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Downtown Walnut Creek Experiencing Economic Boom

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(CBS)

(CBS)

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WALNUT CREEK (CBS SF) – It’s not all bad economic news in the Bay Area as downtown Walnut Creek is seeing a resurgence in business.

Walnut Creek Economic Development Director Ron Gerber said one of the most tell-tale signs is the fact there are little, if any “For Lease” signs in the area.

“I think we have a nice problem with almost a 98 percent occupancy,” said Gerber. “We have folks circling and looking for locations.”

KCBS’ Dave Padilla Reports:

Gerber said that several new stores, shops and restaurants have opened, attracting bigger crowds to the downtown area.

Macy’s, Nordstrom and a soon-to-open Neiman Marcus are expected to be the three big retail anchors. Walnut Creek Chamber of Commerce President Jay Hoyer said the city has come through the recession relatively unscathed..

“Walnut Creek has gone through a difficult time over the last few years,” said Hoyer. “But difficult relative to other communities, we’re pretty fortunate and pretty blessed.”

Hoyer said that it is not uncommon to have busloads of shoppers from the Central Valley dropped off at Broadway Plaza at this time of the year.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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