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.
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