For Economic Development Committee March 27, 2025
TO: Honorable Economic Development Committee Members
APPROVAL: Colby Cataldi, Director of Community Development
FROM: Paul Guerrero, Economic Development Manager
Title
Economic Development Updates
Body
BACKGROUND
The Economic Development Division continues to implement strategic initiatives to attract, retain, and expand commercial enterprises in the City of Rialto. The report provides updates on projects and programs including:
1. Commercial / Residential horizontal mixed-use project at southeast corner of San Bernardino Ave. and Riverside Ave. (major tenant - Northgate Market)
a. Current Developer Chris Costanzo of Costanzo Investments
b. Current authorized Commercial Real Estate Broker Erik Westedt, Managing Director at Jones Lang LaSalle (JLL)
2. Industrial Building Inventory - Occupancy Rates
3. Rialto Restaurant Listing
4. Business Resource Guide
5. International Conference of Shopping Centers (ICSC) - May 2025
ANALYSIS/DISCUSSION
Southeast corner of San Bernardino Ave. and Riverside Ave. Mixed-use Project
The development of the vacant parcel at the southeast corner of Riverside and San Bernardino Avenue is currently under negotiation with the US Fish and Wildlife Service regarding the Delhi Sands Fly habitat conservation area. The proposed commercial major tenant is Northgate Market with additional ancillary commercial uses. The easterly portion of the property is planned for 46 single family homes.
Industrial Building Inventory
As of February 2025, there are 95 completed industrial buildings, ranging in size from approximately 24,000 and up to 1.8 million square feet, within the City of Rialto. An additional 26 industrial buildings are in various stages of entitlement or construction. These buildings range from approximately 42,000 and up to 470,000 square feet. Staff observed that 84 are occupied and 11 are vacant. At least 3 of the 11 vacant buildings are in the process of being occupied and are either constructing tenant improvements or are in the plan check process for tenant improvements.
Rialto Restaurant Listing
City staff has compiled a listing of all the Mexican restaurant in the City, there is a total of 47 restaurants.
Business Resource Guide
The Economic Development Division has developed a Business Resource Guide to provide businesses with information on available programs, incentives, grants, loans, and support services. This guide is intended to be a living document that will be regularly updated to ensure businesses have access to the latest resources. Staff will continue researching and collaborating with external organizations to enhance the guide’s value.
International Conference of Shopping Centers (ICSC) May 18-21
The City has reserved a booth space for the upcoming ICSC conference and is currently finalizing a vendor for the booth design. Marketing material are being developed, and the Rialto Network Department is updating the City’s promotional video to showcase the City and economic opportunities
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