Business Journal: Studio FIG, @ The Grounds, Bay Miry

A new mixed-use project, with more than 70 upscale apartments, broke ground in midtown Sacramento this week. It's at 1430 Q Street. The Sacramento Business Journal's Digital Editor Sonya Sorich says the eight and a half story structure will be built with wood.

"It's expected to be about 25 percent cheaper than the typical steel or metal construction on this kind of building," says Sorich. "That also makes it more environmentally sustainable. It's actually expected to be the tallest wood stick frame building in the United States."

Local developer Bay Miry is involved with the project and says there's a market desire for a variety of housing, including upscale units. Rents are still being determined. The project will also include 9,000 square-feet of ground floor retail. It's expected to be finished by the end of 2019.

The owner of a retail space in midtown Sacramento - 1600 H - is trying something new to find tenants. Sorich says Fulcrum Property is sponsoring a week's worth of rent to a locally owned business called Studio FIG.

"Other temporary or pop-up businesses are expected to follow," says Sorich. "Maybe including local makers and artists. The ultimate goal is to reignite interest in the space and find a long-term tenant."

Studio FIG — which stands for fashion, interior and graphic design — will sell clothing and other products. The pop-up space was previously a yoga studio. Mixed-use projects in Sacramento have had varied success filling first-floor retail space.

Renovation work continues at the Placer County Fairgrounds in Roseville. Sorich says it even got a new name this week.

"It's re-branding as @ The Grounds. And that is that digital 'at' symbol that you see on your computer's keyboard and on Twitter," says Sorich. "This new name is designed to reflect the fact that this venue can host all sorts of different events, not just the Placer County Fair."

In addition to the $8 million initial renovation that's underway, Placer Valley Tourism plans to ultimately develop a $32 million indoor sports and event center at the site.