Wine Country’s Impact on the Valley
Filed under: Temecula
The wine country region of Temecula is booming in recent years. In 2018, it was reported that nearly $1 billion of revenue passed through the local Temecula wineries. That’s billion, with a “B”! Regional development plans call for at least one-hundred wineries to be established in the area. We are just over 50 now.
So, the long-term vision is to try and compete with areas like Napa, for example. Obviously, they have a huge head start on us, but that doesn’t change the vision of our lawmakers and city council members here in our local valley.
Benefits of Winery Growth
Some of the obvious benefits of promoting the growth of wineries in the area are that it brings tourism and revenue into the city. By encouraging more visitors, more businesses can be established, which will provide more jobs and help to stabilize our local economy even further.
In the end, this should have a positive effect on the overall economy, including home valuation. Especially those homes in and around the wine country itself. People are interested in surrounding themselves in beautiful places, and wineries provide just that.
Building More Hotels
Another interesting aspect of this whole thing is that the city of Temecula is really focused on getting hotel developers to build more properties in the area. The city council has really shied away from working with short term rentals that encourage owners to open up their residential properties for public use as overnight lodging or extended stays.
As of this writing, that is not the direction that the city wants development to go. This fits into the city’s long-term strategy of encouraging development companies to come into the city and build out hotels in wine country.
Info About Temecula Real Estate
Temecula Valley is home to so many of us, and we are excited about its future prospects. If you’re interested in talking with a pro about housing, investment property, mortgages, or real estate in general, don’t hesitate to call me. I enjoy the topic as much as an engaging conversation with people like yourself. You can contact me via phone or text at (951) 473-0390 or by email: [email protected].