VILLAGE 2 Otay Ranch, CA - Retail Insite · 2019. 7. 11. · for Village 2 at build-out (according...
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SITES Olympic Pkwy E Palomar St Heritage Rd La Media Rd Santa Liza Santa Victoria Rd Santa Diana Rd State St Birch Rd La Media Rd Santa Alexia Ave Santa Ivy Santa Christina Santa Carol i n a R d Santa Carolina Rd Santa Christina Wueste Rd FUTURE 6-LANE ARTERIAL RON PEPPER Lic 00865929 858.523.2085 [email protected] JOHN HICKMAN 760.630.8899 [email protected] VILLAGE 2 | Otay Ranch, CA 12,400 ADT 46,300 ADT PROPERTY HIGHLIGHTS • Eastern Chula Vista is the largest growth area in San Diego County projected population of 121,269 by 2020 (SANDAG, 2018) with 4,545 units and 14,726 populated for Village 2 at build-out (according to Otay Ranch GDP/SRP, Part II). The population expands to 129,499 within 3 miles (ESRI, 2018). • Strategically located along Heritage Road which now connects Olympic Parkway and Main Street. • Two sites of 18 and 6 acres to accommodate market, drug, large box and other logical uses, including restaurants and other specialty tenants. • These sites represent the only anchored retail sites in Village 2. Given much of the new retail development is on the east side of Highway 125, these sites are positioned to be dominant within this area. • Substantial existing residential base with strong density at build-out and very good average household incomes of $104,608 within a 3 mile radius (ESRI, 2018).
Transcript of VILLAGE 2 Otay Ranch, CA - Retail Insite · 2019. 7. 11. · for Village 2 at build-out (according...
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SITESOlympic
Pkwy
E Palom
ar St
Heritag
e Rd
La Media Rd
Signalized Intersection
Santa L
iza Stre
et
Right in/R
ight out
Santa L
iza
Santa V
ictoria R
d
Santa D
iana Rd
State St Birch RdLa Media R
d
Santa Alexia Ave
Santa IvySanta Christina
Sant
a C
arol
ina
Rd
Santa Carolina Rd
Santa ChristinaW
uest
e Rd
FUTURE 6-LANE
ARTERIAL
RON PEPPERLic [email protected]
JOHN HICKMAN760.630.8899
V I L L A G E 2 | Otay Ranch, CA
12,400 AD
T46,30
0 ADT
PROPERTY HIGHLIGHTS
• Eastern Chula Vista is the largest growth area in San Diego County projected population of 121,269 by 2020 (SANDAG, 2018) with 4,545 units and 14,726 populated for Village 2 at build-out (according to Otay Ranch GDP/SRP, Part II). The population expands to 129,499 within 3 miles (ESRI, 2018).
• Strategically located along Heritage Road which now connects Olympic Parkway and Main Street.
• Two sites of 18 and 6 acres to accommodate market, drug, large box and other logical uses, including restaurants and other specialty tenants.
• These sites represent the only anchored retail sites in Village 2. Given much of the new retail development is on the east side of Highway 125, these sites are positioned to be dominant within this area.
• Substantial existing residential base with strong density at build-out and very good average household incomes of $104,608 within a 3 mile radius (ESRI, 2018).
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RETAIL INSITE | SITE PLAN
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RETAIL INSITE | AERIAL PHOTO
SITESOlympic
Pkwy
Main St
E Palom
ar St
Heritag
e Rd
La Media Rd
Signalized Intersection
Santa L
iza Stre
et
Right in/R
ight out
Santa L
iza
Santa V
ictoria R
d
Santa D
iana Rd
State St Birch RdLa Media R
d
Santa Alexia Ave
Santa IvySanta Christina
Sant
a C
arol
ina
Rd
Santa Carolina Rd
Santa Christina
Wue
ste
Rd
FUTURE 6-LANE
ARTERIAL
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RETAIL INSITE | AERIAL PHOTO
SITESOlym
pic Pk
wy
Main St
E Palo
mar St
Teleg
raph C
anyo
n Rd
Heritag
e Rd
MILENNIAMixed Use
+/- 210 Acres
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The projects, tenants and site plans illustrated herein are subject to change without notice. You and your advisors should conduct a careful, independent investigation of the information herein to determine to your satisfaction the accuracy. y/files/_Master Aerials/South Bay.pdf
SOUTH BAY
WWW.RETAILINSITE.NET
RETAIL INSITE | AERIAL PHOTO
SITE
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City of Chula Vista – Otay Ranch GDP Land Use Plan
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There are several Villages defined in the Otay Ranch General Development Plan (GDP). The Subject is located within Otay Ranch Village 2, west of HeritageRoad at the extreme western edge of the Otay Valley Parcel. V2 South Retail totals 31.9 acres.
