Landowners along San Jose's historic The Alameda corridor to invest in neighborhood

SAN JOSE, Calif. (KGO) -- Dozens of small businesses owners along The Alameda, a historic corridor in San Jose, believe in building a brighter future.

Jo Lopez founded Luna Mexican Kitchen with her husband in 2017.

"The Alameda was named 'The Beautiful Way' but it was the original El Camino so it was where people traveled from missions," Lopez said.

On Thursday, Lopez joined city leaders and other small business owners in front of Hop & Vine. They celebrated the formation of what's called The Alameda Community Benefit Improvement District.

Mayor Matt Mahan called it a landmark moment.

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"It's the first property-based improvement district formed in the city in more than 15 years," Mahan said.

The district runs along several blocks of The Alameda from Stockton Avenue to Race Street.

More than 400 property owners will dedicate $327,000 a year for the next 15 years to the area.

The money will go toward improvements like cleaner streets, public safety, and beautification - services beyond what the city provides.

"We're hoping new businesses and restaurants will be like you know what- that's vibrant I want to come to The Alameda, I want to start my business, to start my story, start my legacy and I think that's exciting," Lopez said.

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Edward Saum is on the Board for the Alameda Business Association. The process took two years.

"What really got it started is that the mayor's office saw that business corridors and the business associations getting those revived post pandemic is the single best way to get return on investment," Saum said.

Local wine bar Hop & Vine is within the walls of a 100-year-old building.

ABC7 News spoke with Jim Delyea, Manager of Hop & Vine who encourages people to dine local, shop local.

"It's tough for those of us you know sticking it out and it's nice to see this investment in the business community," Delyea said.

This becomes San Jose's third property-based improvement district, following those in downtown and willow glen.