San Joaquin Valley Gentrification thread(Fresno, Merced, Stockton, Bakersfield) (Sacramento: low income, sale)

[dontbelievehim]

This thread will be for new projects being built and proposed from Lodi to Bakersfield. I'm going to put extra focus on Merced to fresno, but I will try my best to include other parts of the valley. If you want to add to this thread, please do.

Mixed use project (50 million) is about to start construction in Fresno(Blackstone/Shaw)

https://thebusinessjournal.com/mixed...haw-in-fresno/



Another Blackstone mixed use project in Fresno, comes with a hotel(I don't think the hotel is shown in the picture)

https://thebusinessjournal.com/major...-intersection/

Hotel Fresno is almost done with it's makeover. Hotel Fresno is a large, dilapidated hotel in the middle of downtown. I believe it will be low income housing. There's talks of surrounding it with a large mixed use project. I'll share info once it gets further again.

A small mixed use project is being created in the chinatown of Fresno. Chinatown is one of the ruffest parts of Fresno. It will be a much needed addition.
Info for this project
https://www.transformfresno.com/proj...rch-chinatown/

New community college is under construction in west Fresno. New budget condos are being built near there as well

College info
https://www.fresnocitycollege.edu/ne...-ceremony.html

The largest Catholic church in America is being built in visalia
Sigh. At least the design is nice.
Here's info for that

https://ktla.com/news/california/chu...lt-in-visalia/

Fresnos first mixed use project is nearing completion(88 units/40 million)

Info below
https://www.housingfinance.com/devel...l-california_o

Manteca water park opened up this year
Indoor water park and hotel

https://gvwire.com/2021/05/07/valley...s-where/?amp=1

Few years old info
Bakersfield got it's first children's hospital not long ago

https://www.valleychildrens.org/news/news-story?news=99

Last but not least, the lower foothills of Fresno are being carved up into estate homes. I could see it becoming its own community one day. Think El dorado hills(Hi, Chim!)


https://m.youtube.com/watch?v=BGF4bKeCDeA


Edit:
Small luxury studio apartment complex in the tower district
Minimum price will be at least 1500 per month
https://rentgranville.com/estate_property/the-district/

Large solar park in Fresno/Kings county
(Largest in America?)
2.7GW of power

https://www.power-technology.com/pro...ds-solar-park/

Will be up and running by 2023

High end senior living center next to Fresno State is nearing completion.

These things must be really profitable cause they're all over north Fresno.

https://abc30.com/fresno-state-campu...tores/5583037/

[Des-Lab]

Question about these "low income" projects.

Who's picking up the tab on that? No developer in their right mind is going to do this out of the goodness of their heart. Is the city or some other entity picking up the difference between whatever this "low income" sale amount would be versus open market? Is the city funding it outright? Out of what funds? How does that all work?

Meanwhile here in my town, near Visalia, housing is going up like crazy. But as far as I can tell, it's just more of the same cookie cutter style tracts and SFH's of varying size. People talk about a housing shortage. Not here there isn't. And SFH's can be bought for $350k or under all day long.

For a town that doesn't have a whole lot of business and industry, I've long been curious who all these people buying and moving in are coming from, and why. Are they commuting to Fresno and Bakersfield?

Even in just the last four years I've noticed a marked increase in traffic around town.

Interesting.

[shelato]

The state requires local governments to provide for something that they tend to refer to as a Regional Housing Needs Assessment. But it usually doesn't come up with nearly enough money to actually pay for that low income housing. Instead it becomes a unfunded mandate the local governments need to come up with a mechanism to fund. I am not sure specifically what happens in Fresno County, but in most jurisdictions in California, when you buy a new home, you are assesseed a series of new housing impact fees including one to pay for low income housing projects. I assume that is what happens in Fresno too, but I don't live in Fresno so I don't know that for sure.

https://www.hcd.ca.gov/community-dev...nt/index.shtml

But in general, housing is one of the most highly regulated industries especially in California, from housing finance to zoning, to new construction and all of the permits and inspections required for that, government is deeply involved. That is why its so complicated to build anything here and also one of the big reasons housing is so expensive to buy here.

