 February Forecast: Embracing Change and Growth Ahead! Here’s the TL;DR of this month's issue:
Spring 2024 brings the 2nd Annual Fremont Restaurant Week – we’ve partnered with the Fremont Chamber, Sysco and Yelp East Bay to bring you special offers at over 40 restaurants serving up flavors as unique as our city. Be sure to subscribe to our newsletter to stay updated with participating restaurants and exclusive deals.
 
The City of Fremont Economic Development team had the opportunity to tour Supernal’s new R&D Facility in Fremont. Supernal, a dynamic arm of the Hyundai Motor Group, is a pioneering Advanced Air Mobility company dedicated to crafting an electric vertical take-off and landing (eVTOL) vehicle along with a comprehensive ground-to-air ecosystem, leveraging Hyundai's unparalleled expertise in manufacturing, automation, supply chain, and R&D to strategically shape the future of efficient and accessible transportation. Supernal selected Fremont due to its proximity to Silicon Valley’s renowned tech ecosystem. Supernal’s R&D facility in Fremont is emblematic of a shift in corporate workplace design, prioritizing functionality, choice and a sense of belonging. The facility’s diverse workspaces have been strategically planned to accommodate the preferences of current and future workforces, offering various work and interaction options.
In December, Gotion's US Headquarters officially opened in Fremont, marking a significant addition to the city's growing cleantech ecosystem. Gotion specializes in providing dependable energy storage solutions, offering reliable battery systems for both residential and commercial users. This expansion underscores the ongoing commitment and investment in the clean energy sector within Fremont, showcasing the city as a hub for companies driving the transition towards sustainable energy solutions
The Silicon Valley Business Journal hosted a Silicon Valley Mayor’s Economic Forecast event on February 1 featuring a local mayor panel. Fremont's proactive planning for economic cycles, capturing development during market strength, and ensuring fiscal sustainability with policies prioritizing reserves and responsible spending were highlighted. Fremont’s Downtown was also discussed as the city has made significant progress, with multiple mixed-use projects and new establishments on Capitol Avenue, including the nearing completion of the Catalyst/Gateway project. The discussion also touched on the need for regional collaboration in economic development, emphasizing the region's strengths, and addressed labor issues, workforce development, and efficient permitting processes, including adopting electronic plan check and permitting processes during the COVID-19 pandemic.
Prologis, the world's leading industrial real estate investment group with a significant presence in Fremont's advanced corridors, has unveiled their seven supply chain forecasts for 2024. Drawing from decades of industry expertise, proprietary data, and unparalleled insights into both properties and customers, these predictions offer valuable insights into the future of supply chain dynamics.
7 Supply Chain Predictions for 2024:
- The global freight recession is set to rebound, evident in the double-digit growth of port and truck traffic.
- Conversely, the construction industry will face further downturns, with global starts plummeting to levels not seen since the 2008 financial crisis.
- Latin America's rental market will experience robust growth, outpacing the global average, driven partly by nearshoring trends.
- China's annual demand is poised to reach its second-highest level on record, aiding in the absorption of excess supply accumulated over recent years.
- Technological advancements, particularly in artificial intelligence, will increase energy demands in logistics facilities, prompting warehouse owners to double their solar capacity.
- Anticipated interest rate decreases will lead to a doubling of private equity real estate funding in 2024, reflecting an optimistic outlook on interest rate cuts.
- Cap rate trends will reverse, with compression expected in U.S. and European markets while expansion shifts towards Asia.
Fremont is home to several companies accelerating electric vehicle (EV) adoption through clean energy technology and has long been a leader in EVs. Now, there's even more data to prove it! Ava Community Energy (Ava), Fremont's power provider, recently listed Fremont among the top ZIP codes in California with the highest market share of EVs. Most notably, Ava found that Fremont had the third highest market share of registered battery-electric vehicles (BEVs) in Alameda and San Joaquin Counties in 2022, and the 94539 zip code boasts the highest number of EVs per household, with nearly one in three households owning an EV. Way to go, Fremont! Let's continue "charging" forward to help create a climate ready Fremont.