V2 SOUTH RETAIL*Source: City of Chula Vista/Otay Ranch General Development Plan
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Village of Escaya813 units
(471 existingBuildout 2020)
Village of Montecito4,545 units
(2,143 existingadd 1,802 units in the next 3 years
Full buildout in 5 years)
Otay Ranch High School
Elementary School
Village 71,501 units(built out)
Village of Heritage3,933 units(built out)
Village 62,438 units(built out)
Mater Dei High School
St. Paul Senior Living
Village Four784 units(future)
Village Eight West2,015 units
(start construction Fall of 2020)
Main St.
Village Two West178 units
(start construction Spring of 2021)
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Population, Housing & Employment – South County The South County submarket located in the City of Chula Vista is the secondlargest city in San Diego County. According to SANDAG’s 2012 estimates, thesubmarket was home to 15.7% or 492,205 of the County’s 3,143,429 populationbase.
Between 2012 and 2020, approximately 23% of the County’s population growthwill be added in communities encompassed by the South County submarket.Half of the population growth forecast for the South County will occur in ChulaVista, with 95% of that growth occurring in the eastern master plans (Zip Codes91913, 91914, and 91915).
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Chula Vista & South County Population Estimates & Forecast
*Source: Otay Ranch Village Two Comprehensive SPA Plan Amendment Supplemental EIR (SANDAG 2010c)
South County Submarket Locations
South County – City of Chula Vista
Chula Vista & South County Population Estimates & Forecast
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Population & Housing – Surrounding Otay Ranch Villages Bordering Village 3 and Village 4 to the south, the closestnearby Villages to the Subject include Village 1 and Villages 5through 8. Combined with Village 2, these eight Villages total22,888 units, adding an approximate population of about67,668.
Overall, the Chula Vista and Otay Mesa submarkets captured59% of apartment projects and 67% of total units for SouthCounty Rental Projects as of March 2017.
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V2
V6
V3
V1
V7
V5
*Source: Otay Ranch GDP/SRP – Part II
Total Units & Approximate Population
South County Rental Projects (March 2017)Submarket # Complexes Total UnitsBonita 5 494Chula Vista 71 11,222Imperial Beach 6 465National City 13 1,196Nestor 13 1,568Otay Mesa 5 1,692Palm City 5 604Paradise Hills 4 696San Ysidro 7 1,200Chula Vista & Otay Mesa 76 12,914Grand Total 129 19,137
*Source: MarketPointe Realty Advisors
V8V4
SF Units MF Units Total UnitsVillage 1 2,454 1,522 3,976 11,734Village 2 604 3,941 4,545 14,726Village 3 1,002 595 1,597 4,873Village 4 453 -- 453 1,495Village 5 1,263 1,550 2,813 7,995Village 6 941 1,497 2,438 6,830Village 7 1,008 448 1,456 4,369Village 8 1,564 4,046 5,610 15,646Total 9,289 13,599 22,888 67,668
Dwelling Units Approx. Pop.Village
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Otay Ranch Village 2 – Current & Projected BuildoutGrowth projections from August 2015 through December 2020 indicate an additional 7,457 residential units could be permitted for construction in the Cityover the next five years, (6,057 units in the east and 1,400 units in the west), for an annual average of 1,211 units in the east and 280 units in the west, or1,491 housing units permitted per year on average, citywide.
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PROJECTED BUILDOUTCurrent
Three yearV2 South Retail
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E X P A N D E D D E M O G R A P H I C P R O F I L EEstimated 2018 • Source: ESRI
VILLAGE 2 | OTAY RANCH, CA
POPULATION 1 MILE 3 MILES 5 MILESEstimated Population 14,502 129,498 318,687
Forecasted Population (2022) 15,866 138,757 337,437
HOUSEHOLDSHouseholds 4,015 36,708 90,712
AVG HHD INCOMEEstimated Avg Household Income $110,241 $104,608 $91,320
MEDIAN HH INCOMEEstimated Median Household Income $97,946 $89,169 $73,588
PER CAPITA INCOMEEst. Proj. Per Capita Income $31,235 $30,050 $26,599
OTHER INCOMEEst. Proj. Median Disposable Income $72,175 $67,486 $57,144
DAYTIME DEMOSTotal Daytime Population 8,472 89,008 242,467
RACE & ETHNICITY 1 MILE 3 MILES 5 MILESWhite 5,842 40.28%
61,316 47.35%
163,055 51.16%
Black or African American 862 5.94%6,5675.07%
15,1214.74%
American Indian & Alaskan Native 510.35%737
0.57%2,0990.66%
Asian 4,65232.08%29,039 22.42%
49,524 15.54%
Hawaiian & Pacific Islander 970.67%746
0.58%1,6490.52%
Other Race 1,99513.76%22,516 17.39%
68,650 21.54%
Two or More Races 1,0046.92%8,578 6.62%
18,589 5.83%
AGE DISTRIBUTIONMedian Age 32.5 yrs 34.0 yrs 34.8 yrs
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