[dontbelievehim]

Originally Posted by Des-Lab

Question about these "low income" projects.

Who's picking up the tab on that? No developer in their right mind is going to do this out of the goodness of their heart. Is the city or some other entity picking up the difference between whatever this "low income" sale amount would be versus open market? Is the city funding it outright? Out of what funds? How does that all work?

Meanwhile here in my town, near Visalia, housing is going up like crazy. But as far as I can tell, it's just more of the same cookie cutter style tracts and SFH's of varying size. People talk about a housing shortage. Not here there isn't. And SFH's can be bought for $350k or under all day long.

For a town that doesn't have a whole lot of business and industry, I've long been curious who all these people buying and moving in are coming from, and why. Are they commuting to Fresno and Bakersfield?

Even in just the last four years I've noticed a marked increase in traffic around town.

Interesting.

Cities like Hanford/Tulare seem to be commuter towns. People want to live in visalia, Bakersfield, Fresno, but can't afford to be in a nice neighborhood in said cities, so they go somewhere smaller.

Government is helping with low income housing; Itd be unprofitable without it. Next phase of building will be mixed income and higher end housing.

Surprised you didn't mention your new in - n - out!

[Pro1000]

Gentrification hasn't hit Fresno yet.. if ever. Downtown is slowly starting to turn things around after being dormant for about thirty years but everything is Northside dominate now and more than likely in the future.

[waltchan]

I would say Merced, CA will be the fastest-growing gentrified California city for the next 50 years, due to UC Merced influencing the region's economy.

[dontbelievehim]

Originally Posted by Pro1000

Gentrification hasn't hit Fresno yet.. if ever. Downtown is slowly starting to turn things around after being dormant for about thirty years but everything is Northside dominate now and more than likely in the future.

Anything that raises property values in old neighborhoods is gentrification. Gentrification isn't just apple stores and fancy midrises.

These mixed use properties in Fresno come with improvements to foot traffic/density, which developers love. Eventually, you're going to start seeing strip malls getting replaced with market rate mixed use properties. With enough dense units out there, the city could install a trolley or rail system -That's the end goal.

Also, City of Fresno wants to spend millions fixing up the oldest parts of town. Southwest, calwa, southeast, etc. They already fixed up the main part of tower, and their next move is to fix up tower neighborhoods. These investments in the tower will help increase property values there and push poor people out.

[dontbelievehim]

Originally Posted by waltchan

I would say Merced, CA will be the fastest-growing gentrified California city for the next 50 years, due to UC Merced influencing the region's economy.

Merced will get the bulk of UC money, but I'm positive that sister campuses will be built in other parts of the valley (Madera, Fresno, etc). UC Merced is going to lift up the entire valley, not just Merced.

[Valley Boy]

Yea I could see Merced cleaning up and going the way of Chico, a quaint college town.

Fresno- that whole Ventana Hills is nothing like El Doardo Hills. El Dorado Hills is an upscale suburb of Sac, and part of the contiguous development of the Sacramento metro.

Ventana Hills seems more like Rancho Murieta in Sac County. A master planned gated community in the middle of no where. For people who want the tranquility of rural living. But without having to rough it or tend to the land, and with paid security guards... instead of the nearest sheriff 20 minutes away.

[dontbelievehim]

Originally Posted by Valley Boy

Yea I could see Merced cleaning up and going the way of Chico, a quaint college town.

Fresno- that whole Ventana Hills is nothing like El Doardo Hills. El Dorado Hills is an upscale suburb of Sac, and part of the contiguous development of the Sacramento metro.

Ventana Hills seems more like Rancho Murieta in Sac County. A master planned gated community in the middle of no where. For people who want the tranquility of rural living. But without having to rough it or tend to the land, and with paid security guards... instead of the nearest sheriff 20 minutes away.

Naw, that area is too upscale for rancho murieta. Ventana hills could turn into a mini El dorado hills if the county has interest in creating that. It could also stay rural as well. Who knows what'll happen.

Tour of the area


https://m.youtube.com/watch?v=xXCBK-cCs9s