Downtown investment tops $1 billion since 1996

Investment in the greater downtown area over the past 17 years has reached $1 billion, bringing hundreds of hotel rooms, dozens of restaurants, wine tasting rooms and retail shops and thousands of square feet of new commercial space to the city center.

This total, reflecting business activity from 1996 to 2013, was announced in a downtown business update report released at the City Council meeting Tuesday.

The $1 billion figure includes disclosed real estate transactions valued at $515 million and private investment of $419 million, including new construction of $342 million.

Its a testament to people having confidence about where Napa is going, said Robin Klingbeil, project coordinator with the citys Economic Development Division.

Major projects built during the past 17 years include flood control improvements, Napa Mill, the Oxbow Public Market, Riverfront and the hotel and restaurants on the west end of First Street.

Mayor Jill Techel cited the $1 billion total as evidence of the worth of Napas flood control projects. Its really effective when I can bring that data to Washington to show the effects of flood protection, she said.

Councilmember Alfredo Pedroza also applauded the figure. I know sometimes theres a fear of change, but well look back one day say, We were right to encourage such investment, he said.

Councilmember Peter Mott commented on the profusion of wine bars. Do we get to the point where we have too many wine bars? he asked. With anything, you can have too much of a good thing.

Weve looked at that, but weve not discussed any type of restrictions. Were looking to fill empty spaces, said Klingbeil.

Studying the years after 1996 is a good baseline because it predates flood control on the Napa River, said Councilmember Juliana Inman. Such analysis also encourages more restoration to overcome past urban renewal botches, she noted.

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Downtown investment tops $1 billion since 1996