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June 1, 2008 Word on the Street: What Retail Corridor/Area Are You Looking Forward to Over the Next Year or So?
The Registry Real Estate Journal
 

I am very interested in the 101 Corridor between Novato and Petaluma, also known as The Narrows. We have a very interesting phenomenon happening there. Both cities have grown residentially and are in fiscal straits - their revenues are not what they once were and they need new revenue to support police and fire and city services. They can raise revenues by sales tax or by raising fees, and there are three to six pieces of property to be developed or redeveloped that will be coming forward in some form or another within the next 18 months to three years. The developments will generate jobs and sales tax. Now is the time for conscientious, smart development, and most smart developers are pounding the pavement, getting out there to hear what people want and what they don't. Novato was very good about identifying what they wanted with a Trader Joe's and a Whole Foods. In the meantime, while cities are looking to generate sales tax income, they are doing a good job of trying to revitalize their downtown communities. It is important to maintain a full cadre of opportunities so residents can spend their money at home.

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