By Faughn Commercial • Economy 0 Comments

A $21 million Fresno shopping center sale flew under the radar until now

The largest retail investment sale in the Central Valley so far this year happened in northeast Fresno with little public notice — and it took a second major deal to reveal it.

Riverview Shopping Center, at the northeast corner of Friant and Fort Washington roads, sold for $21.02 million back in January, according to a first-quarter Fresno retail report from commercial brokerage Lee & Associates. The multi-tenant center, which includes nightlife hotspots The Standard, The Woodward and Starving Artist’s Bistro, totals 109,681 square feet in the report, putting the sale price at $191.70 per square foot. The report lists the seller as LeFever Mattson Property Management and identifies the buyer as United Brands. County assessor records list the buyer as Riverview Center LLC, with Nesser D. Zahriya listed as an agent in state records.

According to BizProfile.net , Zahriya is also involved with South San Francisco-based Jz Developments LLC as the manager and registered agent.

The transaction didn’t seem to make the local news headlines when it closed. Its standing became clear only after Cedar Tree Village Shopping Center sold in July for $20.85 million. In reporting on that deal, brokerage Visintainer Group and data provider CoStar identified Cedar Tree as the region’s second- largest retail investment sale of 2026 — ranking it behind Riverview.

Riverview sits directly across from Woodward Park, at an intersection that carries about 26,377 vehicles a day, according to leasing brokerage Retail California. The center’s tenants include Starbucks, Panda Express, Fleet Feet Sports, Sport Clips, several restaurants and a fitness center, along with salon and service uses. Retail California markets the property for lease and lists average household income within one mile at $169,402, citing Claritas data.

The sale closed as Fresno’s retail fundamentals held steady. Lee & Associates reported a vacancy rate of 5.7% in the first quarter, modestly above historical averages after recent construction added supply. Average asking rents were about $19.50 per square foot, with annual growth of 0.9%, according to the report. The brokerage said new deliveries have outpaced tenant demand over the past year, contributing to the uptick in vacancy.

Amanda Brock, a senior executive vice president and principal at Lee & Associates, wrote in the report that performance varied by property type, with power centers holding the lowest vacancy while malls and neighborhood centers remained more challenged.

Cedar Tree Village, a 118,417-square-foot grocery-anchored center at Herndon and Cedar avenues, closed July 16 when Cedar Tree Village LLC sold to Irvine-based Pacific Castle PM Inc. Visintainer Group, which represented the seller, said the property drew seven qualified offers.

https://thebusinessjournal.com/a-21-million-fresno-shopping-center-sale-flew-under-the-radar-until-now/

By Faughn Economy • Uncategorized 0 Comments

Where Is Homeownership Most Accessible for Young People? 2026

National trends in young homeownership

Despite ongoing affordability challenges, young adults continue to play a meaningful role in the housing market. Americans under 35 account for 36% of all home purchase loans nationwide, while their share of homeownership among all age groups stands at 14%.

The data reveals a nuanced picture of young Americans’ path to homeownership. From 2020 to 2024, the share of homeowners under 35 increased by 4.8%, suggesting that younger buyers found ways to enter the market despite a sharp rise in housing costs. More recently, however, that progress appears to be slowing. Between 2023 and 2024, the under-35 homeownership rate declined by 0.4%, raising questions about whether affordability pressures are beginning to outweigh gains made in recent years.

“Two young households with similar incomes can end up on very different financial trajectories simply because of where they live,” said Nadia Evangelou, principal economist and director of real estate research at the National Association of Realtors. “One starts building equity in their early 30s, while the other may spend much longer renting and waiting for ownership opportunities. The affordability gap we are seeing across metro areas is increasingly becoming a wealth building gap.”

Geography remains one of the strongest predictors of homeownership accessibility. In some metro areas, home prices remain relatively aligned with local incomes, financing programs help reduce barriers to entry, and younger buyers account for a substantial share of home purchases. In others, housing costs have far outpaced earnings, creating a widening gap between aspiring homeowners and the realities of the market.

Read on to learn more about the metros offering the strongest pathways to homeownership for young buyers — and the places where affordability remains a significant obstacle.

