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OLD
TOWN NEWHALL:
READY FOR REVITALIZATION AND DEVELOPERS
“OldTown Newhall has very good potential to strengthen its destination appeal to the Santa Clarita market area.” --2007 Retail Opportunities Analysis for OldTown Newhall
Santa Clarita was recently named as the Best City to live in California by CNN/Money Magazine. The Los Angeles Economic Development Corporation named Santa Clarita as one of the top five most business friendly cities in Los Angeles, and America’s Promise named Santa Clarita as one of 100 best communities for young people. Located in the City of Santa Clarita is the historical and cultural treasure of Newhall, poised for revitalization and ready to welcome developers who share the City’s vision of creating a pedestrian friendly, destination commercial area.
Rich in history, and loaded with charm, Old Town Newhall is a 271-acre, mixed-use revitalization area in the heart of Santa Clarita - just minutes north of Los Angeles. Featuring historic points of interest, a state-of-the-art community center, the Newhall Metrolink station and a thriving arts scene, Old Town Newhall offers a unique opportunity to establish a strong presence in one of Southern California's fastest growing communities.
The City of Santa Clarita and Redevelopment Agency are committed to enhancing the best of Old Town Newhall while developing new shopping, dining, and nightlife venues that are representative of Newhall's history and character. The Santa Clarita Redevelopment Agency recently adopted the Newhall Specific Plan (2.3mb  ) to transform downtown Newhall into a thriving, mixed-use, pedestrian-oriented urban village with a series of economic engines.
The Newhall Specific Plan area consists of a 20-block downtown served by Metrolink commuter rail, a commercial corridor in downtown, two flanking neighborhoods, and an industrial district. Millions of dollars of City-sponsored projects have provided a great start to the specific plan. Upon build-out, the Specific Plan will include up to 1,092 new residential units and nearly 1 million square feet of new commercial space. A portion of this growth will be attributed to new development, while some will also include revitalization of existing buildings.
The centerpiece of the specific plan is the transformation of San Fernando Road into a pedestrian-oriented 'Main Street' with public buildings, parking garages, an open air market (Mercado) and mixed commercial and residential development. Other elements such as Hart Park and historic sites are also discussed and incorporated into the specific plan. The Newhall specific plan is expected to be fully implemented in 10-15 years.
Most recently, the City commissioned a Retail Opportunities Analysis to ascertain the undersupply of retail categories as they relate to potential development that will serve the area. Topping the list of needs identified in the study are a new movie theatre, more restaurants, and additional shopping opportunities. Surprisingly, the study shows that the Santa Clarita Valley is one of the few market areas in California that has an under-supply of movie theatres, revealing a prime opportunity for investors in the Newhall area.
The study suggested that the ideal tenant mix that would best be supported by market demand, includes 25% specialty/miscellaneous retail; 15% restaurants and food; 15% home improvement furnishings market; 15% personal services, medical and dental, as well as a smaller mix of general merchandise, auto related and non retail. Currently, the area is comprised of 39% personal services, medical dental; 16% non retail/vacancies; 11% auto related; 11% specialty/miscellaneous and retail, as well as smaller percentages of restaurants, food, home improvement, furnishings, and markets.
The study calls for significant retail tenant opportunities and development, including a few significant medium box tenants which are not currently located within or near the southern Santa Clarita market area. New development standards in downtown Newhall allow mixed uses, such as office and residential space, which will increase the current trade area population of 250,000 within the Santa Clarita Valley.
The study praised the City’s efforts to date to revitalize the area, noting the addition of the Newhall Metrolink station which provides transportation to Los Angeles, the San Fernando and Antelope Valleys, the addition of important infrastructure to the area, including the realignment of Railroad Avenue with historic streetlights, the addition of curbs, gutters and sidewalks to area streets, the beautiful 7-acre Creekview Park and the soon-to-be-completed restriping project that will provide for angled parking along “Main Street.” Important to incoming developers is the City’s investment of new enhanced streetscapes and parking lots, such as at the Metrolink Station and adjacent areas. All in all, City infrastructure investments in Old Town Newhall are expected to surpass $35 million.
“In all of my years in local government, I have never seen an opportunity like the one that exists now for developers in Old Town Newhall. The ability to get in on the ground floor in a top Southern California city is something that doesn’t come along very often,” added Paul Brotzman, Director of Community Development for the City of Santa Clarita.
More information is available by calling the City of Santa Clarita at (661) 286-4030.
Contact: Chris Price
Project Manager,
Downtown Newhall Specific Plan
23920 Valencia Blvd., Suite 210
Santa Clarita, CA 91355
Phone: (661) 286-4030
oldtownnewhall@santa-clarita.com |
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