Economic & Development
Lancaster is working hard to grow its economy and development. The city has brought in Austin Farmer, the Product Director at the Retail Coach, to help the city actively recruit retailers and developers for the community. Austin, an expert for state and national economic development, along with his team at The Retail Coach, has been responsible for recruiting more than six million (6,000,000.) square feet of retail space across the country.
There are three key principles, Austin says, that lead to successful economic development:
Community development precedes economic development.
Development attracts development.
Lancaster is working to grow its economy and development. The city has brought in Austin Farmer, the Product Director at the Retail Coach, to help the city actively recruit retailers and developers for the community. Farmer, an expert for state and national economic development, along with his team at The Retail Coach, has been responsible for recruiting more than six million (6,000,000) square feet of retail space across the country.
Picture taken from “Future of the City: Like Never Before| City of Lancaster” keynote.
The population of Lancaster is 175,000. When you look at the trade area on the map above, you see that Lancaster has more than 500,000 people coming in and out of the community on any given day, as indicated by the red area on the map.
Lancaster is pulling from a huge area up to the North, and even as far down as Los Angeles, which is over 60 miles away. This is a great sign for retailers looking for their next commercial space.
According to Farmer, “Having a strong downtown, a strong Main Street, and a strong business community has promoted a stable core of businesses, including Mom-and-pop stores, with a strong synergy that supports continued growth.”
Lancaster is evolving from a transit location to a permanent destination for people to stay and work, live, and play. The growth of Main Street and the influx of businesses from all over the country is taking Lancaster to a whole new level.
Picture taken from “Future of the City: Like Never Before| City of Lancaster” keynote.
As a business community grows, the economy makes room for more business, and the success of each new business attracts more businesses.
Already, the Retail Coach has brought in Chic-fil-A, Dutch Brothers, Sprouts, and Ono Hawaiian BBQ with the redevelopment of Toy “R“ Us into a multi-tenant facility.
Picture taken from “Future of the City: Like Never Before| City of Lancaster” keynote.
The development of Medical Main Street, a 300-acre inner city area composed of a town center, capitalizes on the 100 acres of vacant land surrounding the existing hospital campus. The area is being repurposed for mixed-use facilities that integrate health care alongside commercial endeavors such as health food stores, restaurants, and workout facilities.
Picture taken from “Future of the City: Like Never Before| City of Lancaster” keynote.
Above is a picture of Phase One of a multi-phase, multi-year project known as Medical Main Street, only a fraction of the total 300-acre development. This will include the medical district, the town center district, and the East Village District (a mixed-use lifestyle residential district).
Projects like the East Village are indicative of the type of neighborhoods and housing that attract people to a mid-sized city like Lancaster. The plan is to provide affordable living surrounded by community and opportunity while promoting a shared sense of place and belonging.
Lancaster’s East Village plans to use mix-use residential neighborhoods with parks, bike trails, a public market, hospitality venues, an outdoor plaza, and a mix of lifestyle amenities that is energizing the economy. Lancaster is one of the leading mid-sized cities in California, making Lancaster an incredible opportunity for investors.
The Future of Lancaster is Limitless.
The city has secured $120 million for the LA County Metro Transit Authority to receive Highway R measure funds to repair and update Avenues M, L, K, J, and G interchanges.
In addition, the city is proposing projects to improve operational capacity and mobility between the freeway and local streets.
Lancaster invested over $50 million into the rehabilitation and maintenance of their roads to help the influx of new traffic and connect new developments. The Road Bond Fund will be extended to more than 250 miles of pavement across ten different projects.
Updates to Parks and Recreation centers, irrigation, and walkways are being made to create a safer and more sustainable and walkable place for the children of Lancaster and the community.
Funds have been allocated to update the Museum of Art and History in hopes to achieve the American Alliance of Museum accreditation, making Lancaster a more attractive destination for tourism.
Lancaster has also partnered with the Antelope Valley Fair to create a multi-purpose event and evacuation center. The center is set to begin construction in 2024 and will have an emphasis on sustainability and resilience.
During the event season, the center will host sporting events and performances, and will double as an evacuation center capable of housing over 300,000 residents.
Lancaster is excited to embark in this new development, and we invite you to be a part of that journey.