Metros where young homeownership is most accessible

While affordability headwinds have begun to stall progress on a national scale, our analysis identifies geographical havens where the path to the American Dream remains wide open. These areas stand out for having a high share of homeowners under 35, a high percentage of mortgage loans taken out by younger buyers, or both. Based on our research and data, here are the 10 metropolitan areas where entry into the housing market is most accessible.

1. Baton Rouge, Louisiana

Baton Rouge claims the No. 1 spot this year, climbing 18 spots in the rankings from 2025. The metro area is defined by a nation-leading under-35 homeownership rate of 22.1%. This is up significantly from last year’s study, when the rate was 17.6%. Baton Rouge also has the sixth-highest percentage of home purchase loans taken out by under-35 applicants (43.3%).

Supplementary statistics show one possible reason young buyers can enter the market: The median home sale price at the time of analysis was $253,634, the eighth lowest of any metro area we researched.

  • Homeownership rate among people under 35: 22.1% (highest)
  • Share of home purchase loans taken out by applicants under 35: 43.3% (sixth highest)

2. McAllen-Edinburg-Mission, Texas

The McAllen metro area is currently the nation’s powerhouse for youth buying activity. An incredible 46.3% of all home purchase loans in this market go to buyers under 35 — the highest share of any metro in the study. Plus, about one in five homeowners with a mortgage is in this age bracket.

It doesn’t directly affect the ranking, but it’s worth pointing out that the median home sale price of $209,859 is the lowest of the 100 biggest metros in the U.S. Federal Housing Administration loans seem to be especially popular among younger buyers: 48.9% of these loans, which can have down payments as low as 3.5%, were given to applicants under 35.

  • Homeownership rate among people under 35: 20.1% (second highest)
  • Share of home purchase loans taken out by applicants under 35: 46.3% (highest)

3. Grand Rapids-Wyoming-Kentwood, Michigan

Grand Rapids is the top-ranking metro for young homebuyers in the Midwest. The under-35 ownership rate of 19.1% is supported by one of the higher median household incomes of metros in the top 10, at $73,765. The relatively high income keeps the home-price-to-income ratio below average.

  • Homeownership rate among people under 35: 19.1% (third highest)
  • Share of home purchase loans taken out by applicants under 35: 45.9% (second highest)

4. El Paso, Texas

El Paso gets a massive 35-spot jump in the rankings this year, with top 10 finishes in both the metrics we examined. Buyers under 35 utilize a large number of VA home loans; El Paso trails only three metros in the percentage of these loans, backed by the Department of Veterans Affairs, that go to applicants under 35. Also, the metro area’s $246,675 median home sale price is one of the lowest in the U.S.

  • Homeownership rate among people under 35: 17.8% (sixth highest)
  • Share of home purchase loans taken out by applicants under 35: 44.8% (fifth highest)

5. Salt Lake City-Murray, Utah

Only five of the 100 most populous metros finish with top 10 rankings in both metrics of our study — Salt Lake City is one. A high share of homeowners with mortgages are under 35, and a sizable percentage of home loans go to younger applicants. This is in spite of the area having a median home sale price of over $533,000 — by far the highest of any metro that finishes in the top 10 for homeownership accessibility.

  • Homeownership rate among people under 35: 17.5% (eighth highest)
  • Share of home purchase loans taken out by applicants under 35: 42.7% (seventh highest)

6. Buffalo-Cheektowaga, New York

Buffalo is the top location for young buyers in the Northeast, moving up 15 spots from last year. Close to 46% of all home purchase loans are taken out by people under 35 — the third-highest percentage in the U.S. These buyers benefit from home prices that are, on balance, lower than in other large U.S. metros. The median sale price, $244,206, combined with the median younger household income of just over $57,000, gives a home-price-to-income ratio that is 14th lowest out of the 100 metros.

  • Homeownership rate among people under 35: 15.4%
  • Share of home purchase loans taken out by applicants under 35: 45.7% (third highest)

7. Pittsburgh, Pennsylvania

Pittsburgh, like the metro just ahead of it in the rankings, has a high percentage of home loans going to younger purchasers. One likely reason: The ratio of median home sale price to median young household income (3.5) is the lowest in the country, making it easier to qualify for a loan. Additional data shows that applicants under 35 take out a high percentage of all conventional loans issued in the Pittsburgh area.

