2014 Palm Springs Commerical Real Estate Update

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This was prepared for the Desert Area Commercial Industrial Exchange in January, 2014

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2014 Palm Springs Commerical Real Estate Update

  1. 1. 2014 Palm Springs Commercial Real Estate Update
  2. 2. Worldwide Media and Branding
  3. 3. USA TODAY Palm Springs, remixed: A retro classic reborn
  4. 4. Travel & Leisure Magazine Palm Springs Named one of America’s Top Romantic Winter Destinations
  5. 5. Frommers.com Palm Springs named one of Top 2014 Travel Destinations
  6. 6. TripAdvisor.com Palm Springs named in Top 25 “Travelers’ Choice” Destinations
  7. 7. The Biggest Stars in the World Love Palm Springs!
  8. 8. Palm Springs is the hippest, most happening resort city in SoCal and beyond!
  9. 9. Economic Development Aiport, Hotels, Incentive Programs, Indian/I-10
  10. 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!
  11. 11. 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
  12. 12. 2007 2012 07-12 Market 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)
  13. 13. Hospitality Incentive Program, New Hotels
  14. 14. Hotel Remodel Projects
  15. 15. North End Hotel Remodel Projects
  16. 16. Other Hotel Projects
  17. 17. Arrive Hotel
  18. 18. Port Lawrence
  19. 19. Dolce Resort
  20. 20. Incentive Programs
  21. 21. Special Focus Incentive Zone Program Southern Focus Area Northern Focus Area
  22. 22. Incentive Program
  23. 23. Incentive Program – Hacienda Cantina
  24. 24. Industrial Development iHub and I-10
  25. 25. 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
  26. 26. iHub Accelerator Campus Three Year Commitment to Fund Facility Improvements and Provide a Match for Federal EDA Grants
  27. 27. Indian/I-10 Area
  28. 28. Downtown Stuff Marilyn, Plaza Theatre, Historic Buildings, Uptown, Trolley
  29. 29. Forever Marilyn
  30. 30. Plaza Theatre
  31. 31. Historic Buildings
  32. 32. Edwards Harris Architecture and Design Center
  33. 33. 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.
  34. 34. Trolley (these just sample images – don’t get too excited) 36© Copyright Symblaze, Inc. 2013 www.symblaze.com
  35. 35. Downtown Project Progress Report, Litigation, Vote!
  36. 36. Downtown Project Demolition Progress in 2013
  37. 37. Downtown Project Demolition Completed in January
  38. 38. John S. Raymond Director of Community & Economic Development City of Palm Springs office phone: 760.323.8228 cell phone: 760.902.1903 e-mail: John.Raymond@palmspringsca.gov

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