A participant rappels down the Pacific Southwest Building (2012). Photo via Downtown Fresno Partnership

One of my closest gal friends and I often give ourselves “bold challenges” to push ourselves to try new things. Now, I have set a bold challenge for myself; bolder than any other challenge I will complete for 2013! I am going to take part in Downtown Fresno Partnership’s event, called Over the Edge. I’m going to rappel down the tallest building in Fresno, the Pacific Southwest Building. Over the Edge raises money to maintain the downtown Fresno ice rink.

I’m taking part in this event because I adored the inaugural season of the ice rink ( November 2012 to January 2013). I couldn’t stop blabbing about it to my downtown and North Fresno friends. According to the Downtown Fresno Partnership, over 30,000 people skated on the ice rink, during its first run. One-third of those people had never been to downtown Fresno. That is a big step forward in revitalizing downtown!

This is what I consider a slow day on the outdoor ice rink. The rink would get packed! Photo via Downtown Fresno Partnership.

Slather on the sunscreen or wear your biggest sunhat, and join me on June 1st as I go over the edge. Then, let’s go ice skating this winter. The outdoor ice rink is located on the Mariposa Plaza of the Fulton Mall. It will open, every day, from November 8, 2013 to January 20, 2014. I’ll be that gal wearing the red riding-hood.

You can donate by visiting my fundraiser page. Donating is safe and secure. You can pledge to rappel or support other participants, here.

Over the Edge will take place Saturday, June 1, 2013. The Pacific Southwest Building is located at 1060 Fulton Mall (on the corner of Mariposa & Fulton Mall).

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Have a lovely day in Fresno!

Veronica Stumpf, Co-Broker

Stumpf and Company, Commercial Real Estate

DRE Lic. #01906952

CArtHop in River Park started quietly. Photo by CArtHop.

CArtHop started about three months ago with the help of Downtown Fresno Partnership, Creative Fresno, Dusty Buns and Fresno Brewing Company, to name a few. Its first home is the north end of the Fulton Mall, every Thursday, from 10am to 2 pm.

CArtHop has added two locations, this week alone: Tuesdays in River Park Area and Saturdays at downtown Fresno’s outdoor ice rink!

CArtHop is a regular event that brings Fresno’s mobile food vendors together. According to Fresno Bee’s coverage on CArtHop, the vendors must meet the following guidelines:

Participating vendors must get all of their ingredients from California or 50% of their ingredients within 100 miles of Fresno. They also must pledge not to use genetically modified food and to use recyclable or compostable supplies such as plates.

There is often live music at CArtHop's events. Photo by CArtHop.

FROM DOWNTOWN TO RIVER PARK

Great use of the vacant adjacent t to a highway off ramp. Photo by Mathr de Leon.

When I heard that CArtHop was adding a location in Riverpark, I pictured it in front of Edward’s Theater. Instead, it’s at a more convenient location than I thought.

The Tuesday addition of CArtHop occupies the vacant lot adjacent to the Highway 41 and Friant off-ramp (look for the Applebee’s).  North Fresno’s tallest office buildings are within walking distance.

A handful of vendors made their way to North Fresno, Tuesday. You had a choice of Dusty Buns‘ gourmet food, Tako BBQ’s Korean fusion cuisine, Casa de Tamales‘ fusion tamales, Benediction’s breakfast for the 21st century, and fried pies from Summertime Pies.

CHANGING THE FACE OF FRESNO

The crowd got a lot larger during the lunch hour. A lot of nearby office workers walked to the food trucks to see what was going on. Photo by Dusty Buns.

Even a small cluster of food trucks, in Fresno, can cause a stir. It was evident a lot of North Fresnans didn’t know what to think of this event. I’ve gone to Fulton Mall’s CArtHop, a few times, and was curious to see how it would do in North Fresno. It also helped I live in North Fresno and River Park is on my way to work!

I ran into my friend, Ryne, and we spent our early lunch people-watching.

