Looking Back, Looking Ahead

With 2024 underway, we can look back over 2023 to tally the final numbers and note the progress made in economic growth.

On the single-family residential side, 2023 brought a total of 335 permits issued, the lowest count since 2012. Attributable to higher interest rates and part of a nationwide trend, Visalia continues to flourish as a growth opportunity in California. With many annexations and subdivision maps again moving forward with the adoption of the Ag Mitigation Program, single-family activity looks to pick back up in 2024. Along with it is the forecast of numerous, new multi-family or single/multi-family mixed residential site plans that have cleared Site Plan Review. 

On the commercial front, 2023 brought 51 new commercial permits issued, equating to over 1.96 million square feet. This marked the fifth straight year of over one million square feet of new commercial space. While the bulk of the square footage comes via new industrial development, this new commercial activity has been widespread with new retail leading the way. Similarly, commercial alteration and addition activity saw a busy year with 280 permits issued.

Commercial permit activity of note this year includes CapRock’s 3rd building, which will initiate industrial development activity west of Plaza Drive, G4 Enterprises moving forward with their 310,000 square foot spec industrial space, numerous local industrial expansions, redevelopment of the Sequoia Mall, buildout of new retail at Visalia Parkway and Mooney, Family HealthCare Network expansion downtown and a new TownePlace Suites by Marriott, near Adventure Park.  

As 2024 rolls on, it’s expected to bring continued buildout of major shopping centers across town, additional industrial growth in the Industrial Park, additions downtown with professional facilities, dining, and entertainment and, hopefully, new permitting activity for other commercial areas across the city.

For more information on City of Visalia, visit www.visalia.city or visit them on Facebook, Twitter, Instagram, and LinkedIn @CityofVisalia.