Why glendal04.29.10

Why Glendale? Philip Lanzafame, Director Community Redevelopment & Housing

Glendale Quick Facts
Population – 207,157
LA County’s Third Largest City
Competitive Low Cost Business Environment
Top 10 Safest Cities in U.S.
Centrally located to serve Southern California Global Business Community & Regional Employment Center
Fiscally Responsible – AAA Credit Rating

Commercial Real Estate
Retail – 8 million plus SF - 5% vacancy - Linen’s N Things, Marshall’s Shoes, Smart & Final, Border’s (sublet)
Office – 6 million plus SF - 20% vacancy- 100K plus SF available in five buildings
Industrial – 8 million plus SF - 3% vacancy

Economic Highlights
Daytime working population – 80,000
Home to DreamWorks, Nestle USA, Public Storage, IHOP, Applebee’s, Disney Interactive & Consumer Products, AT&T Interactive, Brand Boulevard of Cars, KABC TV
Regional Healthcare Center – 3 Major Hospitals
Regional Shopping Destination – Glendale Galleria, Americana at Brand, Fashion Center

Economic Highlights
March Unemployment – 10.7%
Sales tax receipts – Three quarters FY to date $19,776,080
Top sales tax producer concentration – auto dealers and retailers (Apple, Forever 21, Home Depot, Nordstrom)

Glendale Median Home Prices
2009/2010 %
Zip Med. Price Change
91201 $632/$575 +10%
91202 $579/$712 -19%
91203 $582/$310 +88%
91204 $405/$480 -16%
91205 $465/$398 +17%
91206 $699/$735 -5%
91207 $674/$789 -15%
91208 $738/$678 +9%
91214 $562/$625 -10%
*Home Data - 2010

Current Affordable Housing (Multi-Family)
Recently completed:
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
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
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.

Nearing completion:
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
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

In Development:
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
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
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.

Grand Central Creative Campus (GC3) Disney
Grand Central Business Centre – One of the country’s first planned industrial parks – Future high-tech creative campus
Replacement/rehabilitation of 2.5 Million SF & new construction of up to 3.5 Million SF on 125 acres
Phase I – Two 125,000 SF office buildings completed in 2006
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
Overall mix of media-related, entertainment uses including high bay creative space, sound stages, production facilities and related auxiliary uses
7,000 estimated permanent jobs upon completion

DreamWorks
Corporate Headquarters
1000 Flower Street
460,000 SF on 13.3 acres
1,300 Estimated full-time jobs
Lakeside Annex completed March 2010 which includes 128,000 SF of office and a 4-story parking garage

Hyatt Place
225 W. Wilson
11-Story, 172 Room Hotel
Meeting Rooms, Garden Decks, Fitness Center and Pool
4 Levels Subterranean Parking
Entitlements approved include Stage II Design and Sign Program, CEQA review, Parking Plan, and Urban Art Program

New Business Investment
Subaru of Glendale
Trader Joe’s
Panera Bread
Chipotle
MyShape
Museum of Neon Art

2009/2010 Business Expansion
Express Video Supply
Snookie’s Cookies
AT&T Interactive
Arecont Vision
Ignition Entertainment
Andrew Christian

Agency Initiative – Creative Corridor
San Fernando Road Redevelopment Project Area – 750 acres
Goal – Create/brand an industry cluster of creative uses to ensure long-term economic success
Capitalize on Disney, KABC & DreamWorks as catalytic projects
Task Force formed to provide guidance
Define the corridor, types of uses, priorities, etc.

Agency Initiative – Arts & Entertainment District
Maryland Street between Wilson and Central Library
Broadway Lofts featuring ground floor recreation/entertainment
City Art Gallery
Jazz supper club
Independent Movie Theatre

Retail Attraction
Jersey Mike’s
Yogurt Land
Ultimate Electronics
Kinder Care
REI
Bev Mo
Walgreen’sBob’s
Big Boy
Denny’s
Tuesday Morning
Centinela Feed & Pet Supply
Chic-fil-A

Branding & Marketing
Agency approved a Professional Services Agreement with North Star Destination Strategies for citywide and branding and marketing
Evaluate the City’s image and theme
Outline new marketing strategies in business attraction, business development, and public communication
Promote the identity of neighborhood business districts as destinations
Promote special events
Position Glendale as a premiere destination to live, work, and play

THANK YOU For Additional Information Contact Ken Hitts Economic Development Manager (818) 548-3155 Visit www.ThinkGlendale.com

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Why glendal04.29.10

by Chris Griffiths on Jul 01, 2010

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