We noticed an elderly lady, with a cigarette dangling from her mouth, walking along the line of food trucks. She had on a worker’s badge from a nearby office building. She then walked up to Ryne and I and asked what was going on. “Lunch,” I replied. Even with her sunglasses on, I had a sense she was rolling her eyes at me. We tried selling her on the concept of food trucks. Perhaps, she needed a break from going to Applebee’s for lunch.

She was not amused. She said the property owner would never allow food trucks. “When was the last time you every heard music in a parking lot?!” she asked in a raspy voice.

That was the first time someone ever made me feel like a dirty hippie rebelling against the social norm. She is, what I think of, “the face of Fresno.” The majority of our city, at least.

Later, we saw her warming up to the idea of CArtHop. She headed over to Casa de Tamales and spent several minutes looking over the menu. We were surprised when she quietly walked away with a tamale in hand. She even came back to try a pie at Summertime Pies! One small victory for CArtHop.

WHERE YOU CAN CARTHOP

Tuesdays at River Park

10am – 2pm

Next to the Highway 41 & Friant on-and-off ramps. (Look for the Applebee’s). Map, here.

Thursdays on the Fulton Mall

10am – 2 pm

In front of Fresno Brewing Company (1243 Fulton Mall). Map, here.

Saturday Evenings at the Ice Rink

5pm – 9pm  (till January 12, 2013)

In front of the Pacific Southwest Building (1060 Fulton Mall). Map, here.

FOLLOW CARTHOP FOR UPDATES

“Like” on Facebook, here.

Follow on Twitter, here.

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Have a lovely day in Fresno!

Veronica Stumpf, C0-Broker

Stumpf & Company, Commercial Real Estate

DRE Lic. #01906952

Improving the Fulton Mall is the the City of Fresno’s number one priority in revitalizing downtown Fresno. I talked about the deteriorating condition of the Fulton Mall in this blog post.

The Advisory Committee for the Fulton Corridor Specific Plan (FCSP), nominated three options for the future of the Fulton Mall. After the environmental review process, the City Council is expected to adopt an option next year. The new Fulton is expected to be completed by the summer of 2015.

The City was rewarded $1 million to complete the design and engineering of the options. The City is applying for federal grants -up to $20 million- devoted to traffic projects for economic development. Some of the money might be used to construct the Fulton project.

WHY START WITH THE FULTON MALL?

The Fulton Mall is Fresno’s historic main street and represents the overall health of Fresno. The idea is that if the Fulton Mall is successfully revitalize, it will act as a domino effect for other areas in downtown. “I have never seen a downtown revitalization that started with the secondary streets,” Craig Scharton, Director of Downtown and Community Revitalization for Fresno, says.

THE FUTURE

Click on the titles to learn more about each option:

OPTION 1: RECONNECT FORMER STREET GRID ON TRADITIONAL STREETS

OPTION 2: RECONNECT STREET GRID WITH VIGNETTES

OPTION 3: RESTORE AND COMPLETE THE ORIGINAL VISION OF THE FULTON MALL

Easier way to visually compare the options. These estimates for the cost were calculated by a third party. I have been told, by the City, that each option will cost around $15-20 million to construct. Click on photo to enlarge.

The chart gives you an idea as to which art features will stay on Fulton under each plan. All features will be located in the core of Downtown Fresno. Click on photo to enlarge.

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Have a lovely day in Fresno!

Veronica Stumpf, Co-Broker

Stumpf and Company, Commercial Real Estate

DRE Lic. #01906952

OPTION 1: RECONNECT FORMER STREET GRID ON TRADITIONAL STREETS

(Edited 9/19/12). Photo depiction of Option 1. Crosswalks are placed every half a block and provide space for existing art features. Pruned trees and better signage make store fronts more visible. The sidewalks are wide enough for outdoor seating and pedestrian traffic. Cars can park in front of stores. The facades once covering the upper floors of buildings have been taken down. More street lighting is added and are updated with a historical character.

Features

• Pedestrian right-of-way is replaced with two car lanes that go both ways.
• Easily closed for special community events.
• Wide sidewalks for outdoor seating and walking. Width depends on whether on-street parking will be angled or parallel to the curb.
• 17 of the 20 sculptures  relocated within the Central Business District.
• 252 on-street parking along Fulton Street and 117 metered on-street stalls along the cross streets.

