Why glendal04.29.10

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Why glendal04.29.10

  1. 1. Why Glendale? Philip Lanzafame, Director Community Redevelopment & Housing
  2. 2. Glendale Quick Facts <ul><li>Population – 207,157 </li></ul><ul><li>LA County’s Third Largest City </li></ul><ul><li>Competitive Low Cost Business Environment </li></ul><ul><li>Top 10 Safest Cities in U.S. </li></ul><ul><li>Centrally located to serve Southern California Global Business Community & Regional Employment Center </li></ul><ul><li>Fiscally Responsible – AAA Credit Rating </li></ul>
  3. 3. Commercial Real Estate <ul><li>Retail – 8 million plus SF - 5% vacancy - Linen’s N Things, Marshall’s Shoes, Smart & Final, Border’s (sublet) </li></ul><ul><li>Office – 6 million plus SF - 20% vacancy- 100K plus SF available in five buildings </li></ul><ul><li>Industrial – 8 million plus SF - 3% vacancy </li></ul>
  4. 4. Economic Highlights <ul><li>Daytime working population – 80,000 </li></ul><ul><li>Home to DreamWorks, Nestle USA, Public Storage, IHOP, Applebee’s, Disney Interactive & Consumer Products, AT&T Interactive, Brand Boulevard of Cars, KABC TV </li></ul><ul><li>Regional Healthcare Center – 3 Major Hospitals </li></ul><ul><li>Regional Shopping Destination – Glendale Galleria, Americana at Brand, Fashion Center </li></ul>
  5. 5. Economic Highlights <ul><li>March Unemployment – 10.7% </li></ul><ul><li>Sales tax receipts – Three quarters FY to date $19,776,080 </li></ul><ul><li>Top sales tax producer concentration – auto dealers and retailers (Apple, Forever 21, Home Depot, Nordstrom) </li></ul>
  6. 6. Glendale Median Home Prices <ul><ul><li> 2009/2010 % </li></ul></ul><ul><li>Zip Med. Price Change </li></ul><ul><li>91201 $632/$575 +10% </li></ul><ul><li>91202 $579/$712 -19% </li></ul><ul><li>91203 $582/$310 +88% </li></ul><ul><li>91204 $405/$480 -16% </li></ul><ul><li>91205 $465/$398 +17% </li></ul><ul><li>91206 $699/$735 -5% </li></ul><ul><li>91207 $674/$789 -15% </li></ul><ul><li>91208 $738/$678 +9% </li></ul><ul><li>91214 $562/$625 -10% </li></ul><ul><li>*Home Data - 2010 </li></ul>
  7. 7. Current Affordable Housing (Multi-Family) <ul><li>Recently completed: </li></ul><ul><li>Casa De La Amistad, a 24-unit rental project located at 6200 San Fernando Road, developed in partnership with United Cerebral Palsy and completed in February, 2010 </li></ul><ul><li>Glendale City Lights, a 68-unit rental project located at 3673 San Fernando Road, developed in partnership with Advanced Development and Investment and completed in February, 2010 </li></ul><ul><li>Gardens on Garfield, a 30-unit rental project located at 303 E Garfield, developed in partnership with Thomas Safran and Associates and completed in April, 2010, Grand opening event scheduled for Wednesday, June 9th, 2010. </li></ul>
  8. 8. Current Affordable Housing (Multi-Family) <ul><li>Nearing completion: </li></ul><ul><li>Habitat at Kenwood, an 11-unit for sale project located at 711-717 N Kenwood, developed in partnership with the San Gabriel Valley Habitat for Humanity, expected to be completed in June, 2010. Grand Opening event scheduled for June 5th, 2010 </li></ul><ul><li>Vassar City Lights, a 72-unit rental project located at 1814 Vassar Avenue, developed in partnership with Advanced Development and Investment, expected to be  completed in August, 2010 </li></ul>
  9. 9. Current Affordable Housing (Multi-Family) <ul><li>In Development: </li></ul><ul><li>Doran Gardens, a 60-unit for sale project located at 331-343 W Doran Street, proposed by Heritage Housing Partners, expected to break ground Summer, 2010 </li></ul><ul><li>Central City Lights, a 36-unit rental project located at 327-331 W Salem Avenue, proposed by Advanced Development and Investment, expected to break ground in Fall, 2010 </li></ul><ul><li>Habitat at Geneva, a 5-unit for sale project located at 624 Geneva Street, proposed by the San Gabriel Valley Habitat for Humanity, expected to break ground in January, 2011. </li></ul>
