One, Phase Two.
"We're confident in the project and we're excited about it," said Sarah Barkawi, vice president of marketing for Sacramento-based Fulcrum.According to the planning commission agenda, the 95-unit building would be on the northwest corner of the River One development site, an empty piece of land northwest of where Tower Bridge Gateway becomes Tower Bridge and directly south of the Ziggurat office building.
Apartments, ranging from studios to two bedrooms, would be rented at market rates and be above a one-story garage. Access to that garage's 61 stalls would come from a driveway on the north side of the building.
Square footages for apartments would range from 500 for each of the 17 studio units to 1,130 for each of the 35 two-bedroom units. The 43 one-bedroom units would each be 720 square feet.
Plans show the building lobby would face east, next to a 2,300-square-foot amenity space. The apartments would also surround a central landscaped area, and both plans and renderings show patios or balconies for the apartments themselves. A rooftop patio/lounge is also part of the proposal.
HRGA is the project architect.
River One's first phase, two seven-story buildings with 57 condominiums in one and 192 rooms in the other, got approvals in 2019. The two buildings, closer to the river than the new phase, would also have ground-floor retail and common areas between them.
Barkawi said Fulcrum is holding off on construction of that phase until financial markets and construction pricing get to a place that makes such projects more economically feasible.
In the meantime, she said, the company sees no reason not to continue planning subsequent phases of the project. The River One site overall has approvals from 2006 for up to 245,000 square feet of office space, up to 250 multifamily units, 42,000 square feet of retail and up to 300 hotel rooms.
West Sacramento's planning commission will also review another Fulcrum project near the city's riverfront, a seven-story, 260-apartment building at Riverfront and Mill streets in The Bridge District development. A five-story building with retail, amenities and office space is also part of that proposal.
Known as Phase VI, that project's construction will also depend on market conditions tied to construction and financing costs, Barkawi said.
By Ben van der Meer – Senior Reporter, Sacramento Business Journal
Aug 14, 2023