Sacramento’s Million-Dollar Condos Have Secret Tunnel to Kings Arena
(Bloomberg) -- The $500 million Golden 1 Center, home to the NBA's Sacramento Kings, opened in October 2016. Since then, the stadium has served as the centerpiece to Sacramento's Downtown Commons redevelopment program (DOCO), which also will include a soon-to-be-completed 16 story hotel/ luxury condo development called the Sawyer.
Renderings of the site include a plaza filled with shops and restaurants, a fountain crowned by a translucent sculpture, and a Benetton ad’s worth of laughing twentysomethings carrying shopping bags. “Sacramento is the next Great American City,” the project's website reads. “And DOCO is our common ground.”
Yet, should owners of the new condos—which can cost as much as $4 million—find that common ground a little too common, its developer has built an underground tunnel that runs from the building directly into the stadium.
“I don’t want to sound snobby—you could go and stand outside, but why would you when you have the opportunity to go through a VIP tunnel?” asked Christopher Miller, vice president of The Agency Development Group, the broker handling sales for the building. “You’re not going to wait in line, you’re going to walk right in. It’s a level of exclusivity that you and your family are going to enjoy.”
The tunnel, which runs from the residents’ parking garage to the stadium’s VIP lounge, will be accessible to all residents and their guests. Ownership of any condominium at The Residences at The Sawyer, Miller said, comes with access to the VIP lounges and seating for Kings home games. (Concerts, which are generally run by a promoter that rents the arena, are a different story.) Still, Miller said, “that’s the thing about our concierge service” (provided by The Sawyer). “You’ll have access to sold-out events that other people won’t have access to.”
The condominiums, which sit on the top five floors of the building (the rest will be a Kimpton Hotel), range from one to three bedrooms. Prices start at $600,000, for a one-bedroom, and go up to $4 million, for one of six penthouses.
The building is developed by San Francisco-based JMA Ventures LLC, and will include a residents’ lounge, an outdoor pool, access to the Kimpton’s hotel services, and a full-time doorman. The building is scheduled to be completed in late 2017.
“This level of service and level of carefree living and lifestyle don’t exist yet in Sacramento,” said Miller. “The response has been so favorable because everyone so excited about something that’s never been offered.”
To contact the author of this story: James Tarmy in New York at email@example.com.