K Street making a comeback as the 'artery' of downtown Sacramento

What was known as the 'artery' of downtown Sacramento in the past, has some fresh oxygen pumping again.

Thousands of Paul McCartney fans swarmed the arena area before and after the show, stopping at nearby businesses on K Street. 

Malt and Mash Irish Pub opened in September, just in time for the hustle and bustle the Golden 1 Center is expected to continue to bring.

"We were slammed up until about 7 p.m. when they started letting people into the show," said Matt Evans, manager of Malt and Mash. 

The pub was full again after the show, and was much busier overall than it is on a regular day, according to Evans.

Peter Riccobono manages Coin-Op Game Room- a fairly new business on K Street. The arcade, food and bar establishment had a good night, even though their business demographic is different from Paul McCartney concertgoers, according to Riccobono.

Riccobono said Coin-Op is starting to bring in more staff to prepare for the influx of people they're expecting before and after Kings games. 

"It's 100 percent one of the main reasons we chose this location," Riccobono said.

For many decades, K Street was known as an entertainment street or as theater row, explained Emilie Cameron, spokesperson for the Downtown Sacramento Partnership. 

K Street suffered after a suburban flight in the city, according to Cameron.

Today, there's a redevelopment effort with having the arena so close to K Street. D&S Development and CFY Development proposed a more than $55 million project that will rehabilitate the 700 block of K Street. The project will feature about a dozen businesses as well as 134 mixed-income residential units, according to Cameron.

So far, the owners of Kru, a popular Japanese restaurant, are planning to open a new business in the development. Insight Coffee is also confirmed to be joining in on the project, Cameron said. The project is expected to be ready in the Spring of 2017.

"We're going to continue to see it evolve," Cameron said. "You can feel a lot of excitement. It's pretty incredible to see people who haven't been downtown in decades re-experience K Street." 

She said there's a major interest by business owners for locations on K Street because of the close proximity to the Golden 1 Center.

Rent costs for these locations vary, according to Valerie Mamone, Senior Manager for Business Development with the Downtown Sacramento Partnership. 

She said the market rate for retail locations is definitely going up- well above $250 per square foot.

Interest for snagging a location on K street has grown outside the region, Mamone said. While unable to disclose identities, Mamone said some big names businesses have come and toured K Street.

K Street has the most opportunities downtown for new retail development, according to Mamone.

K Street saw a 20 percent increase in pedestrian traffic for opening night at the Golden 1 Center compared to last Tuesday, Mamone said.

As other big name acts such as Bon Jovi and Tim McGraw and Faith Hill are set to rock the Golden 1 Center, that pedestrian count will likely continue to grow.

Copyright 2016 KXTV


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