Alright, so today's video is all about what's changing in the city of Temecula. So I had a chance to go to a city managers meeting just a couple of weeks ago, and I had a chance to meet with all the city managers from the local cities, Temecula, Murrieta, Menifee, Etcetera. And they laid out their plan over the next 12 months. They talked about all the cool things that are going on, all the new infrastructure, some of the new businesses that are coming in, and what we can expect to happen over the next year. So let's go ahead and get into it.

Hey guys. Hey again, my name is Justin Short. I'm a realtor and team leader with a short real estate team here at Keller Williams in Temecula. And this video is all about the city of Temecula and what is going on and what's changing here in 2025. So like I mentioned, I had a good chance to go to a city managers meeting and they laid out their plan, their vision, all the infrastructure that's coming in for the city. And this is probably my favorite event that I get to go to each year. I think there's some really cool information they go over and some things that probably 99% of the people that live here in the area don't know about. So it's kind of cool for me, obviously as a realtor, I have a lot of people that I help relocate here and I can tell 'em some cool things that are coming up that most people don't know.

So I think it's really handy for me in my career and I think it's just kind of cool to keep on top of what's going on. And I'm always surprised about how much change is coming in, all the different stuff that they have going on from the city's perspective. So I am going to be creating videos like this for each of the cities. So we'll do one, obviously this is Temecula, we'll go Murrieta, Lake Elsinore. We'll kind of lay those out over the next month or so. So stay tuned for those if those are seeds that you want to keep an eye on and get a little more information on. But if you're liking real estate videos like this, before you get into all the information, do me a favor, please hit like please hit subscribe to my channel. Obviously it helps me, it helps my channel as we try to continue to grow it.

And then if you guys have any real estate questions, you can feel free to reach out anytime. So you can see my information either at the end of the video or down below so you can feel free, you can call, you can text, you can email me. Happy to answer any questions you may have help point you in the right direction. Or of course if myself and my team can help you out with your home search, would love to help you do that. Obviously that's how we earn a living. So I would love to be a resource for you. And that's my cell phone number that's down below. So feel free to reach out, happy chat with you and hopefully point you in the right direction. Cool. Alright, so we'll get into all the info. The first thing we'll talk about is some of the latest stats that the city put out, which I think is kind of cool to look back at and reflect.

So just kind of general stats of the city of Temecula for the year 2024. So the population has increased and now up to 109,000 people that are within the city limits. That's gone up about 4% over the last decade. So not a ton, but as the area really continues to be built out, as all the new construction really finishes up and we're running out of dirt, we've seen that continue to grow and then start to slow here over the last couple of years. But from a city budget perspective, they were really proud of what they were able to put out. So they have a healthy city budget, they're in the green. What they're most proud about, and this is really unique to the city of Temecula as opposed to all the other cities here in Southwest Riverside County, but 42% of the income that the city receives is from sales tax.

And that's really not the case for most of these other cities like I've talked about in many videos. But Temecula is probably the one city nearby that has really all the business. So they have a big mall, they have a big thriving downtown old town area, they have the wineries, they have the casino, so they have all these businesses and restaurants and things where the other cities don't really have much of that. So that is kind of the one shining star for Temecula is they have those businesses and those businesses obviously sell goods and items and services. And so that generates sales tax for the city. So because that Temecula as a city makes way more money than any of the other cities where most all the other cities, all their income, almost all their income comes just from property taxes. So obviously you still have property taxes that you pay in Temecula, but they have 42% of their income comes from sales tax, which really helps them, they feel like puts 'em in a really good position to be able to reinvest to the city, make the city better, invest in public safety, etcetera.

And then what they mentioned is that 55% of their expenses as a city actually go towards public safety, which is pretty cool. I did not realize that. Obviously it is a very safe area. We'll talk about some of the stats that they're putting out right now. But city tobacco is very, very safe, but for all the money that they put into it I think is kind of cool. And then they did mention that they're in such a surplus and the city is doing so well that they are continuing to put aside 25% of their revenue in a savings account. So in their mind that just kind of keeps them protected in the future, if the economy were to change or things start to struggle, they're going to be in a really, really solvent position and be able to thrive. So they did mention that as the economy has changed over the last few years, that their sales tax revenue is down or was down in 2024 compared to 2023.

So it has gone down a little bit. They're a little concerned about that, but they say in general compared to the rest of the state, they're doing really, really good. And then the average household income now for someone that lives in Temecula has gone up quite a bit. So the average household income is now up to $142,000, which I guess you have to have as home prices have gone up so much, interest rates are still high, you got to be able to afford to live here. So that's now the average household income for a homeowner in Temecula. And then they did brag a little bit about the school district. So I think most people know that the Temecula Valley School district is super highly rated. They are currently in the top 20% here in the state of California. Alright, so the next thing that they talked about was all the cool stuff that they have that's coming soon to the city.