  • Homeownership rate among people under 35: 15.5%
  • Share of home purchase loans taken out by applicants under 35: 44.9% (fourth highest)

8. Cincinnati, Ohio

Cincinnati is the only metro in the top 10 that maintains its exact position from last year. Young people secure 42.6% of all home purchase loans, the eighth-highest rate in the nation. Mortgage applicants are helped by lower home prices — the median sale price, at just under $286,000, is 23% lower than the national median. Incomes among younger households are right around the national median.

  • Homeownership rate among people under 35: 16.4%
  • Share of home purchase loans taken out by applicants under 35: 42.6% (eighth highest)

9. Colorado Springs, Colorado

Nearly 18% of homeowners with a mortgage in the Colorado Springs area are under 35, the seventh-highest rate, despite home prices being on the expensive side. Of the top 10 metros, it sees the highest number (2,089 in 2024) and highest percentage (41.9%) of VA loans going to borrowers under 35. (El Paso County, Colorado, has one of the highest populations of veterans in the U.S.)

  • Homeownership rate among people under 35: 17.6% (seventh highest)
  • Share of home purchase loans taken out by applicants under 35: 39.7%

10. Bakersfield-Delano, California

There are 12 California metros among the 100 biggest in the U.S. 10 finish at No. 75 or below on our list, one at No. 33, and one — Bakersfield — in the top 10. About one of every six homes with a mortgage is owned by someone under 35, and 41.3% of home purchase loans are taken out by younger applicants. Young borrowers take out over 45% of FHA loans, the third-highest percentage of all metros.

  • Homeownership rate among people under 35: 16.6% (10th highest)
  • Share of home purchase loans taken out by applicants under 35: 41.3%

Metros where young homeownership is least accessible

The metro areas where homeownership is most accessible to younger people are spread across each region of the country. On the other hand, the least welcoming metros are overwhelmingly concentrated in California and Florida, where housing costs and other barriers have made homeownership less achievable.

The metros where homeownership is least accessible for younger buyers are:

  1. North Port-Bradenton-Sarasota, Florida
  2. Anaheim-Santa Ana-Irvine, California
  3. Fort Lauderdale-Pompano Beach-Sunrise, Florida
  4. West Palm Beach-Boca Raton-Delray Beach, Florida
  5. Los Angeles-Long Beach-Glendale, California
  6. Cape Coral-Fort Myers, Florida
  7. Bridgeport-Stamford-Danbury, Connecticut
  8. Oxnard-Thousand Oaks-Ventura, California
  9. Oakland-Fremont-Berkeley, California
  10. Stockton-Lodi, California

Why aren’t young people buying homes in these areas?

Supporting data from metros at the bottom of our rankings underscores how high housing costs have pushed homeownership out of reach for many young adults. In California, metros like Los Angeles and Oakland have home price-to-income ratios that approach 13-to-1. In three metro areas — San Jose, Oakland and San Francisco — the median sale price exceeds $1.2 million.

Florida presents a different affordability challenge. In markets like North Port-Bradenton-Sarasota — the least accessible metro in our study — young buyers face expensive insurance costs. “A lot of first-time homebuyers are still on the fence, waiting for relief on insurance rates, taxes and the overall cost of ownership,” said Cole Murray, a real estate agent based in North Port. As climate-related risks continue to drive insurance premiums higher, many prospective buyers are finding that the true cost of homeownership extends far beyond the mortgage payment. In these regions, the path to homeownership isn’t just difficult — for many, it is becoming impossible.

Data: Homeownership access by metro area

Our 2026 analysis reveals that while certain metros offer the best paths to homeownership for young people, many of the largest population centers put more obstacles in the way. Of the 20 largest metro areas in the U.S., only one ranks in the top 15 for young buyers (Minneapolis, No. 13). Of the 10 largest metros, the next highest-ranking on our list after Minneapolis is Chicago, at No. 49.

