Stitch in the Bee & Harv’s top chef.

“Bob Shallit: Condo developer shops for lots on capital alleys
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Buzz up!By Bob Shallit
bshallit@sacbee.com
Published: Saturday, Oct. 24, 2009 – 12:00 am | Page 4B
Jeremy Drucker is looking for land. Lots of it.

The Sacramento developer has been working for the past year on plans to build condo units along alleys on the back portions of existing deep home lots in the central city.

His model complex, on the “Old Soul” alley in midtown, is about to break ground. He recently purchased another parcel near 22nd and L.

Now he wants more.

“We’re looking for multiple sites, and we’ll buy them outright today,” he says.

Drucker’s Stitch development team – backed by local investors – wants to acquire the back 60 feet of 160-by-40 foot lots, then put up three-unit condo complexes there with each unit priced at between $250,000 and $350,000.

The plan brings “starter homes” back into the grid and activates neglected alleys, Drucker says, while paying homeowners for a portion of their property that’s often unused.

The land sellers also get a free parking place in the condo development.

In the case of the L Street property, Drucker says he’s paying about $100,000 to a woman on a fixed income.

“That’s a little more than she owes on her mortgage,” he says.

The rough number of lots in the central city suitable for the Stitch plan? About 150, Drucker says.

Such a deal

Aaron Zeff’s offer to provide free rent for a year to just the right restaurant operator is generating tons of interest.

“We’ve been flooded,” says Zeff, who’s seeking a tenant for a tiny building adjacent to his Harv’s Metro Car Wash in midtown.

He says more than 50 inquiries have come in since our item about the offer ran Thursday. About half of those contacting him have practical concepts, he says.

The rest?

“When people see ‘free,’ some crazy ideas come out,” he says.

How will he select a winner among the sane submissions?

He may “try out” the applicants by holding a series of tastings, he says. Or even formalize the process into some kind of “Iron Chef”- type competition.

Stay tuned.”

Via the Bee