In the midst of a massive construction project, the downtown
area shows promise to some
Gilroy – Shoppers may be avoiding construction cranes and dump trucks along downtown Monterey Street, but the area is far from an eye sore for businesses looking to invest in the future.
Two banks already have plans to move in coming months to opposite corners of the historic main drag, and a number of restaurants have inquired about moving to the area, said Larry Mickartz, president of the Downtown Business Association.
“In general, people are looking ahead and they see the potential of downtown and there are a number of folks looking for space,” he said. “Right now, more people are looking than we have space for.”
Mickartz wouldn’t provide names, but said a bistro-type restaurant has nearly finalized plans to move to the area, and a businessman looking to open a tapas restaurant is also in talks with a landlord.
Monterey Street is now in the midst of a year-long street and sidewalk renovation along a two-block stretch, between Fourth and Sixth streets. The construction project represents the last phase of a facelift to the city’s historic commercial district, the once-bustling heart of old Gilroy that has seen more business closings than openings in recent years with the rise of the outlets and big box stores.
City officials eager to revitalize the area have approved a 200-unit housing project just east of Monterey Street, at the site of the old cannery, and have plans to build a new cultural arts center a few blocks south at the corner of Monterey and Seventh streets. They also have approved a string of smaller “mixed-use projects” along Monterey Street that combine above-ground homes with street-level stores and office space.
Heritage Bank of Commerce was among the first to bet on the revitalization. This October, the bank plans to close its office on First Street and re-open in a new building on the corner of Lewis and Monterey streets.
“We’ve been looking at moving downtown for well over a year, and we felt that downtown was the place to be,” said branch manager Bruce Williams. “We’re putting our money where our mouth is because it’s kind of expensive to move there. We really have confidence in the downtown. If we didn’t, we wouldn’t be moving down there.”
Downtown construction is currently two months or more behind schedule. City officials, who originally hoped to complete the project by October, are now negotiating a new timeline with the contractor. They hope to complete construction by Thanksgiving.