The data also highlights how quickly the homeownership picture can change in a given area. Birmingham, Alabama, had the biggest year-over-year jump, from No. 55 to No. 17, and the top 10 metros include eight that were outside it last year. Meanwhile, Raleigh-Cary, North Carolina, fell the most, from No. 36 to No. 65, and a top 10 city from last year, Tulsa, Oklahoma, dropped from No. 4 all the way to No. 22.

Tips for young homebuyers

While higher home prices and other constraints, like a shortage of starter homes, have created roadblocks for young Americans, the dream of owning a home isn’t dead — it just requires a more tactical approach. Navigating today’s market means looking beyond the listing price and understanding the specific financial levers that can turn a renter into a homeowner. By aligning your expectations with local economic realities, you can make homeownership a more realistic goal.

  • Know how much you can afford. Finance experts recommend spending no more than 28% of your gross monthly income on housing. Use a mortgage calculator that factors in your down payment, rate, loan amount and other variables to estimate your monthly payment. Knowing the income needed to afford a home can also help you set a realistic budget. Look beyond the monthly mortgage payment by factoring in local property taxes and homeowners insurance to avoid financial strain.
  • Get preapproved and shop for products. Evangelou, from NAR, recommends shopping around for mortgage products that fit your specific needs and getting preapproved. Don’t assume one size fits all; different lenders offer different loan types, including loans specifically for first-time homebuyers.
  • Explore federal and local programs. Forget what you’ve been told about needing a 20% down payment; many young buyers enter the market with less than 15% down with FHA, VA or USDA loans, or using local assistance programs.
  • Look for supply at your price point. Evangelou notes that general inventory is less important than “affordable listings” — homes priced specifically for what middle-income earners can afford.

Methodology

The ConsumerAffairs Research Team analyzed data from 100 of the most populous U.S. metro areas to identify where homeownership is most attainable for people under 35. Our study focused on two metrics, each weighed at 50%.

  • Homeownership rate: This is the percentage of all owner-occupied units with a mortgage that have a householder under 35. This excludes homes without a mortgage. Mortgage-free ownership is excluded from our percentage in order to emphasize market entry accessibility. Data is from the U.S. Census Bureau (2024).
  • Buying activity: This is the percentage of all home purchase loans that are taken out by applicants under 35. This data provides a real-time look at who is successfully financing home purchases in the current market. It comes from the Home Mortgage Disclosure Act, made available by the Federal Financial Institutions Examination Council (2024).

For each metric, the metro with the highest percentage scored the maximum 50 points, and the metro with the lowest percentage was given a score of zero. Other metros received proportionally scaled scores based on where they fell within the overall range.

Our analysis also incorporated the following supplementary data points for context:

  • Median home sale prices from Zillow (April 2026)
  • Median household income for householders under 44 (including under 25 and 25 to 44 age groups) from the U.S. Census Bureau (2024)
  • Home-price-to-income ratio, calculated by dividing the local median home price by the median income of younger households
  • Trends in homeownership rates from 2020 to 2024 to track long-term momentum and recent shifts
  • Loan type distribution, including the number of conventional, FHA, VA, and USDA loans taken out by borrowers under 35 and the share of these loans taken out by borrowers under 35

https://www.consumeraffairs.com/finance/where-is-homeownership-most-accessible-for-young-people.html

By Faughn Economy • Tourism 0 Comments

Contour Airlines to launch nonstop flights from Merced to LAX, Las Vegas

Tennessee-based Contour Airlines will launch nonstop service from Merced Yosemite Regional Airport beginning July 1, giving Central Valley travelers direct access to Los Angeles and Las Vegas for the first time through the regional carrier. The airline will offer daily flights between Merced Yosemite Regional Airport (MCE) and Los Angeles International Airport (LAX), along with five weekly departures to Harry Reid International Airport (LAS) in Las Vegas.

“We are thrilled to introduce service in Merced and provide the community with direct access to two of the West Coast’s most sought-after destinations,” said Ben Munson, Contour Airlines president. “These routes not only make travel more convenient for local residents and businesses but also support economic growth by strengthening Merced’s connectivity to key markets. We look forward to delivering a dependable and comfortable travel experience for all our passengers.”

Contour will operate the routes using 30-seat regional jets. Each flight includes extra legroom and complimentary snacks and beverages.

