Development Keeps Going Despite Economy
it comes to business growth these days. and there are stores and projects around the valley that are making the most with the rough economy. news channel 3’s jason sloss is with our live mobile newsroom in cathedral city — where one business is celebrating an expansion. jason? we’re here on east palm canyon — in front of “flooring innovations” — this is a new location.. a grand opening tonight — even though they actually opened back in august. this store is an example of one place that’s thriving — despite a shaky economy. bill nicholson is celebrating 6 years of doing business in the desert with a brand new 20- thousand square foot store. 1:44:24.. we doubled our space for half the money. so it was a no-brainer. nicholson says he got a great deal because of the tanking economy. 1:41:31.. the value of commercial real estate has gone down so much, we were able to purchase this building for half of what my rent was in my previous location. he says with the extra space and money — he’s been able to create a few extra jobs. he says he’s cautious, but confident — with strong sales.. thanks in part, to the housing market. 1:43:08.. i think with the number of foreclosures, people are getting good deals. so they’re re-flooring, re-tiling houses which is very good for us. speaking of foreclosures.. it’s created new opportunities for new-home construction in indio. phase 2 has just been completed at whittier ranch — a development that will include 137 homes. 3:07:04.. this project, we purchased it because it was a foreclosed project. and we purchased it right. otherwise, we couldn’t build. but they are building — and that also means putting more people to work. 3:06:06.. we see the opportunity. perhaps the jobs we help create by building this phase and subsequent phases will be a little to help the domino effect of helping the economy in the coachella valley and beyond. obviously one businessperson’ s bad luck can turn into another’s opportunity. live in cathedral city.. jason sloss.. news channel 3, hd. blue