So probably their main point and the biggest takeaways that I had were all the hotels that are coming. So this has been a big pain point here locally for me personally just because of my business and then just for any friends or family that we have that are coming to town. So if they're not going to stay with us, it is super inconvenient for people when they come here because there's not a lot of very good hotel options. Really the best option for most people is going to be like the Patonga Casino, which has its own drawbacks because you're in a big casino. Some people don't like that idea, they don't want to gamble or be around alcohol or whatever it is. And there are many hotels, but there's not very many nice ones. They're kind of older like inns, kind of mill motel sixes, just not like the highest quality hotels in the world.

And especially over the last decade or so, as the city has grown so much and it's so much more of a tourist destination now, so many people come to the city for weddings out in wine country. They go to visit wine country, they go for bachelorette parties out in wine country. They come check out the old town area. It's so much more of a venue here, but they don't really have a ton of great places for people to stay. And Airbnbs are outlawed in the city of Temecula as well. So there's not a lot of great options. So they do have some pretty cool hotels that are currently in the works. There is a couple that are in Old Town, so I talked about one that's an old town, it's 108 room hotel, so it's a little more of a boutique. It's off fourth Street in hotel or in Old Town, but that is currently, it's approved and it's ready for construction.

And then what's kind of cool with that is they're tying in a commercial restaurant area as well with some extra parking. So if you know anything about Old Town Temecula, the parking situation is tough to say the least, right? It can definitely drive around for a long time looking for parking. Usually we end up Ubering there because parking is so crummy. So that'll give, it's a small kind of boutique hotel with some parking and some commercial and restaurants in there space. There's another one. So second hotel in Old Town, Temecula just south of Old Town on Front Street. It's another boutique one, only about 50 rooms, but also has retail space, has a rooftop restaurant, rooftop pool, so definitely a little bit more of a higher end type of boutique place, which is cool. They have a third hotel that is coming to Temecula, they call uptown Temecula, which is kind of like on the northern northwest portion of the city just to the west of the freeway.

If you're looking on the map right on the border of Teec and Marietta. It's actually right where my office is, right where I am right now, which for me I think is kind of an odd place to place a hotel, but it's kind of more of a commercial area, but it's an ever home suite. It'll be 117 suites that are currently under construction, so I'm sure that'll be a little more affordable as opposed to the other ones that are probably a little more trendy. And then the last one, the fourth one they mentioned is probably the nicest, definitely the biggest, but another one that's in Old Town, it's going to be a huge luxury hotel. It's 350 rooms, seven stories, have a ballroom, will have a restaurant, we'll have a pool spa, I guess day spa and supposed to be this big huge extravagant thing.

And that is supposedly it's been approved and we'll be starting construction soon. So that'll be a big thing in Old Town I'm sure be quite the mess for the construction there, but I'm sure that'll be a big thing for all the tourists and stuff and be a pretty cool place to check out. Besides hotels, they did talk about a few other things. There is, and I've mentioned it before in years past, but kind of a big project for the city is this big huge 17 mile loop. It's a track loop around the city where you're supposed to be able to start in one section and make a big 17 mile loop where you can bike around the city all in one consecutive path, all on protected bike lanes and bike paths. So they are not quite finished with it, but it is near the end and almost near completion.

They're working on the last 80% now of the path. It's a big thing for the city and something they're really pitching as an active community and trying to be as a drop point. So they are working towards completion and getting closer and closer is what they said. And there's some other cool projects that they have going on. So there's four new pump tracks that the city's putting in. There's a new skate park that they are putting in. There's also old, an old hockey rink that is, it's not ice hockey, so street hockey rink that is currently being redone. They just started construction and that's being redone off Margarita, I think it's by the Mike Nagger park there. And so they're redoing that. They also just opened up a new pickleball complex. So there's 17 pickleball courts at, I believe he's at Ronald Reagan Park that have lights that'll be open until 10:00 PM So those will be there.

Those are free, just first come, first serve. And then there's a new splash pad that they're redoing at the Ronald J. Parks community rec center. So definitely some cool things that the city's putting into place. Obviously the hotels are all private businesses, but the city is spending some money on some of these different parks and pickleball courts and stuff, which is kind of cool. And plus pickleball is super popular right now, so kind of cool to have 17 new courts there as well. The next thing they talked about was a few new restaurants that are coming to town. So a lot of times this is like a section, they'll talk about maybe some new shopping centers that are being built, et cetera. Currently that nothing that's really in the works that they had highlighted, but they did mention there's a pretty big new restaurant that's going.