Home | Opinion | Businessmen taking a risk for all of us

Businessmen taking a risk for all of us

Font size:

Editorial Jul 25 08:34am

“A free press is not a privilege but an organic necessity in a great society.” —Walter Lippmann

Editorial

While the national and state economies continue to limp along, there’s been a remarkable burst of entrepreneurial activity in Nevada City.

The Historical District in downtown Nevada City boasts several new businesses and there’s at least two sites being renovated that could reel in another three or four storefronts. Community theater seems to be flourishing as productions are happening in Nevada City, Grass Valley and the San Juan Ridge.

The news got even better this week when we learned that Ken Baker and Gary Tintle purchased the Alpha Building, the largest retail space in downtown Nevada City.

In this case, the Nevada City men are making a significant investment in our community and making it easier for Chris Kysar to bring his California Organics store to the 30,000-square-foot building on Broad Street.

The Nevada City men made this purchase knowing that Kysar is still months away from being able to move into what would be the anchor of the downtown. While some may downplay the significance of two successful businessmen buying property on a choice lot in Nevada City, it’s hard not to appreciate what they are doing.

The building has been vacant since Broad Street Furnishings went out of business in April 2008. For a business with that much square footage, it doesn’t have much parking. In addition, the building clearly needs work. On top of that, it’s extraordinarily difficult to secure financing for big retail projects.

Kysar knows this first-hand. He’s been working for more than a year to get the necessary financing to move downtown and at one time hoped to buy the Alpha Building. Now, he’s looking forward to being a tenant although he still has much to do to make his dream become a reality.

The economy seems as solid as a California fault line these days, which makes it difficult to determine the degree of risk in any business deal. The mismanagement of state government and the mounting deficit only serve to complicate an already murky situation.

Baker and Tintle didn’t have to buy the Alpha Building. Yet they choose to get even more involved in the community at a time when it is needed. They deserve our thanks for taking this risk. Let’s hope it pays off for everyone.