The City of Merced received official notification from the U.S. Department of Transportation in March that Contour Airlines had been selected to provide essential air service (EAS) at Merced Regional Airport for a four-year term beginning July 1. The EAS program helps ensure that small and rural communities maintain access to commercial air travel through federal support. Merced Mayor Matthew Serratto said the city welcomes the expanded service.

“These new routes to Las Vegas and Los Angeles provide valuable travel options for both visitors and our residents, whether traveling for business or leisure,” Serratto said. “Strengthening our regional connectivity is a key step in supporting economic growth, enhancing tourism, and improving quality of life for the people we serve.”

Rhett Williams, Merced Yosemite Regional Airport manager, said the partnership improves access for passengers using the facility.

“This partnership and these new flights enhance the convenience and accessibility of air travel for our passengers, and we look forward to providing a high-quality experience for everyone who travels through our airport,” Williams said.

https://thebusinessjournal.com/contour-airlines-merced-airport-lax-las-vegas-nonstop-flights/

By Faughn Economy • New Developments 0 Comments

Looking Ahead: Our Vision for the Future

Our organization is focused on thoughtful growth that builds on our strong foundation while planning for the future. Through our master plan, we are identifying opportunities to enhance our facilities and better serve our community, partners, and guests. This vision reflects our commitment to innovation, education, and business development, ensuring we continue to evolve while staying true to our mission.

https://www.internationalagricenter.com/lookingahead/

By Faughn Economy • Top Stories 0 Comments

The New Inland Empire

Bakersfield. There are moments, driving north on Highway 99 or west along the 58, when this place feels less like California and more like a frontier economy
disguised as a mid-sized city. The landscape gives it away first. Miles of almond orchards abruptly give way to concrete tilt-up warehouses. Oil pumps nod slowly beside brand new logistics parks. Semi-trucks stack up at truck stops filled with drivers hauling everything from imported appliances to refrigerated produce headed east. To outsiders, Bakersfield is often dismissed as an oil town or an ag center. It is both of those things.

But increasingly, it is something else: one of the last largescale industrial growth markets left in California. That reality has quietly reshaped this region over the past decade. For years, Southern California’s industrial explosion concentrated in the Inland Empire, where massive distribution centers transformed dairy land into logistics infrastructure serving the Ports of Los Angeles and Long Beach. But eventually success created its own problem. Land prices soared. Entitlements became harder. Traffic worsened. Power became constrained. Labor costs climbed. And residential neighbors complained loudly. Then came Covid. Global supply chains broke. Calls for companies to “re-shore” from China increased. Demand for warehouse space soared. Rents doubled overnight. Occupiers needing large buildings began pushing outward. Some moved to Phoenix, Reno, or Las Vegas. Others looked north. That search eventually led to Bakersfield. At first glance, the appeal seems obvious. Bakersfield sits near the population center of California, at the southern gateway to the Central Valley, connected by to the state via Highway 99 and Interstate 5, and to points east via the 58 corridor. It offers overnight proximity to both Northern and Southern California without the pricing of either. Large tracts of land still exist. Truck access is efficient. Development politics remain comparatively pragmatic
by California standards. But newcomers quickly learn the market operates differently than larger coastal cities.

Relationships matter here. Many of the most significant industrial sites are still controlled by local families who have owned land for generations. Deals often move through longstanding personal relationships before they ever reach a formal marketing process. A newcomer expecting a fully institutionalized marketplace sometimes discovers that the most valuable information is still exchanged over breakfast meetings, truck tours, and introductions that begin with, “You should probably talk to so-and-so.” The market itself also reflects Bakersfield’s unusual economic DNA.

Unlike pure logistics markets, Bakersfield industrial real estate sits at the intersection of multiple industries. Agriculture drives demand for cold storage, food processing, packaging, equipment yards, and transportation facilities. Oil and energy companies require fabrication shops, pipe yards, maintenance facilities, and heavy industrial acreage. Distribution users increasingly need modern high-cube warehouses capable of serving statewide logistics networks. As a result, industrial product types here can vary dramatically within just a few miles.

