Shopping center is what region needs

We’ve only lived in Redding for a year, so it might seem presumptuous to offer an opinion on the proposed shopping center. Since we really love our new environment, and find it a warm receptive place to live, I’ll venture forth.

Actually I see the siting of a shopping mall in this economic downturn as a real complement to the long term viability of Redding. My firm, based in San Francisco, provides risk management consulting services to many of the state’s leading real estate owner/developers. This gives me a unique view of the overall level of statewide development activity. The current economic climate is not producing a lot of commercial retail projects. Only those with very positive demographics are even being considered. It takes a strong respected developer, with an excellent track record to even get serious consideration from the limited number of capital providers. Since new mall development requires a high level of pre-lease commitment, this project has to have a lot of merit. Being able to secure funding for this project means that Redding has passed with flying colors a test of its economic potential by tough, unemotional experienced professionals whose job is demographic analysis.

In briefly talking with people manning the “no new shopping center” tables that have sprung up in other shopping centers, I’ve been given a lot of false information. Yes, this will be a huge shot in the arm for local construction jobs. There will be also a large number of good retail jobs added at a time of real need. Of course no one can dispute that millions of new taxes will be added to support police, fire and schools. To those of you waiting for “high paying” industrial jobs in Stillwater Park, don’t hold your breath. California’s general anti-business climate makes it highly unlikely any significant industrial expansion is in Redding’s future.

Finally I do appreciate the attitude of those living near any kind of development. Their lives will certainly be temporarily disrupted. Hopefully the project will ultimately enhance the value of their property.

Objectively, I urge any concerned Redding resident to support what appears to be a well-planned, much needed shot in the arm to Redding’s economic future. We plan to live here a long time and see the project as a validating factor for our decision.

Article source: http://www.redding.com/news/2011/sep/02/bob-nelson-shopping-center-is-what-region-needs/