Business Journal: March Madness Canceled At Golden 1 Center; Midtown Target Planned; Restaurant Closures & Openings

Limited March Madness Attendance

The NCAA has canceled its men's and women's basketball tournaments because of the spread of the coronavirus. That includes the March Madness games set for next Friday, March 20 and Sunday, March 22 at Golden 1 Center in downtown Sacramento.

2017 was the last time Golden 1 hosted the college games, which had a $4 million economic impact on the city. The Sacramento Business Journal's Sonya Sorich says city officials anticipated an even higher dollar figure this year.

"The total economic impact was estimated to be more than $5 million," says Sorich. "Around 19,000 spectators were expected to attend the Sacramento tournaments, including almost 8,000 who were expected to come from out of town."

That's in addition to more than 1,000 players, coaches and other participants. The NCAA's original plan to play in mostly empty arenas was scrapped as every major American sports league from the NBA to MLB put the brakes on its season because of concerns about the pandemic.

Target Eyes Midtown Site

Retail giant Target wants to open a store in Midtown Sacramento. It would be at 17th and J streets, which used to be an Office Max. The space is about 23,000-square-feet. Sorich says a typical Target is 130,000-square-feet.

"But in recent years, the company has opened more small-format stores, particularly in urban areas,” says Sorich. “So while smaller than other Target locations, the possible midtown store wouldn't be out of the ordinary."

Target has filed an application with the city to remodel the existing building.

Culinerdy Kitchen Closes, Bronston’s Seafood Opening

The locally owned Culinerdy Kitchen has closed after less than a year of business. It filled a space across from the La Valentina apartment and retail project. Its space was previously occupied by at least two different Mexican restaurants.

“An operator of Culinerdy Kitchen attributed the decision partially to location issues,” says Sorich. “He cited a lack of parking, and said misconceptions about safety and homelessness in the area affected his business.

Meanwhile, a locally owned eatery is lined up to fill the former Blue Prynt space downtown at H and 8th streets.

“It’s a seafood restaurant called Bronston's, which has ties to Chason's Crab Stadium in Elk Grove,” says Sorich.

It’s expected to open in the next three to six months.

“And this restaurant space is pretty large: It's 10,000 square feet and two stories,” says Sorich. “With all the challenges surrounding restaurants these days, we don't often see new businesses open in these large empty spaces.”