MIRASERA MIXED USE SPECIFIC PLAN (APPROVED) | 190± …€¦ · 40421.04.000 SPECIFIC PLAN THE...
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MIRASERA & PALM DESERT AREA OVERVIEW BROKER CONTACT Erik Christianson CA DRE #01475105 C (949) 910-7337 | T (949) 705-0920 echristianson@hoffmanland.com PROPERTY DETAILS LOCATION Un-Incorporated Palm Desert, California REGION Coachella Valley, Riverside County INTERSECTION North of Varner Road/I-10, West of Washington Street, South of Ave. 38 AREA LANDMARKS Del Web Sun City, Stater Brothers, Adjacent “Desert Business Park” PROPERTY SIZE 190± Acres (3,250 Length of Southern Border Along I-10) ZONING/GP S-P (Specific Plan); C-P-S (Scenic Highway Commercial) USES 95.2 Acres Residential (1,756 Units), 17.5 Acres Business Park (228,700 Sq. Ft.), 17.2 Acres Retail (187,300 Sq. Ft.), 3.1 Acres Hotel (200 Units), 6 Acre Park, 8 Acres Other Parks & Trails, 31.1 Roads & OS, 14.8 Acres Drainage Channel ENTITLEMENTS Approved Mirasera Specific Plan #338 | Approved EIR #486 | Approved TTM #35058 SITE CONDITION On-Sites Unimproved. Adjacent to major arterial roads & infrastructure. OFFER DUE DATE Offers to Be Considered as Submitted HOME PRICE LAST 12 MONTHS (RE-SALE + NEW) : 4.3% Sources: Market Watch LLC, DataQuick, CA Board of Equalization AVG. HOUSEHOLD INCOME: $130,954 PALM DESERT QUICK FACTS “THE MIRASERA SPECIFIC PLAN” generally located north of I-10 and west of the Washington Street interchange, is one of the last vacant land properties along I-10 (with an impressive 3,250 linear ft. along I-10) in the center of the growing Coachella Valley region and includes uses ranging across all development sectors including Single Family & Multi-Family Residential, Hotel, Commercial, Business Park/Office, Work-Live, and amenities including a 6-acre park and 8 acres of additional trails and parks. The approved Specific Plan community design focused on a self-sustaining mixed-use community where residents and employees can live, work, and shop in the same urban village within a pedestrian oriented neighborhood. The project will provide a variety of housing choices that give an opportunity for residents with diverse income levels to live and work in the same community. PALM DESERT (AREA) is known as one of the most affluent areas in Riverside County with an average household income of $103,759. Some of America’s finest golf courses, most exclusive residential communities, and international events are hosted by the city. The city of Palm Desert is located in the center of the Coachella Valley and spans from I-10 to south of Hwy 111. The city is also well known for its several college campuses. With a population of 52,500 and a lack of future lot supply, Palm Desert has tremendous growing demand from new homebuyers and vacation rental home investors. The City of Palm Desert promises the seasoned traveler and the discriminating resident the perfect combination of value-priced and luxury homes, and access to some of the area’s best amenities right in the Heart of the Palm Springs Valley. COACHELLA VALLEY TOURISM & HOSPITALITY QUICK FACTS 2017 Visitors 13.6 Million Spent $5.5 Billion Economic Impact $7 Billion (9% Increase Over Year 2015) Industry Jobs 51,866 (1,200 Increase Since 2010) 2017 Y-O-Y Hotel Occupancy 2.7% 2017 Y-O-Y Avg. Daily Rate: 3.1% COACHELLA VALLEY MULTI-FAMILY QUICK FACTS Vacancy Rate 2.6% (lowest vacancy rate of any submarket in IE) Vacancy Y-O-Y -100 