Economic Impact

• Ground floor vacancy will decrease from 26% to 9%.
• 430,000 sq. ft. of space will be newly occupied.
• Annual gross sales will increase from $32.1 million to $79.1 million; a $47 million increase.
• Retail sales will double from $92/sq. ft. to 184/ sq. ft. Some new retailers will generate sales equal to or greater than the industry standard of $372/sq. ft.

Revenue & Cost

• Construction Cost: $12-12.8 million
• Maintenance Cost over 30 years: 3.7 million
• Parking revenue over 30 years: $18.9 million

These figures were estimated by a consulting firm. I have heard, from the City, that each option will cost around the same to construct; $15-20 million. The City is applying for grants -up to $20 million- to help with the construction. The general trend is that a street will cost the least to maintain and the more parking spots will increase revenue.

Support

This option is supported by the Downtown Fresno Partnership (a property-based business improvement district). 50-1 downtown property owners voted to restore traffic to the Fulton Mall.

Option 1 is the Mayor’s second choice.

The Advisory Committee of the Fulton Corridor Specific Plan (FCSP) favors this option, along with Option 2.

One of the sculpture in a three-part series called, "Three Fires" by Claire Falkenstein. The metal and glass sculptures represent the different stages of a fire. They are located in front of the Chuckchansi Stadium's entrance. These sculptures to stay in their current place, under every alternative plan.

Opinion

The following are my opinions regarding Option 1. Please contribute your opinion in the comments. I usually steer away from expressing my opinions on this blog but I thought this would be a great opportunity to feel more confident to state my views, as a real estate broker. Please don’t let me foolishly think I know everything!

Unnecessary amount of art will be removed – The only art features that will remain in their current locations are the three sculptures in front of the Chuckchansi stadium entrance. Instead of being relocated outside of the Fulton Mall, most art features can be placed near the new cross walks. This might be the intention of the plan, as depicted in the photo at the the top of this post. The specific location of the art has yet to be determined in the FCSP.

Risky Trade-off - Option 1 and 2 will result in a drastic makeover. Current businesses might be worst off, during the construction period. Pedestrians will have limited access to stores more than ever. I do not recall reading anything in the FCSP that goes into depth of how the City or the Downtown Fresno Partnership (DFP) will help businesses during construction. Maybe a solution to this issue will be discussed before a plan is adopted. One can make the argument that it would be less disruptive to build a street now while the vacancy rate on the Mall is high (ground floor vacancy is 26%).

Most convenient parking – This option provides the most parking on Fulton Street. Even if a parking spot is not guaranteed, shoppers in Fresno like the idea of having a chance to conveniently park in front of a store. Parking will encourage some drivers to travel down Fulton Street in search of a parking spot. On-street parking will increase store-front exposure. On-street parking will also add more “eyes on the street,” making the pedestrian experience safer.

Chance to improve infrastructure – Constructing a street will provide the City an easier opportunity to improve the Mall’s deteriorating infrastructure while constructing a new Fulton. This will lower the cost of improving infrastructure and save time.

Increase in rent - This option is expected to increase the cost of rent the most. Option 1 provides the most exposure to shoppers which makes retail space more valuable. Property owners will have more money to improve buildings without the dependence on government money. However, we run into the issue of an increase in property taxes. I think the City should maintain current tax levels for the first few years after the completion of the Fulton project. Paired with other tax incentives, property owners are more likely to improve the condition and efficiency of their buildings. It will also attract new investors. This plan does come at the cost of, temporarily, withholding potential money from the DFP. The amount of money the DFP receives is dependent on the amount downtown owners pay in property taxes. The organization operates at a budget of over $500,000.

North end of the Mall. Click on photo to enlarge.

South end of the Mall. The photo depiction shows the possibility of having a street car run through Fulton Street. Click on photo to enlarge.

