BUSINESS HOME; INDUSTRIAL CENTER KICKS OFF WITH $1 MILLION BUILDING.Byline: Jim Skeen Staff Writer Calling it a sign that the economy is rebounding, Lancaster officials joined with a developer Tuesday to tout Tout To promote a security in order to attract buyers. tout To foster interest in a particular company or security. For example, a broker might tout a security to a client in the hope that the client will purchase the security. the construction of a $1 million building to launch the North Valley Industrial Center. City officials joined with S&I Associates to announce plans for a 16,280-square-foot facility, described as Lancaster's first industrial building built on speculation. The building, expected to be completed in mid-December, does not have a tenant yet, but officials said it is attracting interest. ``In the next three to four years we plan to have another 15 buildings and have somewhere in the neighborhood of 350 jobs,'' said Dave Klock, project manager for S&I. The first building is being built by Dr. Harold Gamble, who purchased the land from developer S&I. The building is the first to address what has been deemed a major shortcoming short·com·ing n. A deficiency; a flaw. shortcoming Noun a fault or weakness Noun 1. in economic development in the Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley : the lack of readily available buildings for businesses seeking to relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. to the region. Last October, a $195,000 consultant's report commissioned by Lancaster and Palmdale encouraged the region to provide such buildings as part of an economic game plan for the region. The building is expect to spur interest in spec buildings from other developers. ``This is the first tangible sign that the economy is going in the right direction,'' said Lancaster City Manager Jim Gilley. ``Investor confidence is here.'' The 52-acre industrial park - located between Sierra Highway Sierra Highway is a road in Southern California, United States. It runs from Tunnel Station near the north limit of the City of Los Angeles, where it intersects with San Fernando Road and Foothill Boulevard, as well as Interstate 5, and continues north to Mojave, mostly paralleling and Division Street and Avenues I and H - has been in the works for several years. In 1993, an assessment district was created to raise $6.4 million to pay for storm drains storm drain n. 1. A storm sewer. 2. A catch basin. , sewers and streets for the industrial park. In 1997, two actions took place to improve the marketability Marketability A negotiable security is said to have good marketability if there is an active secondary market in which it can easily be resold. marketability The ease with which an investment may be bought and sold in the secondary market. of the area: The opening in April of the $7.9 million Avenue H overpass, which provides direct access into the area, and the subdivision of the property in November. Interest in building spec buildings is increasing in other areas. Lancaster is nearing completion of a deal with a Pacoima developer for 2.3 acres in the city's business park. The developer is looking to construct a spec building of 35,000 to 40,000 square feet. ``The bottom line is we don't have a place to put people in,'' said Vern Lawson Jr., who markets the city's business park. ``The more product we can have, the better off we will be.'' CAPTION(S): Photo Photo: (Color) Lancaster Mayor Frank Roberts Frank Roberts may refer to:
Jeff Goldwater/Staff Photographer |
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