Meet the Neighbors

The Woolworth’s Building has always been an anchor. Rising unshaken from the 1952 earthquake, it stayed put as the decades swirled around it, the vinyl booths and milkshake mixers long outlasting the chain store’s corporate footprint. And now, in a turn both surprising and inevitable, it’s being brought back to life by two people who never left. 

Emily and Sherod Waite, lifelong Bakersfield residents and co-founders of Moneywise Wealth Management, weren’t looking to make a statement. They needed more room. But when they learned the Woolworth’s Building was for sale, the opportunity was too layered to ignore: a chance to expand their business, to preserve a cornerstone of downtown, and to reinvest in a place they’ve quietly championed for years. 

“For the past 15 years, I’ve been drawn to downtown’s creative energy,” Emily says. “It’s a real ecosystem — generational businesses, artists, entrepreneurs, institutions that have shaped Bakersfield’s identity. When our firm needed to grow, we didn’t look elsewhere. We looked downtown.” 

The building spans 44,000 square feet across four levels, each with its own quirks and complications. Adapting them wasn’t easy. The mechanical systems were outdated, the infrastructure unyielding, the fire codes unrelenting. With their shared business acumen and creative vision, the Waites moved methodically, balancing historical preservation with present-day function. 

“We knew we were inheriting something significant. But we also had to make it work — not just as a monument, but as a living, usable space.” 

They brought in preservation experts to navigate the building’s quirks — the original safe, still locked in five feet of concrete; the hand-penciled ledgers in the upstairs office; the grill’s ancient exhaust hood caked in decades of history. They also filed for, and secured, placement on the National Register of Historic Places, not as a finishing touch, but as a foundational step. 

The designation adds a layer of federal recognition, but for the Waites, the weight is more personal. “It means this building belongs to the story of Bakersfield, and to the country, too,” Emily says. “It’s something we protect, not just for now, but for the future.” 

At street level, the Luncheonette will return this summer, helmed by chef Richard Yoshimura. His menu will nod to the mid-century spirit of the space while inviting a new generation to gather, eat, and linger. Yoshimura’s menu draws on both mid-century classics and present-day curiosity. Beneath the Luncheonette, a disused basement is being transformed into a cultural engine for downtown: part stage, part studio, part civic forum — plus a bar. The upper floors will house Moneywise and, in time, other local businesses, rounding out the building’s new identity, one built on layers, not replacements. 

The Waites aren’t newcomers to the arts. Emily is a musician and visual artist who entered the city’s creative community just five years ago and found not only belonging, but direction. Her leadership is shaped by that experience, a desire to create what she once needed: a space for local talent to thrive. 

“I want this building to offer what didn’t exist when I started out — studios, venues, opportunities. We have so much potential here. The talent is already in Bakersfield. What’s missing is infrastructure.” 

Sherod sees the restoration as both personal and civic. “This place has always been about connection,” he says. “That doesn’t have to change. We’re just opening the doors again.” 

Their aim isn’t modest. They envision the Woolworth’s Building as a creative and economic keystone for the neighborhood: a venue for artists, a magnet for foot traffic, a stage for big ideas. And they’re already looking forward, eyeing future educational programming, music festivals, and cultural moments that don’t require anyone to leave town to feel part of something meaningful. 

“This project is our love letter to Bakersfield. Not a past version. The one that’s growing now. The one still coming into view.”