In our last Economic Development Community Update, we discussed decreasing COVID-19 numbers and the opportunity1 we, as a community, have in rebuilding our community and economy stronger than ever before. We reviewed a World Economic Forum article titled “Rebuilding after COVID-19 shouldn’t mean going back to how things were,”2 which outlined how a new normal could look.
In the interest of your time, I will summarize the key takeaway: COVID gives us the perfect opportunity to raise the bar on what we expect from and contribute to our community. Individually and collectively, we all have a role in raising our standards and creating a brighter and healthier new normal. Whether this new normal is within ourselves, our family, or our community, the tighter our social fabric becomes, the more connections we make, and the higher levels of trust we build within our community not only makes for individually richer lives but helps build a stronger economy3.
With COVID-19 infection rates climbing, we are at another inflection point. We see our daily choices, such as whether we get vaccinated, how frequently we shop local businesses, and whether we wear a mask, wash our hands, or practice social distancing, have far-reaching consequences. Whether infection rates continue climbing, plateau, or decrease, our business community needs you, your business, and your support.
On the development side of things, activity within Cathedral City has been tremendous! If you have driven around the City lately, you will see all sorts of development moving forward. We have seen more new home construction in the last 12 months than in 2011 to 2018 combined! According to Vic Cooper of Market Watch, LLC, in July 2021 single-family residential home prices increased 25.3% compared with July 2020.
Commercial development is also picking up with Tower Market nearing completion and two new restaurants in the Date Palm Plaza are working through the entitlement process. Several other exciting projects, too early to discuss, have been submitted to the Planning Department. Last night, the Cathedral City Planning Commission approved a luxury boutique hotel and two new cannabis cultivation businesses.
In short, Cathedral City is growing by leaps and bounds. To stay on top of Economic Development activities, please bookmark www.ccedd.org and tune into iHub Radio for quality programming on economic development activities within Cathedral City. You can hasten our City’s and our businesses’ economic recovery by shopping local. Check out our website, Cathedral City Shop Local, to find categories and lists of all the companies within Cathedral City which need your support. Shopping at our businesses will help keep our retailers strong and keep your tax dollars within the City. These tax dollars fund critical services such as our Police, Fire Department, and road maintenance. There is no better testimonial for attracting new businesses than to ensure our existing businesses are prosperous.
Lastly, your efforts to keep your properties clean, weed, and debris-free are paying off. Property appearance is an important “selling point” when prospective homebuyers, business owners, and developers look for a “perfect” location. Everyone is a part of Cathedral City’s long-term success, and you are making an impact!
For those still on the fence about getting vaccinated? The below Yale Medicine article1 is worth reading.
1. MacMillan, Carrie. May 21, 2021. Herd Immunity: Will we ever get there?. Yale Medicine. https://www.yalemedicine.org/news/herd-immunity. A compelling quote from this article “If we continue to let this pandemic run wild… there is a probability that there will eventually be a variant against which the vaccines will be less effective.” Saad Omer, MBBS, PhD, MPH, director of the Yale Institute for Global Health
2. Gallagher, Brian. June 25, 2020. Rebuilding after COVID-19 shouldn’t mean going back to how things were. World Economic Forum. https://www.weforum.org/agenda/2020/06/covid-19-rebuilding-recovery/
3. Crowe, J.A. 2006. Community Economic Development Strategies in Rural Washington: Towards a Synthesis of Natural and Social Capital. Rural Sociology.