Dubbed the “Gateway to Yosemite,” Merced has long faced the same stereotype as nearby cities like Fresno, Modesto, Stockton and the bulk of the San Joaquin Valley: there’s nothing to do there. But a recent, sizable investment in the historic downtown area, including a new boutique hotel, El Capitan, the revitalization of the historic Mainzer Theater and the region’s first fine-dining restaurant, Rainbird, has changed the cityscape quite a bit.