Reshaping downtown

By gedward on December 17, 2005 12:13 PM | Permalink | Comments (0)

A handful of plans currently in the works will reshape downtown Riverside and, for the first time in a long time, include serious mixed-use development with an emphasis toward residential uses. The projects, which include a balanced mix of condos, townhomes, lofts, commercial and arts uses are expected to begin taking shape throughout 2006. Each will greatly add to the vibrancy of Riverside's historic core -- one of the few genuinely historic downtowns in Southern California.

Reshaping downtown
The Press-Enterprise

The eclectic Mission Inn
anchors downtown's renaissance

Fifth & Main streets offers leisurely
shopping, dining and strolling

Downtown Riverside poised
to get more offices

Probably the most anticipated of the projects will be a renovated Fox Theater along with a mixed-use companion, Fox Plaza. The former will bring back to life a long-missing civic arts theater while the latter is the largest of the various projects planned, combining condos, lofts, a small 150-room hotel and other commercial uses. The project takes in both sides of a two-block portion of Market Street between Fifth Street and Mission Inn Avenue.

Also eagerly anticipated are two similar residential projects backed by former HUD secretary Henry Cisneros' CityView corporation, national builder Lennar and Century City-based developer Mark Rubin (builder of Riverside's Mission Grove). Both projects envision condos and townhomes along Market and Main streets between First and Third streets. Nearby, a SavOn is being built with what's being called a mini-Albertson's within.

With the recent residential transformation of downtown San Diego, and on a much lesser scale, downtowns in Los Angeles, Pasadena, Long Beach and Glendale, it's high time such mixed-use development again finds its way to downtown Riverside, a locale that easily rivals -- albeit on a smaller scale -- most of the aforementioned downtowns.

Without a doubt, it's only a matter of time before such projects do in fact begin to take shape in downtown Riverside, though admittedly, it seems to be taking much longer than it should. Quite frankly, it suggests the lack of serious, in-depth knowledge of Inland Southern California's environs by many LA-based real estate media, financial and development gurus. There are notable exceptions, but in general, this seems to be the rule.

To be fair, however, it also highlights the lack of maturity of the local market with regards to mixed-use development. But, as home builders have known for years and commercial builders have recently rediscovered, Inland Southern California offers Greater Los Angeles' largest untapped market for future, mixed-use developments. Nowhere else will this be more evident than in western Riverside County, wherein the County's long-range general plan (RCIP) eyes "transit villages" as the core for future development.

Indeed, most planners agree that some form of transit oriented development is the only real solution at helping alleviate America's overburdened freeways choking our suburban expanses. And unlike much of Southern California, Riverside County is at least attempting to plan for the likelihood of such TOD developments -- before it's too late.

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