Press

Plans in Works for Long-Vacant Downtown Redding Property

Local developer K2 Development is in escrow to purchase a vacant lot at the corner of Shasta and Market streets in Redding, California, with plans to build a three-story building featuring artsy, one-bedroom apartments and an indoor-outdoor restaurant. The project is expected to take about 16 months to complete and could open for business in late 2023. K2 has previously worked on the redevelopment of downtown Redding, including the construction of the 82-unit Market Center building and the Block 7 development, which will feature 79 affordable apartments and 20 market-rate units. The vacant lot has previously been used as a parking lot and was formerly a gas station.

Source: Redding Record Searchlight

78 More Affordable Apartments in $111M Block 7 Project

Construction has begun on 78 affordable apartments in three buildings as part of the $111 million Block 7 project in downtown Redding, California. The one- and two-bedroom units will range from 680 to 880 square feet and will be available at mixed-income rates from 30% to 80% of the area's median income. The apartments are expected to be move-in ready by late 2022 and will complement the 84 affordable apartments that opened in the area last year. The Block 7 project is being developed by the McConnell Foundation in partnership with K2 Development and the City of Redding.

Source: Redding Record Searchlight

Photo of the Kennett Court Apartments in Redding, CA.

Affordable Apartments Fill Up on Lake Boulevard

The first phase of Kennett Court Apartments has been fully leased. Construction on the second phase of the Kennett Court Apartments, an affordable housing complex in Redding, California, is underway. The first phase of the development, which consists of two buildings with 48 units, was leased out by early March. The apartments in the complex are targeted towards low-income families making 35% to 60% of the area's median household income. The development is being built by K2 Development, the same company that built the fully leased out Market Center apartments in downtown Redding. The need for affordable housing in the area has increased following the Carr Fire in July 2018 and the COVID-19 pandemic.

Source: Redding Record Searchlight

Photo of ribbon cutting at Market Street grand reopening.

Redding Celebrates Market Street Reopening

The grand reopening of Market Street in Redding, California took place on Wednesday, February 23, 2021 with more than 100 people gathering to witness the event. The street had been closed for 49 years and was reopened to vehicle traffic. The event featured a parade of antique cars, a fire truck, police cruiser and cyclists. The street's reopening was part of a larger project called the Downtown Streets Circulation project, which was sparked by the redevelopment of a former department store and received funding from a $20 million state grant. The street will feature one-way and two-way traffic and time-restricted parking. The reopening was welcomed by local businesses, which had endured the construction process.

Source: Redding Record Searchlight

“What we have going down here is special” Downtown Redding Update

David Benda explores redevelopment efforts in downtown Redding where over the past few decades have brought in various signs of progress, including the Market Street Demonstration Block, the Market Street Promenade, the redevelopment of the Cascade Theatre, and Cascade Square. Despite these efforts, downtown Redding has remained primarily a Monday-through-Friday destination for workers. However, the recent development of multi-million-dollar projects such as Market Center, Block 7, and the new Shasta County Courthouse has led to a ripple effect of smaller projects that are bringing more housing to the area and making downtown more livable and walkable.

Source: Redding Record Searchlight

Mural of cowboy hats and flying flapjacks.

What’s Behind Redding’s Color-Splashed Murals

Seven murals featuring local scenes and landmarks, such as the Sundial Bridge and Tiger Field, will be displayed on the sides of the new Market Center in downtown Redding. The four-story mixed-use building, which includes apartments on the top three floors and retail space on the first floor, is set to have a grand opening on February 24th. The murals, created by artist Vincent Sacco and his team, were inspired by research into the history and culture of Redding, and are meant to represent the city's recreation and beauty. The bright, vibrant colors of the murals were chosen to stand out in Redding's sunny weather.

Source: Redding Record Searchlight

Photo of the Market Center Steam Whistles art installation.

The New Market Center Steam Whistle Blows for the First Time

A public art installation featuring three steam whistles has been erected outside the new Market Center building in Redding, California. The whistles, which stand about 20 feet high, will sound every Friday at 5 p.m. to signal the end of the work week and the start of the city's weekend nightlife. The installation is intended to pay tribute to Redding's industrial past and signal its industrial future, and was created by Modus Studio as part of the city's streetscape project.

