On December 9, 2010 the Agency approved an Owner Participation Agreement for new retail development at the southwest corner of Fresno and “E” Streets. The project enhances one of the main entryways into Chinatown and Downtown Fresno. The public private partnership resulted in an enhanced architectural design for the exterior façade and an upscale landscape area that includes a distinctive public sculpture and off-site improvements that together improve and serve the neighborhood. The new facility includes a 4,640 square foot retail space, a 1,748 square foot gasoline island and canopy.
The project's land and construction improvements total about of $2.45 million representing a 600% increase in assessed valuation for this site. The development is expected to create about 26 jobs and generate $40 million in retail sales over the next five years.
The gasoline island and phase I of the retail shop was completed and opened for business in March 2011. Phase II will begin construction in July 2011.
The public sculpture, “Celebration”, was produced by a local artist selected by a 9-member panel and was installed in June 2011.