Downtown blockbuster: Kings, developer unveil luxury Capitol Mall high-rise project

Downtown blockbuster: Kings, developer unveil luxury Capitol Mall high-rise project

The Sacramento Kings and a prominent developer unveiled plans Tuesday for a 28-story Capitol Mall high-rise development, a project the two groups say will be the city’s first-ever luxury high-rise rental project.

The project plotted for Lot X at Third Street and Capitol Mall, long a parking lot for downtown’s office workers, could be downtown’s most dramatic architectural entry since the Kings’ Golden 1 Center debuted five years ago.

The high-rise will house 225 luxury apartments and an 80,000 square-foot office building, developer Southern Land Co. announced in a joint statement with the Kings. Groundbreaking is slated for 2023 with a 2025 due date. Nashville, Tennessee-based Southern Land Co. bought the 2.56-acre lower downtown lot from the NBA franchise.