Potential Investors Tour Southeast San Diego SD City Council President Tony Young Trying To Spark Business Interest In District 4
Looking for ways to spark economic development in his district, San Diego City Council President Tony Young took investors and developers on a bus tour through District 4.
From vacant lots with freeway off-ramp access, to previously owned businesses, the tour looped around southeast San Diego to encourage and show investors what’s possible.
“Many of these individuals have never been here before. We think and believe it’s a great place to invest, and what better way to show that is to take them to the locations,” Young said.
Sixteen different spots were highlighted on the tour, from the newly developed Imperial Marketplace with shops and restaurants, to struggling business area where the old Fam-Mart building used to be.
“In the last 90 days, we’ve seen a tremendous interest from lenders to start doing projects again,” said developer Tom Sudberry.
Young quoted a 2007 study which showed the potential purchasing power of the 170,000 residents in his district to be $1.6 billion, but that same study also showed that $817 million of that money was spent outside the district because of the lack of quality shopping areas.
“With construction prices low and access to federal subsidy funds, now is the perfect time,” said another potential developer, Jim Howard of Dudley Ventures. As seen on ABC 10 NEWS