2014 palm springs commerical real estate update
DESCRIPTION
This was prepared for the Desert Area Commercial Industrial Exchange in January, 2014TRANSCRIPT
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2014 Palm Springs Commercial Real Estate Update
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Worldwide Media and Branding
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USA TODAY
Palm Springs,
remixed: A retro classic reborn
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Travel & Leisure
Magazine
Palm Springs
Named one of America’s
Top Romantic
Winter Destinations
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Frommers.com
Palm Springs
named one of Top 2014
Travel Destinations
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TripAdvisor.com
Palm Springs named in Top 25
“Travelers’ Choice”
Destinations
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The Biggest Stars in the World Love Palm Springs!
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Palm Springs is the hippest, most happening resort city in SoCal and beyond!
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Economic DevelopmentAiport, Hotels, Incentive Programs, Indian/I-10
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Economic Development Activities
• Palm Springs International Airport
• Downtown Issues
• Hotels
• Incentive Programs
• Special Focus Incentive Area
• iHub/Accelerator Campus
• Indian/I-10 Area
• Downtown Revitalization Project
It’s been a tremendous year in economic development in Palm Springs!
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Toronto
Houston
Winnipeg
New York JFKSan Francisco
Access to over 500 cities every year.
Asia/ Pacific
Mexico & Latin America
UK & Europe
Northeast & Mid-Atlantic
Southeast & Florida
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2007 2012 07-12Market Psgrs Psgrs Chng
Tucson 2,178,909 1,710,638 -21%
Savannah-Hilton Head 992,569 789,256 -20%
Pensacola 832,127 740,852 -11%
Palm Springs 805,546 866,095 8%
Myrtle Beach 804,789 722,775 -10%
Sarasota-Bradenton 782,459 637,260 -19%
Vail 231,691 167,901 -28%
Aspen 182,198 214,892 18%
Totals - All but PSP 6,004,742 4,983,574 -17%
TOP 100 US Airports (Mil) 716.8 688.2 -4%
2007 Record Year Comparisons
(Source: FAA Enplaned Passengers)
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HospitalityIncentive Program, New Hotels
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Hotel Remodel Projects
HILTON AND HARD ROCK
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North EndHotel Remodel Projects
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Other Hotel Projects
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Arrive Hotel
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Port Lawrence
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Dolce Resort
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Incentive Programs
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Special Focus Incentive Zone Program
Southern Focus Area Northern Focus Area
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Incentive Program
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Incentive Program – Hacienda Cantina
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Industrial DevelopmentiHub and I-10
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Coachella Valley iHub Report
• 20 Businesses Currently in Program
• 3 Clients Chosen to Present at “World’s Best Tech” Conference
• Recognized as Best Practices iHub by State, Co-Authored California iHub Plan
• Partnering with National Renewable Energy Lab in Golden, CO for Tech Transfer
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iHub Accelerator Campus
Three Year Commitment to Fund Facility Improvements and Provide a Match for Federal EDA Grants
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Indian/I-10 Area
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Downtown StuffMarilyn, Plaza Theatre, Historic Buildings, Uptown, Trolley
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Forever Marilyn
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Plaza Theatre
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Historic Buildings
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Edwards Harris Architecture and Design Center
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Uptown Design District
With an astounding 90% participation rate among its merchant base, the Uptown District undertook its third year of managing its own branding with a brochure, billboard and Airport advertising campaigns which have solidified this area as the “chic” retro retail area, and garnered worldwide press.
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Trolley (these just sample images – don’t get too excited)
36© Copyright Symblaze, Inc. 2013 www.symblaze.com
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Downtown ProjectProgress Report, Litigation, Vote!
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Downtown ProjectDemolition Progress in 2013
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Downtown ProjectDemolition Completed in January
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John S. RaymondDirector of Community & Economic
Development
City of Palm Springs
office phone: 760.323.8228
cell phone: 760.902.1903
e-mail: [email protected]