Tyco General Inc. BLOG

Lots of excitement around TYCO as we review and consult on potential projects for Downtown Fresno.

Both new construction and re-purposed buildings are being talked about by various developers both local and out of the area as everyone investigates using Federal and/or State funds in Public/Private partnerships to make projects possible.

We will attach as many proposed project renderings as we’re able and update often, so please (follow) check back.

Mixed use housing on Fulton - off street parking

Residential LEED Project on Lowell

By Richard Deaver

Let’s face it; there is a lot of uncertainty in our economy right now. Unprecedented layoffs, business closures, foreclosures and both personal and business bankruptcies have made everyone fearful of what the future holds.

But this is not news to anyone.

Commercial real estate has not been left unscathed by all the economic carnage – especially retail. On a national level, retailers closed an estimated 6,000 stores in 2008 alone with more than double that amount anticipated by the end of 2009. Locally, we’ve seen a number of storefronts go dark, both large and small. Gottschalk’s closure had the potential to severely exacerbate the situation, but since they had premium locations, there was plenty of demand to minimize the impact of adding to the vacant inventory.

The blow from jobs lost by the closure of Gottschalks was also lessened when Macy’s hired a number of former employees for the River Park store and Forever 21 should be adding soon to that number at the Fashion Fair location, but those who have not found jobs potentially can increase the number of new foreclosures and personal bankruptcies still to come. This will only add to the drop in retail sales forcing more local businesses to close, thereby causing vacancy rates to climb continuing a vicious cycle.

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TYCO introduces a new market focus with the unveiling of its Urban Dynamics division.

Headed up by Richard Deaver, Urban Dynamics turns its attention to infill projects and retrofits of existing older buildings in our urban core.  Revitalizing our City Center has been a passion of Richards since the late 70’s.

TYCO is currently developing many of these projects in blighted areas, badly in need of a bigger vision for its future.

I will blog in more detail as projects are funded and/or photos are available for release.  See draft post card above for areas of focus.

By Richard Deaver

Rowell Building - Fresno

Cities both large and small are reevaluating how they manage growth to not only preserve natural resources, but also keep their downtowns alive. Many have already been successful in bringing about change in the way they plan for inevitable growth and bringing residents and retail stores back to their downtowns and others are still in the planning or implementation stages.

Fresno has been looking at this problem for a number of years and has tried more than once to alter the way we continue to grow away from the urban core. As Fresno’s population increases, so does the need for affordable housing as developers continue to expand the city’s boundaries to keep up with demand – some say at the cost of valuable agricultural land. A recent Wall Street Journal article (August 15, 2009) provides information on a troubling trend that underscores this problem, which states; “Of new housing today, 80% is built in suburbs – the direct legacy of federal policy that favored outlying areas rather than the rehabilitation of city centers”.

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By Richard Deaver

If you’ve heard about The Fultonia project either through the local news media or by following this blog, you’re probably familiar with the term, “SoTow”, and may have wondered what it means and why it is so significant to the Tower District and to Central Fresno. Basically, the term SoTow, (South of Tower) was created to help establish a new identity for the Tower District neighborhood south of Olive Avenue.

The FULTONIA - Live/Work Village @ SOTOW rendering

The term was first conceived when I was contacted by property owner Terance Frazier with TFS Investments, LLC to look at The Fultonia; a 39-unit apartment complex with 10 commercial spaces in front that he had just purchased. As I walked through the complex I saw a unique opportunity to bring a once-proud property with great architectural bones and a neighborhood that was suffering from years of neglect back to life.

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By Richard Deaver

THE FULTONIA Live/Work Village Project Overview

Housing is an essential component to the success of The Fultonia Live/Work Village development. This project has been designed to help alleviate the shortage of moderately priced housing in Central Fresno by adding 39 rental apartments and 10-commercial spaces.

Many hard-working families and individuals in Fresno cannot afford to rent a high quality home or must pay a substantial proportion of their income each month for housing. There is also a need for quality live/work units for professionals and entrepreneurs seeking to lessen their impact on the environment by combining quality commercial space coupled with living space to minimize travel to and from their work. Continue reading