-January 18,2020-
Porterville’s former Payless Shoe Source is closed but Bath & Body Works will take over the space says developer Dave Paynter who owns the center. The popular retailer would be new to Porterville.
Tulare’s building permits for 2019 are in and valuation climbed from $117 million in 2018 to $146 million in 2019 says the city. The increase did not mean construction of more single family homes however.In 2019 the city saw permits for 331 new homes vs 341 in 2018. New commercial activity was improved, climbing from $6 million 2018 to $17 million in 2019. Commercial alterations were higher and multi-family construction value doubled as well.
Tulare’s long awaited assisted living project near Hwy 99 and Cartmill is finally under construction under the direction of Bethel Church. Harmony Gardens Village has filed $19 million permit for their 91 unit,100,000sf project as the new year began The property is south of Cartmill Avenue and north of the Tulare Outlet Center, between Highway 99 and Retherford Street. The big development has been in the works for nearly 2 decades.
Visalia development remains in good shape and it is reflected in the city’s sales tax tax and property tax receipts. A report to council this week said Sales Tax had a growth rate of 4%, Property Tax 6%, and Business License 13%. Property Tax continued on its upward trend growing 6% as property values and growth continued in Visalia. Transient Occupancy Tax had a slight decrease of .6% for the year. Franchise Fee revenue increased mainly due to increases in both gas and electricity franchise fee revenue received. Business Licenses revenue increased 13% this fiscal year as businesses are experiencing increases in gross sales and collection efforts remained strong.”
Visalia’s empty Togo sandwich spot in Downtown Visalia will be backfilled by Maximo’s Taqueria at 423 W Main.
North Visalia will get a UPS retail shipping and copy store at the center next to Subway on Dinuba Blvd. The new store will open in February. It is the third UPS retail store in town
Homes Sales in Tulare County up 33% Low interest rates boosted the housing market in second half of year as home prices posted strong gains in December says California Association of Realtors.
In Tulare County existing home sales were up 33% in 2019 vs 2018 and the median home price climbed to $252,000 from $236,450 a year earlier. That sales volume increase was the highest in the Valley although sales on the Central Coast were even higher increasing to 42% year over year.Statewide the median home price was $615,090, up 4.3 percent from November and up 10.3 percent from December 2018.For 2019 as a whole, sales of existing statewide homes were up 7.4% year over year.
Sales have been juiced by low interest rates. California Association of Realtors say the 30-year, fixed-mortgage interest rate averaged 3.72 percent in December, down from 4.64 percent in December 2018, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 3.39 percent, compared to 4.02 percent in December 2018.
Big bucks for improving trail systems – Plan were released to fun 2 large trail systems improvement in Porterville and Visalia under TCAG funding. In Porterville the Butterfield Stage Corridor would be a Class I multi-use path that includes amenities such as solar lighting, drought tolerant landscaping, drinking water stations, refuse receptacles, benches, wayfinding, and controlled lighted crossings, and the installation of curb, gutter and sidewalk improvements to the east and west of the proposed corridor at various locations to improve accessibility.The budget is $21 million.
In Visalia,the existing Goshen Avenue Trail would get a $9.6 million rehab along 6 miles from Camp Drive to Giddings Street along Goshen Avenue Alignment. Project will replace existing 8 ft. wide deteriorated asphalt trail and elevate trail to prevent future flooding and will extend existing trail from Miller Park Court west to Camp Drive . Project to include installation of trail amenities such as solar lighting, park benches, trash receptacles an additional trees and irrigation.