Woodland Downtown Garage

City of Woodland
Downtown Garage Project
Woodland Redevelopment Agency
LOCATIONAL ADVANTAGES
DT District
National Register of Historic Places
What is Woodland?
• Government
21%
• Manufacturing, agricultural & wholesale
19.3%
• Retail, sales, office & service industry
41%
How is Woodland Doing?
Woodland
Yolo
County
California
7.2%
6.9%
4.3%
Median HH
Income
$44,449
$51,128
$47,493
Per Capita
Income
$18,042
$24,892
22,711
Unemployed
2000 Census
State now 7.7%
ECONOMIC DEV’L STRATEGY
-Maintain ag and ag-related
industry
-Diversify economic base
-Attract more brain-powered
jobs
•Provide developable land for
new businesses
•Change DT image to entertainment
and restaurant destination as
magnet for new development
The effects of movie theatres
heater
t
2
1
dium
a
t
wing
S
a
r
e
d
h
T
LODIntown
w
o
o its
t
D
e
p
l
u
p
o
s
n pe
light
o
i
l
l
i
m
1
nearly
s.
screen
Salvation: tu
rning DTs int
o
entertainmen
t, specialty s
hopping
and restaura
nt destinatio
ns
And the bigg
est draw of a
ll is a
modern mov
ie theater.
DT Obstacles To New
Development
• Infrastructure
• Developable land
• Entertainment and restaurants
• Parking, parking, parking
Opportunities for New Businesses
•
•
•
•
28,000 sqft
30% Vacant
Lack of parking
Owner can’t attract or
retain tenants
Garage Project Advances City
Economic Development Strategy
• Builds on locational asset
• Allows other businesses to grow and fill
underutilized and vacant space
• Saves surface land area that can be used
for new development
• Magnet for commercial development, e.g.
location of modern multi-plex theater DT
Job Impact of Garage
COMPANY
USE
JOBS
CREATED
LEVEL OF
COMMITTMENT
Cinema West
Movie theater
29 FTEs
Lease agreement signed
with theater operator
Wiseman
Company
15,000 s.f. of retail
space in theatre
complex
23 FTEs
Committed. New
restaurant
Retail space in
garage
35,000 s.f.
40 FTEs
Interest
Filling vacant DT
space
Restaurants, retail,
offices
120,000 SF of
new commercial
on 3 acres
Mixed Commercial
and Retail Space
Yolo County
Courts
New courtrooms
Total
Spin-off effect of 319,000
theater attendees
55 Retail
240 Office*
Interest
88 FTEs
Committed
475
Noteworthy Project Examples
Award Winning
City of Woodland
Police Station, Community Center,
Fire Station
$52 M
Historic Woodland: Downtown
Garage