RiversideCa.govRiversideCa.gov

California Association for Local Economic Development

November 13, 2014

Deanna Lorson, Assistant City Manager

Downtown Redevelopment

City Manager’s Office

RiversideCa.gov

CITY OF RIVERSIDE• FY2014/15 Budget

– Citywide: $914,663211 / General Fund: $240,056,800

• Official Population: 314,034 (2014)– 59th largest in the United States

– 12th largest in California

– 6th largest in Southern

California

• 81.5 square miles

• Incorporated on October 11, 1883

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RIVERSIDE DOWNTOWN PARTNERSHIP

• Established in 1986• Not-for-profit

organization that partners with the City and downtown retailers, businesses and stakeholders

• Promote Business Activities

• Sponsors Public Events• Maintenance• Security

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PUBLIC INVESTMENT• Convention Center $43,630,000• Fox Theater $31,193,000• Fox Entertainment Plaza $18,769,000• Parking Garage No. 6 $13,079,097• Fire Station No. 1 $12,302,000• Main Street Revitalization$10,296,516• Municipal Auditorium $10,098,470• Metropolitan Museum $1,989,200• Other PW Improvements $26,472,025

TOTAL $167,829,308

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RIVERSIDE CONVENTION CENTER

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RIVERSIDE CONVENTION CENTER

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RIVERSIDE CONVENTION CENTER

March 2014 – June 2014 Summary• Events 94

• Visitors/Attendees 70,667

• Hotel Rooms Consumed 6,044

• Hotel Room Revenue $636,405.93

• 161 confirmed bookings (July 2014 to September 2020)

• 49 tentative bookings (July 2014 to May 2018)

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RIVERSIDE CONVENTION CENTER

Riverside Convention & Visitors Bureau and the Riverside Sports Commission (FY2013-

2014)• Events 133

• Visitors 71,218

• Hotel Rooms Consumed 23,849

• Hotel Room Revenue $2,403,120.84

• Economic Impact (Est.) $6,569,133.99

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FOX THEATER

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FOX THEATER

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FOX THEATER

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FOX ENTERTAINMENT PLAZA

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FIRE STATION NO. 1

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FIRE STATION NO. 1

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PRIVATE INVESTMENT• RCCD Renaissance Block $80,000,000• Regency Tower $65,000,000• Raincross Promenade $43,000,000• Stalder Project $42,000,000• Gateway Offices $25,000,000• Imperial Hardware Project $22,000,000

• Culver Center for the Arts $18,000,000TOTAL $295,000,000

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REDEVELOPMENT

Stalder Project by Regional Properties

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REDEVELOPMENT

Imperial Building Project by Ratkovich Properties, LLC

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D DOGS

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SALTED PIG

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MOLINOS COFFEE

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PRO BITION

A

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MEZCAL

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HEROES RESTAURANT & BREWERY

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REGENCY TOWER

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REGENCY TOWER

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CITRUS TOWER

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CITRUS TOWER

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DOWNTOWN INVESTMEN

TS

PublicPrivateCity Hall/County Administrative CenterCourts

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WELCOME TO RIVERSIDE!