Rio Nuevo Approves Tightened 2021 Budget

Source: Rio Nuevo  Facing a substantial reduction in next year’s revenue due to COVID-19, the Rio Nuevo Board approved a break-even budget reflecting an estimated $6M reduction in annual state tax revenue. The District has been dramatically impacted by COVID-19 related business closures and the subsequent economic slowdown.   The District ended the year with a little over $6M cash on hand and has elected to hold those funds as a […]

Rio Nuevo Approves Bautista Investment

Source: Rio Nuevo The Rio Nuevo Board unanimously approved an investment in one of the biggest projects in the history of the District. The Bautista, a $72.5M, mixed-use development near West Cushing Street and South Linda Avenue, will include 16.5KSF of retail space, 253 residential units and a restaurant. The central plaza of the development […]

Rio Nuevo Hears Plans for Riverfront Project

Source: Rio Nuevo Adam Weinstein, president and CEO of The Gadsden Company, asked the Rio Nuevo Board to help finance The Bautista, a $72M, mixed-use project on the West Side. When completed, the Bautista will sit along what will soon be a year-round flowing section of the Santa Cruz River. This mid-rise project, near West […]