Page 17 - 2023 AV EDGE RTR

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Retail Update e
m
2022 RETAIL SALES REVENUE
o
Autos and Transportation $611,046,884 $2,303,969,943 $505,857,967 $2,809,827,910
Building And Construction $260,170,524 g
Business And Industry $191,271,551 r
Food And Drugs $113,281,840 a
Fuel And Service Stations $285,196,304
General Consumer Goods $547,172,511 p
Restaurants And Hotels $295,307,265 Total State and Total h
Transfer And Unidentified $523,064 All Businesses County Pools Gross Receipts
i
c
s

2022 milesTones

2022 RETAIL SALES REVENUE
• Greens Group — A developer from Irvine (Greens Group) has purchased
$390,191,802
Autos and Transportation
the vacant 27 acres between Avenue I and Lancaster Boulevard near $2,297,910,603 $501,428,789 $2,799,339,392
Building And Construction
$225,633,254
Cinemark 22. The future development will bring Lancaster two new hotels
Business And Industry
$120,532,936
and more than 600 units of new housing stock, including market-rate and
Food And Drugs
$118,226,804
affordable multi-family residential options. A small retail component will
Total
Fuel And Service Stations
round out this development. $295,684,330 Total Gross Receipts
General Consumer Goods
$803,644,504
• Multi-Family Developments — Two projects at Avenue I and 20th All Businesses
Restaurants And Hotels
$343,549,363
Street West will bring over 500 multi-family apartment style homes to State and
Transfer And Unidentified
the area. One project is entirely market-rate, while the other has a small County Pools
$447,610
percentage of affordable housing units. An additional 500 multi-family
units throughout the city are in the development review process.
• Shop Local Platform — Lancaster has partnered with Bludot
Technologies, Inc., to provide an online platform and smartphone
application to support small businesses. Through Bludot’s Open Rewards
platform, consumers are able to download the app and earn rewards for shopping locally. Once enough rewards are accumulated,
they can be redeemed by patronizing other small businesses in the community. Open Rewards Shop Local app is available in the
Google Market Place and Apple App Store.
· Bridge 33 — The 375,500-square-foot shopping center at Valley
Central Way and Lancaster Boulevard has been acquired from
Merlone Geier by Bridge 33. This shopping center is currently
anchored by Super Walmart, Marshalls, Staples, Michaels, and
Burlington. With a small number of retail vacancies including the
former Cinemark Movies 12, Bridge 33 is currently exploring several
shopping center improvements and retail opportunities.
· “Stand Strong” Youth Sports Program — In December 2021, the
city council approved loans up to $20,000 for local non-profit sports
organizations. Many organizations were hurt by the impacts of the
pandemic and needed financial assistance to keep providing services
to the community’s youth. Lancaster partnered with Mission Bank for
the loan underwriting and in December 2022, the council turned the
loan into a grant. A total of five loans were issued and forgiven, which
resulted in over $90,000 going to aid youth sporting programs.
AVEDGECA.ORG | 2023 Economic Report | 17 |