Post on 29-May-2015
description
WHAT’S HAPPENING IN
PALM SPRINGS? (PSSST….IT’S GOOD)
Presentation to the Palm Springs Hospitality
Association
May 19, 2011
I FOCUS ON DEVELOPMENT
PROJECTS, NOT PROGRAMS
Hotels
Shopping Centers/Other Retail
Residential Development/Mixed Use Projects
Public Projects
Downtown
RECENT HOTEL PROJECTS
Riviera/Renaissance/Hyatt/Riviera
Hard Rock/Mondrian
Los Arboles (Indian Manor)
RIVIERA RENOVATION
RENAISSANCE/HYATT RENOVATIONS
Renaissance Hyatt
HARD ROCK HOTEL
MONDRIAN
LOS ARBOLES (INDIAN MANOR)
LOS ARBOLES
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%
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
SHOPPING CENTERS/SALES TAX
Smoketree Commons/Smoketree Village
The Springs/Gene Autry Retail Center
New Rite Aid/Palm Springs Mall
Mercedes Benz Expansion
SMOKETREE COMMONS
SMOKETREE COMMONS
THE SPRINGS
THE SPRINGS
RITE AID/OTHER RETAIL
PALM SPRINGS MALL
MERCEDES BENZ EXPANSION
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%
RESIDENTIAL DEVELOPMENT
Standing inventory (Tangerine, Palermo, Palomino)
Escena – course and clubhouse open, building homes
The Morrison under construction and selling
Affordable housing projects in the pipeline
ESCENA CLUBHOUSE
THE MORRISON – UNDER CONSTRUCTION
ROSA GARDENS
SUNSET PALMS
MIXED USE PROJECTS
Port Lawrence
The Palm Canyon (Ramon/SPC)
The Cameron Center (Mesquite/SPC)
Art Colony (Racquet Club/NPC)
Desert Fashion Plaza
PORT LAWRENCE
THE PALM CANYON
PUBLIC PROJECTS
College of the Desert Campus
iHub/CVEP Headquarters
Animal Shelter
School District Maintenance Facility
Jackie Lee Houston Plaza
COLLEGE OF THE DESERT CAMPUS
COACHELLA VALLEY INNOVATION HUB
CVEP/IHUB HEADQUARTERS
JACKIE LEE HOUSTON PLAZA
DOWNTOWN AND UPTOWN
Vacancy Reduced/Occupancy Up
Recent New Restaurants and upcoming: Lulu California Bistro
Growth and Success of Uptown, Entry Corridor: Dink’s, Blue Pear, Dickie O’Neal’s, Toucan’s
City/Agency helped over 100 façade improvements and interior remodels
NEW-RECENT-RENOVATED RESTAURANTS
Dink’s
Dickie O’Neal’s
Blue Pear
Cowboy Way
Trio
El Mirasol
Birba
Grind Brgr Bar
Rio Azul
Bill’s Pizza
Café Zini Med
Cielo Coffee
Johnny Costa’s
Woody’s Burgers
NEW RESTAURANTS
LULU CALIFORNIA BISTRO
UPTOWN PALM SPRINGS
UPTOWN RENOVATION – EL PASEO BUILDING
DESERT FASHION PLAZA
Community Design Workshops
Development Agreement to Planning Commission/Council
Project Financing Agreement/Ballot Measure to Council in June
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
COMMUNITY DESIGN WORKSHOPS
COMMUNITY DESIGN WORKSHOPS
CONCEPTUAL PLAN