One building may house refrigerated produce exports. Another may support oilfield services. A third may be a million-square-foot regional distribution center with
thirty-six-foot clear heights and ESFR sprinkler systems designed for modern e-commerce logistics. Power availability has also become one of the defining issues of the current cycle. In many industrial markets, developers primarily worry about land and construction costs. In Bakersfield today, serious industrial conversations increasingly begin with a different question: “How much power is available?” Cold storage, food processing, EV-related manufacturing, automation, and modern distribution operations all require substantial electrical infrastructure. Securing adequate utility capacity can determine whether a project succeeds, stalls, or never breaks ground at all.

That reality has elevated infrastructure from a background consideration into a central driver of land value. And yet, despite its growth, Bakersfield still retains a
degree of unpredictability uncommon in more mature industrial markets. Oil prices still matter here. Water still matters here. Air quality regulation matters. Rail access matters. So does California politics. A change in environmental policy, trucking regulations, or agricultural economics can ripple through the industrial market surprisingly fast. That combination creates a market that feels simultaneously modern and old-fashioned. Institutional investors now pursue Bakersfield aggressively, yet local knowledge still carries enormous value. Massive national developers compete alongside local operators who know every parcel, every drainage issue, every farmer, every utility constraint, and every political undercurrent.

 

For newcomers, that is often the most surprising part. Bakersfield industrial real estate is not simply a smaller version of Los Angeles or the Inland Empire. It is its
own ecosystem entirely — one shaped equally by logistics, agriculture, oil, land economics, infrastructure, and relationships. And in a state where industrial development has become increasingly difficult, Bakersfield increasingly occupies a rare position: A place where California still has room to grow.

https://comms.cushwakedigital.com/brochure/VRXuT4mr328uflLrExYqgZTW59fdUl4udYnkP7blw8rwjMBxl1slMpspYj7LfNcO

By Faughn Economy • New Location • Quality of Life • Workforce 0 Comments

Meet the couple behind Tulare’s first Chick-fil-A

Brett McKinnon spent 19 years working for Chick-fil-A before becoming the first operator to open a location in the South Valley — a milestone he called “humbling and incredibly rewarding.”

McKinnon and his wife, Amber, previously worked as directors, a high-level management role, at a Chick-fil-A in South Carolina before setting their sights on the Central Valley.

Chick-fil-A doesn’t operate as a traditional franchise. The company owns its restaurant locations and equipment, and operators are selected through a competitive application and development process, with only a $10,000 upfront fee.

The McKinnons’ Tulare restaurant, located just off Highway 99 on East Cartmill Avenue, held its grand opening May 7, bringing the chain to a market it had not previously served.

To celebrate, the McKinnons and their team hosted a “Moove-In” party starting at 6:30 a.m. Customers dressed in a full cow costume or wearing cow-spotted accessories received a free entrée or kids meal.

Chick-fil-A is known for its fried chicken sandwiches, wraps, nuggets and tenders, made from a 60-year-old recipe. Its signature smoky Chick-fil-A sauce and waffle-cut fries are also popular menu items.

A Chick-fil-A location in Visalia is set to begin construction soon, to become Tulare County’s second location.

In honor of the new location, Chick-fil-A pledged to donate $25,000 to the Central California Food Bank, Central California’s largest hunger-relief organization, serving Fresno, Madera, Tulare, Kings and Kern counties.

The new restaurant created around 120 jobs.

There are more than 3,000 Chick-fil-A locations in the U.S., Puerto Rico and Canada, with plans to expand into Europe and Asia. California has about 200 locations. The Tulare restaurant is the fourth in the Central Valley, joining two in Fresno and one in Clovis.

https://thebusinessjournal.com/chick-fil-a-tulare-first-south-valley-location/

By Faughn Economy • Quality of Life 0 Comments

How many homes are getting built in Merced in 2026?

Homebuilding plays a critical role in maintaining a steady housing supply and keeping prices at sustainable levels. As the U.S. population grows, more housing is needed to meet demand. Since the Great Recession, construction has lagged well behind what is needed, which is one of the main reasons home prices are so high today.

Supply has slowly increased over the past few years but is still below what is needed for the market to balance out. Until that gap closes, prices are likely to remain elevated, and many buyers will likely struggle to afford a home.

