tg wrote this at 6:26 pm on November 8, 2005:

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I just attended the Mayor’s lunch at the La Quinta resort. The lunch was a chamber of commerce event focused on commercial development in La Quinta. It was very interesting and exciting to see how quickly business is growing in LQ. Here are the highlights:

• There will definitely be a Costco in La Quinta’s future. The committment is there, but it sounds like some logistical details still need to be worked out.
• There’s a new shopping center at the corner of Fred Waring and Jefferson at The Mill.
• Two new businesses opened at Point Happy: Okura Sushi and an ice cream parlor. Lampost Pizza also has opened near the Staples building on Hwy 111.
• The 99 Cent store and Smart and Final are opening soon on the South side of Hwy 111.
• Trader Joes should open within the next 2-3 weeks.
• There is a new office building being built on Calle Tampico adjacent to Ace Hardware. It is still in its beginning stages.
• Eisenhower Medical center is planning to have an outpatient based in La Quinta.
• Old Town La Quinta’s Phase II should start framing within 2-3 weeks (their utilities are currently in). Phase II will bring 50,000 square feet of retail space and 14 new retail shops with 1 new restaurant to La Quinta. Old Town has focused on feedback and is bringing in retail shops and boutiques from the coastal cities along with a few national brands. Presently Old Town has been focusing on 3 different types of events to help with local traffic:
• The La Quinta Playhouse
• The Arts Under Umbrellas
• Old Town Street Affair (every Wednesday night)
• Silverrock has its liquor license! They are now serving food and beverages at the grill. The city is slowly working on nailing down its growth plan and Mayor Adolph anticipates that it will be fully mature (with hotels, shopping restaurants etc.) in 10-12 years.
• The medical office building being built at the corner of Washington and Lake La Quinta drive is on its way and coming closer to completion — it should be finished within the year. They have had “active” prospecting, but it sounds like they don’t have any confirmed tenants for the building yet. This is the 6th medical office building that this company has built in Southern California.

Couple residential points:

• 317 acres were just approved for development at Coral Mountain in Southern La Quinta. There will be 219 single family homes constructed.
• Low income rental housing is being developed at the SW corner of Dune Palms and Avenue 48.

That’s all I got for now!

Filed under: Real Estate

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