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We are delighted to announce the soft/grand openings of two fantastic restaurants in some of our bustling commercial districts in Fremont! Honest Restaurant, an internationally acclaimed eatery originating from Ahmedabad, India, celebrated for its delectable "Indian street food"-inspired dishes, is now serving in Downtown Fremont on Capitol Avenue. Additionally, Taverna Vesuvio Pizzeria & Ristorante, offering an authentic Italian dining experience, has recently opened its doors in Mission San Jose along Mission Blvd. Exciting leasing activities are ongoing in Fremont, and we eagerly anticipate the arrival of new small businesses, contributing to the vibrant atmosphere of our city.
We're thrilled to announce that our Fremont Downtown Event Center has earned the esteemed 2023 American Architecture Award from The Chicago Athenaeum Museum for Architecture and Design!
These awards spotlight excellence in architecture and urbanism across the nation, recognizing groundbreaking designs that epitomize contemporary design thinking. Fremont's steadfast commitment to sustainable practices and green initiatives shines through as the Downtown Event Center clinches this prestigious honor in the mixed-use building category.
Nestled in the heart of Downtown district, this remarkable project has evolved into a bustling social nexus for our community!
Exciting news from our thriving engineering/makers community in Fremont! We're thrilled to announce that in collaboration with Fremont Unified School Districts, Irvington Highschool and local partners to present an Engineering Expo at the Downtown Convention Center on April 11, 2024, from 5:00 PM to 7:30 PM.
This event will showcase student-engineered technology projects, accompanied by a delightful array of local culinary treats. Additionally, it will highlight the talents of Fremont-based craft makers, including numerous home-based businesses. Joining in the festivities will be representatives from Fremont's advanced manufacturing companies.
Stay tuned for further details as we prepare for an evening celebrating innovation, creativity, and collaboration!
 
The Fremont Unified School District was one of three school districts who secured a $2.9 million grant from the California Energy Commission. This grant will fund the installation of 12 bidirectional chargers for electric buses, marking a significant stride towards sustainability and reducing power outage risks. The project, led by The Mobility House termed Replicable V2X Deployment For Schools (RVXDS), will utilize school bus fleets to mitigate regional grid emergencies - especially during peak summertime windows.
StopWaste is offering grants with a total of $1.1 million available in funding for projects in six categories. The focus is on innovative approaches to preventing waste in Alameda County and supporting local communities.
- Food Waste Prevention & Recovery (up to $20,000 per grant)
- Surplus Food Donation Equipment (nonprofits only, up to $10,000 per grant)
- Community Food Systems (up to $10,000 per grant)
- Reusable Foodware ($5,000 to $50,000 per grant)
- Reuse & Repair (up to $20,000 per grant)
- Reusable Transport Packaging (up to $10,000 per grant)
Businesses, nonprofits, and institutions are eligible for funding, unless noted otherwise. For details visit www.StopWaste.org/Grants. Application deadline is March 3, 2023.
In 2023, the City Council's priorities, including financial health, homelessness, public safety, and commercial corridor revitalization. These priorities were addressed in the 2023 Year-End Progress Report, demonstrating dedicated progress in long-term initiatives. Noteworthy achievements included the launch of Fremont's inaugural Restaurant Week, a successful endeavor that supported over 40 local restaurants during typically slow periods, generating significant online engagement and attracting new customers. Additionally, the multi-year renovation of the historic Centerville Theater marked a successful accomplishment, incorporating extensive site improvements for diverse commercial uses, including a basketball league space in the short term and an envisioned public market and food hall in the long term.
The city's commitment to small businesses was evident through initiatives such as the Shop Small Fremont marketing campaign, which highlighted local businesses through a monthly video series on social media channels. Efforts in Downtown were particularly impactful, with a development pipeline of eight multifamily, commercial, and mixed-use projects, as well as the pending sale of the Wells Fargo property for future redevelopment. Notably, collaboration with major Downtown property owner Kimco led to the approval of redevelopment projects at the Fremont Hub and Gateway Plaza shopping centers, promising to add 520 new rental units and foster a transition to mixed-use spaces. The city also actively supported new businesses in Downtown Fremont, with various openings on Capitol Avenue by the end of 2023, contributing to the economic vibrancy and attractiveness of the area.
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Honest Restaurant
Honest Restaurant is now officially open in Downtown Fremont!
3658 Capitol Ave, Suite M, Fremont, CA 94538
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