downtown redevelopment - city of riverside
DESCRIPTION
Deanna Lorson, Assistant City Manager for the City of Riverside, discusses how Riverside, CA was able to reinvent their historic downtown.TRANSCRIPT
RiversideCa.govRiversideCa.gov
California Association for Local Economic Development
November 13, 2014
Deanna Lorson, Assistant City Manager
Downtown Redevelopment
City Manager’s Office
RiversideCa.gov
CITY OF RIVERSIDE• FY2014/15 Budget
– Citywide: $914,663211 / General Fund: $240,056,800
• Official Population: 314,034 (2014)– 59th largest in the United States
– 12th largest in California
– 6th largest in Southern
California
• 81.5 square miles
• Incorporated on October 11, 1883
RiversideCa.gov
RIVERSIDE DOWNTOWN PARTNERSHIP
• Established in 1986• Not-for-profit
organization that partners with the City and downtown retailers, businesses and stakeholders
• Promote Business Activities
• Sponsors Public Events• Maintenance• Security
RiversideCa.gov
PUBLIC INVESTMENT• Convention Center $43,630,000• Fox Theater $31,193,000• Fox Entertainment Plaza $18,769,000• Parking Garage No. 6 $13,079,097• Fire Station No. 1 $12,302,000• Main Street Revitalization$10,296,516• Municipal Auditorium $10,098,470• Metropolitan Museum $1,989,200• Other PW Improvements $26,472,025
TOTAL $167,829,308
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RIVERSIDE CONVENTION CENTER
RiversideCa.gov
RIVERSIDE CONVENTION CENTER
RiversideCa.gov
RIVERSIDE CONVENTION CENTER
March 2014 – June 2014 Summary• Events 94
• Visitors/Attendees 70,667
• Hotel Rooms Consumed 6,044
• Hotel Room Revenue $636,405.93
• 161 confirmed bookings (July 2014 to September 2020)
• 49 tentative bookings (July 2014 to May 2018)
RiversideCa.gov
RIVERSIDE CONVENTION CENTER
Riverside Convention & Visitors Bureau and the Riverside Sports Commission (FY2013-
2014)• Events 133
• Visitors 71,218
• Hotel Rooms Consumed 23,849
• Hotel Room Revenue $2,403,120.84
• Economic Impact (Est.) $6,569,133.99
RiversideCa.gov
FOX THEATER
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FOX THEATER
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FOX THEATER
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FOX ENTERTAINMENT PLAZA
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FIRE STATION NO. 1
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FIRE STATION NO. 1
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PRIVATE INVESTMENT• RCCD Renaissance Block $80,000,000• Regency Tower $65,000,000• Raincross Promenade $43,000,000• Stalder Project $42,000,000• Gateway Offices $25,000,000• Imperial Hardware Project $22,000,000
• Culver Center for the Arts $18,000,000TOTAL $295,000,000
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REDEVELOPMENT
Stalder Project by Regional Properties
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REDEVELOPMENT
Imperial Building Project by Ratkovich Properties, LLC
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D DOGS
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SALTED PIG
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MOLINOS COFFEE
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PRO BITION
A
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MEZCAL
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HEROES RESTAURANT & BREWERY
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REGENCY TOWER
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REGENCY TOWER
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CITRUS TOWER
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CITRUS TOWER
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DOWNTOWN INVESTMEN
TS
PublicPrivateCity Hall/County Administrative CenterCourts
RiversideCa.gov
WELCOME TO RIVERSIDE!