Online Sources

DRAFT Fulton Corridor Specific Plan

Fulton Mall Alternative Plans – Economic Analysis

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Have a lovely day in Fresno!

Veronica Stumpf, Co-Broker

Stumpf and Company, Commercial Real Estate

DRE Lic. #01906952

OPTION 2: RECONNECT STREET GRID WITH VIGNETTES

Visual depiction of Option 2. Shows what an newly-paved street and a vignette will look like. For each vignette, there will be no parking allowed. The vignettes display the old design of the Mall. Street lighting will be improved, store signage will be more visible and the facades of upper floors will be taken down to make more residential and offices available.

Features

• Vehicular traffic going both ways.
• Six vignettes direct cars around most of the original artwork. These vignettes have the mall’s original pavement and artwork.
• All of the major streets that go through the Fulton Mall open up to cars and on-street parking.
• 127 on-street parking along Fulton Street and 117 metered on-street stalls along the cross streets.
• No parking in the vignettes. The width between the storefront and the street in a vignette area is to be a minimum of 10-feet-wide.
• Five of the 20 sculptures are relocated at the Mariposa Plaza and throughout the Central Business District.
• Streets can be easily closed for special community events.

Economic Impact

• Ground floor vacancies decrease from 26%  to 15%
• 401,300 sq. ft. of newly occupied space.
• Annual gross sales revenue increase by 50%, from $92/sq. ft. to $138/sq. ft. This is 37% of the national average.
• Average annual sales increase by 12%.
• Average rents increase by 8-10%.

Revenue & Cost

• Construction Cost: $11.4-12.8 million
• Maintenance Cost over 30 Years: $4.2 million.
• Parking Revenue over 30 Years: $12.5 million.

These figures were estimated by a consulting firm. I have heard that each option will cost around the same to construct; $15-20 million. The City is applying for grants -up to $20 million- to help with the construction. The general trend is that a street will cost the least to maintain and more parking will generate more revenue.

Aquarius Ovoid (pictured in front of the Fresno Brewing Company) is one of the 15 art features that will remain in their current place. Other water features that will stay in their current location are: part of the clay pipe water feature, Dancing Waters, Valley Landing, and Obos.

Support

This options is supported by Mayor Swearengin. She stated her reasoning in her State of Downtown Address. The reasoning is that in order for Downtown to be healthy, the economic conditions of the Mall need to improve without sacrificing historical significance. Think of it as a compromise aimed to please the most people in Fresno.

Option 2 is Downtown Fresno Partnership’s second choice.

The Advisory Committee of the Fulton Corridor Specific Plan (FCSP) favors this option, along with Option 1.

Opinion

The following are my opinions regarding Option 2. Please contribute your opinion in the comments. I usually steer away from expressing my opinions on this blog but this is a great opportunity to feel more confident expressing my views as a real estate broker. Please don’t let me foolishly think I know everything!

Most of this option’ good and the bad are similar to the arguments I made about Option 1 (link).

Compromises are not the most efficient – It makes sense that this option was selected as one of the alternative plans and is supported by the Mayor. It opens the Mall to vehicular traffic while still preserving most of the Mall’s art and design. However, I don’t think this compromise is the best approach in maintaining economic stability, in the long-run.

Uncertainty of Vignettes – The vignettes cause the road to curve making it uncertain if it will support a future street car. It is unknown how much the width of the roads and sidewalks will increase or decrease. There will be no parking on the vignettes, meaning some businesses will not receive the same exposure. These impacted business will be restricted when it comes to outdoor seating or signage.

North end of the Mall. Click on the photo to enlarge the map.

South end of the Mall. Click on the photo to enlarge the Map. The road will be curved to make the transition from a road to a vignette smoother. The Mariposa Plaze will turn into a round-a-bout with space reserved for only pedestrians.

Online Sources

DRAFT Fulton Corridor Specific Plan

Fulton Mall Alternative Plans – Economic Analysis

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Have a lovely day in Fresno!

Veronica Stumpf, Co-Broker

Stumpf and Company, Commercial Real Estate

DRE Lic. #01906952