  10. 10. Grand Central Creative Campus (GC3) Disney <ul><li>Grand Central Business Centre – One of the country’s first planned industrial parks – Future high-tech creative campus </li></ul><ul><li>Replacement/rehabilitation of 2.5 Million SF & new construction of up to 3.5 Million SF on 125 acres </li></ul><ul><li>Phase I – Two 125,000 SF office buildings completed in 2006 </li></ul><ul><li>Phase II – One office building divided into a North Wing (6 stories) and a South Wing (5 stories) totaling 338,000 SF and 6-story parking structure w 1200 spaces </li></ul><ul><li>Overall mix of media-related, entertainment uses including high bay creative space, sound stages, production facilities and related auxiliary uses </li></ul><ul><li>7,000 estimated permanent jobs upon completion </li></ul>
  11. 11. DreamWorks <ul><li>Corporate Headquarters </li></ul><ul><li>1000 Flower Street </li></ul><ul><li>460,000 SF on 13.3 acres </li></ul><ul><li>1,300 Estimated full-time jobs </li></ul><ul><li>Lakeside Annex completed March 2010 which includes 128,000 SF of office and a 4-story parking garage </li></ul>
  12. 12. Hyatt Place <ul><li>225 W. Wilson </li></ul><ul><li>11-Story, 172 Room Hotel </li></ul><ul><li>Meeting Rooms, Garden Decks, Fitness Center and Pool </li></ul><ul><li>4 Levels Subterranean Parking </li></ul><ul><li>Entitlements approved include Stage II Design and Sign Program, CEQA review, Parking Plan, and Urban Art Program </li></ul>
  13. 13. New Business Investment <ul><li>Subaru of Glendale </li></ul><ul><li>Trader Joe’s </li></ul><ul><li>Panera Bread </li></ul><ul><li>Chipotle </li></ul><ul><li>MyShape </li></ul><ul><li>Museum of Neon Art </li></ul>
  14. 14. 2009/2010 Business Expansion <ul><li>Express Video Supply </li></ul><ul><li>Snookie’s Cookies </li></ul><ul><li>AT&T Interactive </li></ul><ul><li>Arecont Vision </li></ul><ul><li>Ignition Entertainment </li></ul><ul><li>Andrew Christian </li></ul>
  15. 15. Agency Initiative – Creative Corridor <ul><li>San Fernando Road Redevelopment Project Area – 750 acres </li></ul><ul><li>Goal – Create/brand an industry cluster of creative uses to ensure long-term economic success </li></ul><ul><li>Capitalize on Disney, KABC & DreamWorks as catalytic projects </li></ul><ul><li>Task Force formed to provide guidance </li></ul><ul><li>Define the corridor, types of uses, priorities, etc. </li></ul>
  16. 16. Agency Initiative – Arts & Entertainment District <ul><li>Maryland Street between Wilson and Central Library </li></ul><ul><li>Broadway Lofts featuring ground floor recreation/entertainment </li></ul><ul><li>City Art Gallery </li></ul><ul><li>Jazz supper club </li></ul><ul><li>Independent Movie Theatre </li></ul>
  17. 17. Retail Attraction <ul><li>Jersey Mike’s </li></ul><ul><li>Yogurt Land </li></ul><ul><li>Ultimate Electronics </li></ul><ul><li>Kinder Care </li></ul><ul><li>REI </li></ul><ul><li>Bev Mo </li></ul><ul><li>Walgreen’sBob’s </li></ul><ul><li>Big Boy </li></ul><ul><li>Denny’s </li></ul><ul><li>Tuesday Morning </li></ul><ul><li>Centinela Feed & Pet Supply </li></ul><ul><li>Chic-fil-A </li></ul>
  18. 18. Branding & Marketing <ul><li>Agency approved a Professional Services Agreement with North Star Destination Strategies for citywide and branding and marketing </li></ul><ul><li>Evaluate the City’s image and theme </li></ul><ul><li>Outline new marketing strategies in business attraction, business development, and public communication </li></ul><ul><li>Promote the identity of neighborhood business districts as destinations </li></ul><ul><li>Promote special events </li></ul><ul><li>Position Glendale as a premiere destination to live, work, and play </li></ul>
  19. 19. THANK YOU For Additional Information Contact Ken Hitts Economic Development Manager (818) 548-3155 Visit www.ThinkGlendale.com

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