Western Real Estate Business

OCT 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

Issue link: https://westernrealestatebusiness.epubxp.com/i/1037966

Contents of this Issue

Navigation

Page 44 of 56

44 • October 2018 • Western Real Estate Business www.REBusinessOnline.com Settled in 1906, Bellflower, CA was best known for its dairy farms and proximity to downtown Los Angeles via the Pacific Electric Railway. The historic P.E. Depot still stands as a reminder of years past. But Bellflower continues to flourish with new developments that push the City into the future. In 2028, a new Metro Light Rail Station will stand proudly across the street from the P.E. Depot, inviting thousands of visitors to our pedestrian- friendly Downtown and providing a hassle-free commute to Los Angeles. The Light Rail Station has brought renewed interest in Bellflower, spurring exciting developments for 2019 including SteelCraft, a modern food court built with shipping containers; The StandUp Comedy Theatre; In-N-Out Burger; and The Exchange, a 3-story development that will house a co-working space, restaurant with distillery and brewery, and Howard CDM's headquarters (the developer of the SteelCraft project). Also responding to the statewide demand for more housing, 115 new housing units are being built along the transforming Artesia Boulevard corridor. Rich in history but embracing change, Bellflower welcomes innovative uses to serve its 78,000 residents. Bellflower not only belongs to one of the densest regions in the state, but is surrounded by 3 major freeways within dynamic southeast Los Angeles County. Just 15 minutes away, Bellflower residents have access to Orange County, Long Beach Airport, the ports of Los Angeles and Long Beach, and California's acclaimed beaches and amenities. Bellflower serves as an amazing launch pad for developments to have an outsized reach. City of Bellflower, California footprints, our retail centers have had to evolve and change." The city has three retail centers that total more than 1.6 million square feet. They include Indio Towne Center, Showcase at Indio and The Palms, which is anchored by Walmart and has received approval for a 12-screen luxury Maya Cinemas, Hampton Inn & Suites and a variety of fast-casual restaurants and retailers. Entertainment and tourism may maintain a strong presence in the city, but Gagajena concedes Indio does anticipate challenges ahead. "While we have been successful growing our tourism and hospitality industry largely due to our community partnership with the Greater Palm Springs Visitor and Convention Bureau, in the long-term, technological advancements in robot- ics will erode the jobs in this service economy," he notes. "The biggest challenge for our region will be growing and diversifying the Coachella Valley economy. College and career readiness and train- ing is the path to higher-wage jobs in the Coachella Valley. Partnering with our business community, economic development agencies and educational institutions will be the key to our success." Peoria, Ariz., is no stranger to this challenge, either. Just northwest of Phoenix, this city has a sophisticated demographic with a high quality of life. "Forty percent of Peoria residents have post- secondary education and are employed in oc- cupational groups exceeding national levels in engineering, computer and mathematics and in- formation technology," says Paul Zampini, busi- ness attraction coordinator in the city's economic development services department. "People choose to live here because they can walk out their front doors and go hiking. They can hop on a bike and connect to hundreds of miles of trails or walk the valley's safest streets at night. They take their kids to A+ schools. They can hook up the boat and drive 15 minutes to the Valley's largest lake, or at- tend a spring training event and then head home to one of several award-winning communities." While this may sound idyllic, there's just one problem with this scenario. "The high-quality talent already lives here," Zampini explains. "But they commute to Intel or Honeywell across town. On Saturday and Sunday, they are satisfied and happy. But Monday morn- Indio has three retail centers that total more than 1.6 million square feet. They include Indio Towne Center, Showcase at Indio and The Palms (pictured), which is anchored by Walmart. Indio and its successor agency own several properties totaling more than 26 acres that can activate the community's vision for a downtown that includes mixed-use, creative and place-making components.

Articles in this issue

Links on this page

Archives of this issue

view archives of Western Real Estate Business - OCT 2018