FAULCONER, COLE TAKE DEVELOPERS THROUGH LOW-INCOME AREA RIPE FOR AMBITIOUS PROJECTS
By David Garrick
Mayor Kevin Faulconer and District 4 councilwoman Myrtle Cole joined the Jacob’s Center for Neighborhood Innovation to look at more than a dozen areas that have investment potential.
Mayor Kevin Faulconer and District 4 councilwoman Myrtle Cole joined the Jacob’s Center for Neighborhood Innovation on a bus tour of more than a dozen areas that have investment potential.
The Jacob’s Center owns more than 50 acres of land, which it hopes to work with others to revitalize the community through offering leasing incentives.
One of those 17 spots – an eight-acre lot on Euclid Avenue near the 94 freeway – is a Jacob’s Center hopeful for businesses, housing and retail shops.
The city said it’s ready to cut the red tape, making it easier to rezone the land, some of which was designated for industrial use or housing.
That zoning could be changed to be able to build markets, mini malls or apartment buildings, they said.
And with those types of developments comes job creation.
Councilwoman Myrtle Cole said the incentives to open businesses in the area are huge.
“We have a spending power of $1.9 billion,” she said. “$1 billion is going outside our district because we don’t have the restaurants and stores. That’s what I’m wanting all the developers and investors to see.”
Those spending figures come from Nielson Media and there is already one company that has invested in the area.
Just down the street, on Euclid Avenue, a Walgreen’s Pharmacy is scheduled to open in March.
Some leaders in Southeast San Diego hope there is more to come.