To see how Sacramento is managing the economic crisis, visit Fifth and K streets. That’s the heart of the Downtown Commons entertainment center. It’s a six-block stage where the city’s recovery will play out in miniature.
Until March, DoCo represented everything grand and hopeful about Sacramento. The whale was Golden 1 Center, drawing audiences from valley to foothills. Profitable symbiotic relationships formed with multiple restaurant groups, including Yard House, Polanco Cantina, Sauced BBQ, Punch Bowl Social and Echo & Rig, plus a handful of retailers and the Sawyer Hotel.
For almost 40 years, the Kings have feasted on a narrative that portrays the basketball team as a public treasure rather than a business. The story is fantasy. The Kings are a business. Their goal is to make money for their owners. It’s been this way since 1983, when a Sacramento group bought the team. And it’s true today.
When the coronavirus pandemic wiped out the NBA season and shuttered Golden 1 Center, the Kings, like any business, faced a crisis. Their cash-flow generator was gone overnight. But the Kings found a side hustle. They became hospital landlords.
Cuts Needed, But Where? City scrambles to avoid budget woes By R.E. Graswich June 2020 Before the coronavirus turned everything upside down, Sacramento City Hall was an optimistic place.The city’s budget for 2019-20 sang positive notes across its 451 pages. Revenue...
Adapt or Else Kings, NBA need creative recovery after virus By R.E. Graswich June 2020 In my fourth or fifth year covering the Kings, loss after loss, I thought about ways to make the NBA season more interesting. One obvious trick was to shorten it. I drew up a...
Cultural arts groups in Sacramento and the venues that host them often live on the financial edge. They know how to persevere. In recent years, many have thrived.
Now they are shuttered by contagion. Ticket sales are zero. Philanthropy has slowed. The only good news involves the Downtown convention center and theater. They didn’t lose any business because they were already dark.
When we are confronted with the unexpected or the unimaginable, it can feel impossible to look past the here and now. As the COVID-19 health crisis continues to spread, the world has changed dramatically. Yet, through it all, there have been beautiful examples of our community pulling together and picking up the pieces.
Sacramento is America’s Farm-to-Fork Capital. We built this designation with the hard work, creativity, and ingenuity of our many restaurants and businesses. Innovation has been the key to building and sustaining our economy during “normal” times and now, more than ever, we must to use our imagination and determination to find a new path forward.