In the last updates, we learned economic development is “programs, policies and activities that seek to improve the economic well-being and quality of life for a community, by creating and retaining jobs, and providing a stable tax base.” We ran through some of the fabulous restaurants within Cathedral City. From Mexican, Italian and Asian cuisine to the variety of heart-healthy options, we have so many exciting dining options!
A new project within Downtown Cathedral City will soon be adding to the number of dining options, jobs, and the City’s tax base. On April 26, 2023, the City Council approved the final parcel map needed to create a five-acre commercial development located on the south side of East Palm Canyon across from the casino. Assuming the construction financing industry remains stable, the first phase of this commercial project will see a newly designed Starbucks, Chipotle, Farmer Boys, and Circle K convenience store and fuel station. Future tenants could include a bank, personal care business(es), and a sandwich shop. Fountainhead Development (Coachella Valley’s most active retail developer), is working to attract a multi-family residential housing developer on the rear portion of the property.
Speaking of multi-family residential housing, in the recent General Plan update, the City Council approved increasing residential densities on several multifamily-zoned properties throughout our City. As residential development densities increase, so do retail sales. As retail sales improve, more retailers will want to open a business in Cathedral City. As taxable retail sales increase, the quality of roads, parks, and city services improve. All good things!
In addition to increasing retail activity, resale home market is thriving. In March 2023, according to the Valley’s premier residential real estate market analysis company, Market Watch, LLC, Cathedral City led the other nine Valley cities with the highest year-over-year residential home sales price growth of 6.6%. To put this sales price increase into perspective, five Valley cities had year-over-year price declines ranging from -0.3% to -7.2%. Cathedral City’s strong resale home market is driving demand for new home development.
An exclusive Southern California private home builder, Williams Homes, is having a ribbon cutting for their first-ever Cathedral City project at 4 p.m. on Thursday, May 18, 2023. Williams Homes’ new home project is located within the Campanile community on Ramon Road just west of Da Vall Drive. GHA Communities, a long-time Cathedral City-based luxury home builder, is offering the Village of Rio Del Sol, a mid-century modern new home project located within the Rio Del Sol on Gerald Ford Drive just east of Date Palm Drive.
Shopping local is the best way to attract new businesses. You can improve our streets and increase revenue for City services by keeping as much of your daily shopping dollars within Cathedral City limits. A comprehensive list of Cathedral City businesses can be found at www.ccshoplocal.com. Attracting new investment is also accomplished by keeping our properties clean. Property appearance is an important selling point when prospective investors are looking for the perfect location. Everyone is a part of our long-term success, and your efforts are helping elevate Cathedral City to new levels. To stay on top of Economic Development activities and information, please bookmark www.ccedd.org. The economic development department appreciates you doing your part to support our great city!
