Business in Redding, CA

Is there any project that's generated so much anticipation while spurring more conspiracy theories than Trader Joe's?

There's enough material here for an Oliver Stone movie.

Of course, Trader Joe's doesn't help by being so reluctant to elaborate every time we report a delay for the Redding store's scheduled opening.

Trader Joe's will open Feb. 1. That was the word in August from the developer who's building the store near the corner of Hilltop Drive and Browning Street.

But a friend told me last week that she was told by a Trader Joe's employee in Chico that the Redding store won't open until at least the summer.

There's a problem with the parking, the TJ worker said.

Parking? The shopping center was OK'd by the Redding Planning Commission in January 2007. The use permit addressed parking.

For the record, this isn't the first time employees at other TJ stores have fanned flames of doubt.

Earlier this year, the buzz was employees were telling folks up here who made the pilgrimage south for their TJ fix that the Redding store was delayed because it was having trouble obtaining its wine and beer license. Never mind that Trader Joe's had already received approval from the Alcoholic Beverage Control Department when this rumor started circulating.

Alas, neither Trader Joe's nor the developer returned my calls last week.

Competition is good

I've lived in Redding for nearly 20 years. Ever since I can remember, the beef has been that there are no decent sports bars in this town.

Now, in the span of two months, two new sports bars have opened here.

In September, Johnny's on California Street downtown was the first out of the gate.

On Wednesday, Bleachers Sports Bar & Grill opened across town on Hilltop Drive, two doors north of Subway. Owner Tyree Bolton started work on converting the former Chuck E Cheese's building into a sports bar more than a year ago.

Bleachers is open daily until midnight and serves lunch and dinner. In addition to some 30 televisions, the bar has video games and pool tables.

Let the games begin.

Zillow alert

The bane of some in the industry, Zillow.com last week released its home value report for the third quarter.

Values in Redding, which encompasses Anderson and Shasta Lake, declined 4.2 percent year-over-year to a Zillow Home Value index of $259,832. That's compared to a nationwide decline of 9.7 percent to a value of $202,966.

Nearly 65 percent of the homes in our area lost value over the past year. That's a veritable real estate boom compared to what's happening in Merced, where values fell 32 percent and 99 percent of all homes have depreciated over the past 12 months.

Coming back to Redding, homes in Shasta Lake have been hit hardest, according to Zillow. Values there dropped 6 percent from the second quarter to the third quarter, and 21 percent compared to a year ago.

Zillow has its detractors, including real estate agents and appraisers, but the site contends its methodology eliminates the bias present in median sale prices. That's because it looks at values for all homes in a region, not just the ones sold.

More Thai food

Racha Noodle is expanding across town.

The popular Thai restaurant in south Redding is opening a second location on Dana Drive.

They will call it 5 Thais Tasty Thai Food and it's in the Metro Anderson Tri Center inside the former The Cool Breeze Yogurt Cafe, which closed earlier this year after more than 15 years in business.

The 5 Thais of Racha Noodle won't give an opening date, only saying the new location is coming soon.