As I walked down Main Street, in Alhambra, I could not help but admire the immense change that has happened and the ultimate changes coming to the community. At the intersection of Garfield and Main street there was once standing a Mervyns, Black Angus, Cha for Tea and other retail stores. In 2008, when the economy had tumbled to its knees, it became a blighted area. Until November 2014, when the retail spaces were demolished and a new plan was laid out for the intersection. This plan is a $130 million dollar project which includes 140,000 square feet of retail space, 260 luxury apartment homes, and a five-story parking structure. Sprouts supermarket has already claimed a spot in the location along with The Habit. This kind of development will most likely target young professionals and an affluent clientele. It’s main purpose is to ultimately create a popular robust downtown Alhambra.
Today, driving or walking on Main street you are bound to see beautiful exotic cars that range from Audi, BMW, Mercedes, Maserati, Lamborghini, Ferrari etc. My best friend and I are car enthusiasts and enjoy a cup of coffee on Main street every so often. We debate about our dream cars while they drive by us. Not only are there great automobiles in the area but there are also great restaurants and bars already there: The Boiling Crab, Rabbit Hole, 28 West, Korean BBQ and much more. An Edwards cinema is also around the corner of the intersection that has statues, art pieces and dessert diners in the front. I can’t wait to see how much more popular this revitalized Alhambra intersection will become and its affect on the surrounding housing market.
If you take a look at a statistical graph for the Alhambra housing market then you would find that housing prices have gone up considerably as well as the number of sold homes. Will we continue to see this trend continue along with the new development? Only time will tell but I believe there will be job growth, housing price increases, better business and above all more diversity. Taking a stroll through Alhambra, with this knowledge, I can not help but be very optimistic and excited for what is in store.
Want to find a home in Alhambra? Call us at Pasadena View Real Estate Team directly at 626-629-8439.