Perhaps things may have seemed a little gloomy in the past year due to the recession, however it looks like Napa Valley’s downtown maybe finally be coming out of its slump. Or is it?
Much like many cities around the country a few years ago the future looked bright; building projects were in full construction, people where spending and banks were lending. Cut to 2009 where there is a surplus of retail space, no one is buying and banks are holding on tightly to their money. Napa Valley is just one of those stories, that seems is slowly laying down a foundation for a stronger downtown.
New developments like the Oxbow Public Market, the Riverfront Commercial/ Condo project, and Napa Square Dining/Office complex are bringing some much needed business to the area. The issue now is surviving until the next wave of prosperity comes along.
The good news in this ordeal is that downtown is getting more popular for its food and wine. Already two celebrity chefs are scheduled to open next year- “Iron Chef” Masaharu Morimoto and the Food Network’s Tyler Florence.
Earlier this year, the Napa City Council voted to fund marketing and leasing strategies for downtown. The Economic Development Systems of Redondo Beach was paid $100,000 to come up with a plan, which is due to be reported next month.
Plus, the city is paying $762,000 to come up with a blueprint for commercial and residential growth within the next 15 years.
The idea is to create a better downtown street system, therefore bringing traffic around the currently struggling retail areas. Further plans for taller buildings, more residential units and entertainment district for late-night music are among the future plans for downtown.
As of now, retailers are focused on surviving through the recession. And only time will tell if the foundations for a new Napa Valley downtown will actually be successful.
Via: Napa Valley Register