Source: Redding Record Searchlight

Photo of Market Center building in Redding, CA.

Market Center Apartments Leased Up

The streets around the new Market Center in downtown Redding, California, will open to vehicular traffic on February 5, according to Deputy City Manager Steve Bade. The mixed-use building, which features residential apartments on its top three floors, was supposed to open in December, but wet weather has delayed the project. The new parking garage under the Market Center opened on January 8 and features metered public spaces. The building's owner, K2 Development, has also fully leased the apartments and is in negotiations with potential retail tenants for the ground floor, with plans to launch a marketing campaign in February to coincide with the reopening of the streets.

Source: Redding Record Searchlight

Photo of the Market Center building in Redding, CA.

Market Center Apartments Ready for Move-In

The Market Center building in downtown Redding, California, is a $38MM mixed-use affordable housing project on Market Street, featuring 82 affordable housing units on three floors and retail space at street level. The building's CEO, Daniel Knott, says it has a "broad range of tenants" and is "really happy to welcome our residents to their new homes". A $12MM City of Redding street project will open up the grid where the Downtown Mall once stood, and the "Block 7" project, featuring a new parking structure, retail space and affordable housing, is under construction just to the west of the Market Center.

Source: KRCR News Channel 7

Projects that Helped Shape Redding in 2020

The Block 7 project in Redding, California, is a partnership between the McConnell Foundation, K2 Development and the city of Redding. The project, which is being developed on the site of the former California Street parking structure, will feature seven multi-story buildings with affordable and market-rate apartments, office and commercial businesses and Shasta College programs. Foundation work on a new six-story parking structure with 380 spaces began in December and is expected to be finished in January, with construction of the parking garage set to start soon after. The structure is expected to be finished in late 2021. Work on the five-story north tower is set to start in spring 2022, with Shasta College occupying three floors of the tower. The three separate buildings that will house 78 affordable apartments are expected to be ready for tenants in summer 2022.

Source: Redding Record Searchlight

Homeless Shasta County Residents to Move Into Long-Term Housing

Five houses in Anderson and Shasta Lake in Shasta County, California, will be the first in the county to house homeless residents in a new program led by Hill Country Health and Wellness Center, a local medical nonprofit. The houses will accommodate a maximum of three people each and offer medical and other services to residents. The program is only open to people who do not have stable housing and who pass criminal background checks for the Section 8 rent subsidy program for low-income individuals. Hill Country will partner with the Shasta County Health and Human Services Agency to determine eligibility for the program, which is expected to begin in January. ADK Properties LLC, a subsidiary of K2 Development Company, has purchased and is renovating the houses.

Source: Redding Record Searchlight

Ribbon cutting ceremony at downtown garage.

Downtown Parking Garage Now Under Construction

Foundation work has begun on a new six-story parking structure in the Block 7 development in Redding, California. The development, a partnership between the McConnell Foundation, K2 Development and the city of Redding, will feature seven multi-story buildings including affordable and market-rate apartments, office and commercial businesses, and Shasta College programs. The parking structure, set to open in late fall 2021, will have 398 spaces for building tenants and the public, and will cost money to park in. Work on the five-story north tower, which will house Shasta College programs, is expected to start this spring, with the three buildings of 78 affordable apartments set to begin construction after the north tower is complete.

Source: Redding Record Searchlight

A group of people at a ribbon cutting ceremony in Redding, CA.

California League of Cities issues a $36.3MM bond for an affordable housing project in Redding, CA

The California League of Cities-sponsored bond agency has issued $36.3m in tax-exempt bonds for an affordable housing project in Redding, California. The project, called Block 7 Downtown Apartments, will be built by K2 Development Companies and will provide 80% of the rental housing units as rent-restricted for low-income tenants. The project will also include market-rate apartments and a combined retail space. The financing for the project will maintain the affordability of the units for low-income tenants for 55 years.

