Monday, April 23, 2012
Invest in Downtown Fresno
How the High Speed Rail will Affect Downtown Fresno
For years now, there has been an ongoing battle between the High-Speed Rail (HSR) authority and its opponents, criticizing the business plan. If the project does eventually go through, the first section will be completed by 2022 and there will be a station right in Downtown Fresno. The question is; should you invest into Downtown Fresno now and capitalize from this opportunity?
The HSR expects a ridership of 88-117 million people by the year 2030. With Fresno being at the center of California and the center of the High Speed Rail track, a lot of that traffic will go through Fresno. With a possible spike in tourism and increase in foot traffic in the millions a year, the businesses downtown will be thriving. Downtown Fresno is an area mostly forgotten by most Fresnans today, but that may change when a HSR station is at the center of it creating a hub that will draw everyone towards it.
Developers are already looking into capitalizing on this opportunity. Big name developers like GranVille Homes have already made moves into Downtown Fresno. Granville, along with a few more developers already started building residential housing in the area. Iron Bird Lofts, Vagabond Lofts, Pacific Southwest, Grande, etc. are just some of the residential loft spaces available to rent. All the residential areas being developed now in Downtown Fresno are catered towards the young and single, or couples with no children market.
Office space is another area that is being heavily developed in Downtown Fresno. An area in the Downtown Revitalization Movement is to bring businesses downtown. There are over half a dozen different venues that offers office space for rent; Pacific Southwest, The Grande, Bizworks, OfficeBay, etc. These businesses maybe locating downtown to capitalize on the HSR or from other reasons, but there is a movement happening already.
Residential and commercial areas are being heavily developed in Downtown Fresno with the hopes of the HSR creating a huge spike in land value. It’s still all speculative and too early to say, but the movement is gaining momentum. Get on the bandwagon, or should I say “High Speed Rail,” before it’s too late.