The broken Fairfield Gateway promise has hurt Solano property investors.
What can Solano real estate investors believe if a Solano city promises to improve an area? City redevelopment boosts property values, hence induces people to invest. But if the city doesn't keep its promise one can lose millions of dollars. A local case in point follows.
The city of Fairfield promised investors on its main street, West Texas Street that Fairfield would follow up with redeveloping the city's main gateway. But the money disappeared long before the recession hit. Current city excuses about the governor taking away money and the recession don't stand up.
Meanwhile Solano County did their part and built the wonderful new county capital building. It was meant to be the main attraction for drivers going through West Texas Street. The Solano board of supervisors did a great job.
Today there's an interested construction company buyer wishing to purchase an important building in downtown Fairfield. The three-year old Art Explosion - an art gallery and studio space there was using it until a buyer was found.
The Fairfield real estate property buyer wants to tap into all the Fairfield traffic coming through West Texas Street leading into the new Solano County capital building. The key concern is will Fairfield city keep it's promise to redevelop the city's main gateway in 2000?
Where did the money for fixing West Texas Street go before the recession hit? More people will spend money in downtown Fairfield, creating more job openings when the city follows through its promise to quickly redevelop the street. Construction was to start in 2000 or so. It's a win-win for everyone. There is much more on this interesting story in this blogs other articles at www.FixFairfield.org.
So Solano real estate investors should be careful. There's plenty of back stabbing and other unsavory activity that goes on with some parts of local government. But there are many good election candidates that would never break an agreement like the Fairfield Gateway Promise.
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