Source: California League of Cities

The City of Shasta Lake may be getting a face lift

The City of Shasta Lake in California is working with several agencies to apply for a state grant to revamp the city with a focus on affordable housing and transportation. If approved, the project would include 49 affordable housing units, retail space, and new roads with more access for pedestrians and cyclists. The project is being called the Shasta Lake Downtown Revitalization Project and will be located in the center of the city on both sides of Shasta Dam Boulevard. The city and its partners will submit an application with the developer's renderings by February 11. The state will decide who gets the grant in May and if The City of Shasta Lake is chosen, it will have five years to complete the project.

Source: KRCR News Channel 7

An artist's conception of the new Center of Hope housing unit.

Center of Hope Housing with Supportive Services Moving Forward

The Shasta County Board of Supervisors in California has approved an application for between $2.5MM and $5MM in funding from the state's No Place Like Home program for a $22MM apartment complex for homeless individuals with a serious mental illness or at risk of homelessness. The project, which still needs to be permitted by the City of Redding and requires additional funding, will consist of 49 units, 15 of which will be designated for homeless residents with a severe mental illness, while the remaining units will be market-rate affordable apartments. The McConnell Foundation and K2 Development Companies, working under the name ADK Properties, will own the project and Hill Country Health and Wellness will provide client services.

Source: Redding Record Searchlight

A group of people at the Block 7 ribbon cutting ceremony.

AHSC – Activating Downtown Redding Through Walking, Biking, and Affordable Housing

The City of Redding in California has received $20 million from the state's Affordable Housing Sustainable Communities Program to develop the Block 7 Net Zero Housing and Downtown Activation Project. Led by K2 Land and Investment and a number of other community organisations, the project will create 78 homes and over 12,000 sq ft of retail space, as well as nearly four miles of bike lanes and over half a mile of sidewalks. The development will also include a bikeshare programme, active transportation education and urban greening elements that will complete a river trail connection from Turtle Bay Exploration Park to downtown Redding.

Source: California Climate Investments

Photo of a group of people at a ribbon cutting ceremony.

Redding Community Receives $24 Million in Funding for Downtown Revitalization Projects

The City of Redding in California has received $24 million in funding from the state for downtown development projects. The funding includes a $19.9 million Affordable Housing and Sustainable Communities grant for the Block 7 Net Zero Housing and Downtown Activation Project, a mixed-use development in downtown Redding that will offer housing and transportation amenities, and a $4 million grant for additional parking in the downtown area. The Block 7 project was a joint submission by K2 Land and Investment, The McConnell Foundation, the City of Redding, and the Community Development and Revitalization Corporation. The funding builds on the momentum of ongoing revitalization efforts in the city, including a $20 million grant for the Redding Downtown Loop and Affordable Housing Project and $155 million in state funding for a new courthouse in downtown Redding.

Source: The McConnell Foundation

Photo of ribbon cutting at newly completed Redding project

Project would link River Trail to downtown Redding

The city of Redding, California is proposing improvements to the Diestelhorst-to-downtown trail in order to connect the Sacramento River Trail to the downtown area as soon as next summer. The $2.6 million grant-funded project includes lighting along trails and routes, completion of sidewalk gaps, a cycle track and pedestrian path, pavement striping, parking, crosswalks, warning beacons, signs, and a refuge island for pedestrian crossing. There are three options for a short section of Riverside Drive between Court and Center streets: keep it open to cars in both directions, make it one-way only, or close it off entirely. The project coincides with several other plans for downtown Redding, including the development of a four-story mixed-use building by K2 Development Companies and potential funding for a similar project by K2 and the McConnell Foundation to replace the northern half of the downtown parking garage.

Source: Redding Record Searchlight

Photo of two men viewing demolition of an old building.

Redding Chamber of Commerce to Host Wrecking Ball Party for Demolition of Old Dicker's Department Store

The Redding Chamber of Commerce is planning to host a party to celebrate the demolition of the old Dicker's department store in the Market Street Promenade and the groundbreaking for a new four-story, mixed-use building that will feature apartments, office, and retail space. The $38 million project is being developed by K2 Development Companies and aims to fill the ground-floor retail space with as many local businesses as possible, although there is also interest from national retailers. The new building is part of Redding's efforts to transform its downtown area and update its specific plan.

Source: Redding Record Searchlight