What’S Happening Presentation V2

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Hospitality Association Presentation

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What’S Happening Presentation V2

  1. 1. WHAT’S HAPPENING INPALM SPRINGS? (PSSST….IT’S GOOD) Presentation to the Palm Springs Hospitality Association May 19, 2011
  2. 2. I FOCUS ON DEVELOPMENTPROJECTS, NOT PROGRAMSHotelsShopping Centers/Other RetailResidential Development/Mixed Use ProjectsPublic ProjectsDowntown
  3. 3. RECENT HOTEL PROJECTSRiviera/Renaissance/Hyatt/RivieraHard Rock/MondrianLos Arboles (Indian Manor)
  4. 4. RIVIERA RENOVATION
  5. 5. RENAISSANCE/HYATT RENOVATIONS Renaissance Hyatt
  6. 6. HARD ROCK HOTEL
  7. 7. MONDRIAN
  8. 8. LOS ARBOLES (INDIAN MANOR)
  9. 9. LOS ARBOLES
  10. 10. NET RESULT – TOT IS UP! Fiscal Year Fiscal Year Fiscal Year Fiscal Year 09/10 v. 10/11 Month 2007-08 2008-09 2009-10 2010-11 % Change July $ 693,328 $ 727,810 $ 681,421 $ 893,586 31.14% August 799,308 790,148 627,625 715,061 13.93% September 840,200 741,931 708,714 835,392 17.87% October 1,142,584 957,351 1,084,333 1,074,067 (0.95%) November 1,344,172 1,108,968 1,151,258 1,162,232 0.95% December 1,010,671 800,528 790,820 966,193 22.18% January 1,335,151 1,092,858 1,137,727 1,307,064 14.88% February 1,622,198 1,277,158 1,377,860 1,550,262 12.51% March 2,081,218 1,622,398 1,808,229 April 1,670,021 1,773,237 1,952,692 May 1,218,972 1,118,319 1,268,493 June 708,657 740,772 778,513 $ 14,466,480 $ 12,751,478 $13,367,685 $ 8,503,857 12.49%
  11. 11. OVERALL REVENUE PICTURE Total Property Sales Revenues Revenues Taxes TOT * UUT Taxes 09-10 9 Months $38,790,476 $10,269,044 $7,559,758 $4,341,688 $5,022,204 10-11 9 Months $40,433,885 $9,393,210 $8,503,857 $4,811,318 $5,430,699 09-10 Actuals $65,791,021 $17,803,811 $13,367,685 $6,575,901 $8,221,763 10-11 Projected $66,623,839 $17,043,345 $14,300,000 $6,525,000 $8,540,000 * TOT reflects only 8 months of revenue
  12. 12. SHOPPING CENTERS/SALES TAXSmoketree Commons/Smoketree VillageThe Springs/Gene Autry Retail CenterNew Rite Aid/Palm Springs MallMercedes Benz Expansion
  13. 13. SMOKETREE COMMONS
  14. 14. SMOKETREE COMMONS
  15. 15. THE SPRINGS
  16. 16. THE SPRINGS
  17. 17. RITE AID/OTHER RETAIL
  18. 18. PALM SPRINGS MALL
  19. 19. MERCEDES BENZ EXPANSION
  20. 20. OVERALL - SALES TAX RETURNING TO PS! Comparisons: 09-10 10-11 3Qs  Palm Springs ↓ –2.4% ↑ +7.9%  Coachella Valley ↓ –10.9% ↑ +5.3%  Riverside County ↓ –10.8% ↑ +5.2%  Inland Empire ↓ –10.9% ↑ +5.2%  Southern California ↓ –10.9% ↑ +5.4%  State of California ↓ –11.0% ↑ +5.8%
  21. 21. RESIDENTIAL DEVELOPMENTStanding inventory (Tangerine, Palermo, Palomino)Escena – course and clubhouse open, building homesThe Morrison under construction and sellingAffordable housing projects in the pipeline
  22. 22. ESCENA CLUBHOUSE
  23. 23. THE MORRISON – UNDER CONSTRUCTION
  24. 24. ROSA GARDENS
  25. 25. SUNSET PALMS
  26. 26. MIXED USE PROJECTSPort LawrenceThe Palm Canyon (Ramon/SPC)The Cameron Center (Mesquite/SPC)Art Colony (Racquet Club/NPC)Desert Fashion Plaza
  27. 27. PORT LAWRENCE
  28. 28. THE PALM CANYON
  29. 29. PUBLIC PROJECTSCollege of the Desert CampusiHub/CVEP HeadquartersAnimal ShelterSchool District Maintenance FacilityJackie Lee Houston Plaza
  30. 30. COLLEGE OF THE DESERT CAMPUS
  31. 31. COACHELLA VALLEY INNOVATION HUB
  32. 32. CVEP/IHUB HEADQUARTERS
  33. 33. JACKIE LEE HOUSTON PLAZA
  34. 34. DOWNTOWN AND UPTOWNVacancy Reduced/Occupancy UpRecent New Restaurants and upcoming: Lulu California BistroGrowth and Success of Uptown, Entry Corridor: Dink’s, Blue Pear,Dickie O’Neal’s, Toucan’sCity/Agency helped over 100 façade improvements and interiorremodels
  35. 35. NEW-RECENT-RENOVATED RESTAURANTS Dink’s  Grind Brgr Bar Dickie O’Neal’s  Rio Azul Blue Pear  Bill’s Pizza Cowboy Way  Café Zini Med Trio  Cielo Coffee El Mirasol  Johnny Costa’s Birba  Woody’s Burgers
  36. 36. NEW RESTAURANTS
  37. 37. LULU CALIFORNIA BISTRO
  38. 38. UPTOWN PALM SPRINGS
  39. 39. UPTOWN RENOVATION – EL PASEO BUILDING
  40. 40. DESERT FASHION PLAZACommunity Design WorkshopsDevelopment Agreement to Planning Commission/CouncilProject Financing Agreement/Ballot Measure to Council inJune
  41. 41. DESERT FASHION PLAZA Plan includes elements that came out of the Community Design Workshops:  East-west connections/mountain views  Open space/courtyards  Museum expansion site  Movie theaters  Other entertainment uses  Class A retail  Other cultural uses
  42. 42. COMMUNITY DESIGN WORKSHOPS
  43. 43. COMMUNITY DESIGN WORKSHOPS
  44. 44. CONCEPTUAL PLAN

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