So, how many homes are getting built in Merced, CA, in 2026? Is construction increasing or decreasing? Redfin Real Estate analyzed the seasonally-adjusted annual rate of housing permits issued in the city each month over the past year to find out. National permit data is a seasonally adjusted annual rate; metro-level permit data is the non-seasonally adjusted total number of permits issued per month.

https://www.mercedsunstar.com/news/local/article312683467.html

By Faughn Economy 0 Comments

Madera Economic Summit highlights growth potential, regulatory hurdles facing the county

The Madera Economic Development Commission brought together a group of leaders across the state Wednesday for its 2026 Economic Summit at San Joaquin Wine Co., where panelists discussed rapid growth, regulatory hurdles, and long-term economic risks shaping the future of Madera County.

The Business Journal’s Managing Editor Gabriel Dillard served as moderator.

Much of the discussion focused on how and why Madera County has emerged as a growth leader in California. Developer Timothy Jones, who developed the Riverstone community, said that projects like Riverstone have succeeded despite early skepticism, giving credit to local partners and demand for housing.

“I think that the state of California needs houses,”Jones said. “I think that you have the opportunity to deliver those houses. I think with those houses will come commercial, retail, industrial opportunities that generate tax dollars that are going to benefit the communities in this area tremendously, and the key is just going to be to have the vision and support and effectuate.”

Joshua Peterson, Trumark’s president for its Central California division, said that timing has played a role, pointing to northward expansion that started in Fresno and has worked its way up to Madera with Riverstone and Tesoro Viejo developments.

He highlighted the importance of long-term planning to convert “bedroom communities” into job centers.

Panelists agreed that regulation continues to be the most significant hurdle with development. Sarah Bohn, the vice president of the Economic Policy Center for the Public Policy Institute of California, cited research showing California businesses face thousands of regulatory constraints, contributing to slower job growth and reduced competitiveness.

“Uncertainty and the volatility in the crisis in trade policy and other issues that are really driving pessimism among Californians,” Bohn said. Overall, Californians are pretty pessimistic, including small businesses, only 15% think now is a good time to expand their business.”

From an industrial perspective, Michael Matter, vice president of Central Valley Industrial Real Estate for Jones Lang LaSalle, said that Madera County has an opportunity to position itself as a logistics hub but currently lacks shovel-ready sites that are large enough for distribution facilities like Amazon.

Matter pointed to the need for more entitled industrial land and infrastructure to attract major users.

“Madera has the potential to become a logistics hub,” he said. “In my opinion, the some of the bigger challenges are with a million square feet being kind of the soup du jour for large occupiers.”

Energy access also came up as a recurring issue, with Jones even noting that a company had backed out of the area after not wanting to be in an area that PG&E covers.

Despite some of the risks, the panelists expressed optimism in the county’s future. With continued housing development, improved planning and targeted industrial recruitment, Peterson said that region could become a “formidable force for economic growth compared to surrounding counties.”

 

https://thebusinessjournal.com/madera-economic-summit-highlights-growth-potential-regulatory-hurdles-facing-the-county/

By Faughn Economy • Quality of Life 0 Comments

Madera County approves $130 million Highway 41 expansion

MADERA, Calif. (FOX26) — Eastern Madera County’s rapid growth is set to bring major changes to one of the region’s busiest routes, after county leaders approved a sweeping expansion of Highway 41.

In a unanimous vote, the Madera County Board of Supervisors approved the widening of Highway 41 between Avenue 10 and Avenue 15 to four lanes in what was called the largest public works expansion project ever for the county.

The project carries a $130 million price tag. The expansion also includes a new southbound bridge over Avenue 11, a new signal at Avenue 12, and modifications to the existing signal at Avenue 15. Construction and inspection bids were awarded to California Construction Management and Engineering Inc. and Yarbs Grading and Paving Inc.

The project is expected to break ground in May and is scheduled for completion in May 2028.

No existing lanes will be blocked off during construction.

Funding for the project is covered by road impact fees, a federal grant, discretionary federal funds, and property tax revenue from housing and commercial developments along the corridor.

https://kmph.com/news/local/madera-county-approves-130-million-highway-41-expansion?mc_cid=3bbcf9f830&mc_eid=c4726fd3b7