2014 palm springs commerical real estate update
DESCRIPTION
This was prepared for the Desert Area Commercial Industrial Exchange in January, 2014TRANSCRIPT
2014 Palm Springs Commercial Real Estate Update
Worldwide Media and Branding
USA TODAY
Palm Springs,
remixed: A retro classic reborn
Travel & Leisure
Magazine
Palm Springs
Named one of America’s
Top Romantic
Winter Destinations
Frommers.com
Palm Springs
named one of Top 2014
Travel Destinations
TripAdvisor.com
Palm Springs named in Top 25
“Travelers’ Choice”
Destinations
The Biggest Stars in the World Love Palm Springs!
Palm Springs is the hippest, most happening resort city in SoCal and beyond!
Economic DevelopmentAiport, Hotels, Incentive Programs, Indian/I-10
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!
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
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)
HospitalityIncentive Program, New Hotels
Hotel Remodel Projects
HILTON AND HARD ROCK
North EndHotel Remodel Projects
Other Hotel Projects
Arrive Hotel
Port Lawrence
Dolce Resort
Incentive Programs
Special Focus Incentive Zone Program
Southern Focus Area Northern Focus Area
Incentive Program
Incentive Program – Hacienda Cantina
Industrial DevelopmentiHub and I-10
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
iHub Accelerator Campus
Three Year Commitment to Fund Facility Improvements and Provide a Match for Federal EDA Grants
Indian/I-10 Area
Downtown StuffMarilyn, Plaza Theatre, Historic Buildings, Uptown, Trolley
Forever Marilyn
Plaza Theatre
Historic Buildings
Edwards Harris Architecture and Design Center
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.
Trolley (these just sample images – don’t get too excited)
36© Copyright Symblaze, Inc. 2013 www.symblaze.com
Downtown ProjectProgress Report, Litigation, Vote!
Downtown ProjectDemolition Progress in 2013
Downtown ProjectDemolition Completed in January
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]