Basis Point Change (largest decrease of any submarket in IE) RENTS Y-O-Y: 3.7% Avg. Increase INLAND EMPIRE EAST RETAIL QUICK FACTS Vacancy Rate 8.9% Vacancy Y-O-Y -10 Basis Point Change RENTS Y-O-Y: 3.3% Avg. Increase COACHELLA VALLEY OFFICE: 777 E Tahquitz Canyon Way, Suite 200, Palm Springs, CA 92262 | T (760) 969-7357 REGIONAL MAP CV BASE MAP MIRASERA EXAMPLE PUBLIC SPACES & PLAZAS APPROVED MIXED USE SPECIFIC PLAN IN CENTER OF COACHELLA VALLEY 3,250 LINEAR FEET ALONG I-10 IRREPLACABLE REAL ESTATE | ADJACENT TO BUILT OUT DEVELOPMENTS RESIDENTIAL, MULTI-FAMILY, RETAIL, OFFICE, BUSINESS PARK, HOTEL, (& POTENTIAL CANNABIS) USES THE HOFFMAN COMPANY EXCLUSIVE OFFERING PRICED AT ONLY $89K/ACRE! ONLY $2/SQ. FT. MIRASERA MIXED USE SPECIFIC PLAN (APPROVED) | 190± ACRES ON I-10 1,756 RESIDENTIAL UNITS | 200 HOTEL UNITS | 187,300 SQ. FT. RETAIL | 228,700 SQ. FT. BUSINESS PARK PALM DESERT AREA, CA | COUNTY OF RIVERSIDE | COACHELLA VALLEY VARNER RD 10 20 DU/AC 14.4 AC 288 DU 20 DU/AC 13.9 AC 278 DU 12 DU/AC 12.9 AC 155 DU 12 DU/AC 9.2 AC 110 DU Retail 17.2 AC Office 7.1 AC Park Office 6.8 AC Hotel 3.1 AC Mixed Use 3.2 Ac Mixed Use 5.6 Ac Office 3.6 AC 25 DU/AC 9.3 AC 232 DU 25 DU/AC 16.0 AC 400 DU 20 DU/AC 7.6 AC 152 DU DESERT BUSINESS PARK AVENUE 38 3,250 LINEAR FEET | 100,000+ ADT VEHICLES PALM SPRINGS PALM DESERT LOS ANGELES PALM SPRINGS PALM DESERT LA QUINTA WASHINGTON ST. INTERCHANGE SUBJECT SITE PHOENIX COUNTY OF RIVERSIDE SUBJECT SITE
Transcript of MIRASERA MIXED USE SPECIFIC PLAN (APPROVED) | 190± …€¦ · 40421.04.000 SPECIFIC PLAN THE...
MIRASERA & PALM DESERT AREA OVERVIEW
BROKER CONTACT
Erik ChristiansonCA DRE #01475105C (949) 910-7337 | T (949) [email protected]
PROPERTY DETAILS
LOCATION Un-Incorporated Palm Desert, California REGION Coachella Valley, Riverside CountyINTERSECTION North of Varner Road/I-10, West of Washington Street, South of Ave. 38 AREALANDMARKS Del Web Sun City, Stater Brothers, Adjacent “Desert Business Park”PROPERTYSIZE 190± Acres (3,250 Length of Southern Border Along I-10)ZONING/GP S-P (Specific Plan); C-P-S (Scenic Highway Commercial) USES 95.2 Acres Residential (1,756 Units), 17.5 Acres Business Park (228,700 Sq. Ft.), 17.2 Acres Retail (187,300 Sq. Ft.), 3.1 Acres Hotel (200 Units), 6 Acre Park, 8 Acres Other Parks & Trails, 31.1 Roads & OS, 14.8 Acres Drainage ChannelENTITLEMENTS Approved Mirasera Specific Plan #338 | Approved EIR #486 | Approved TTM #35058 SITECONDITION On-Sites Unimproved. Adjacent to major arterial roads & infrastructure. OFFERDUEDATE Offers to Be Considered as Submitted
HOME PRICE LAST 12 MONTHS (RE-SALE + NEW) : 4.3%
Sources: Market Watch LLC, DataQuick, CA Board of Equalization
AVG. HOUSEHOLD INCOME: $130,954
PALM DESERT QUICK FAC TS
“THE MIRASERA SPECIFIC PLAN” generally located north of I-10 and west of the Washington Street interchange, is one of the last vacant land properties along I-10 (with an impressive 3,250 linear ft. along I-10) in the center of the growing Coachella Valley region and includes uses ranging across all development sectors including Single Family & Multi-Family Residential, Hotel, Commercial, Business Park/Office, Work-Live, and amenities including a 6-acre park and 8 acres of additional trails and parks. The approved Specific Plan community design focused on a self-sustaining mixed-use community where residents and employees can live, work, and shop in the same urban village within a pedestrian oriented neighborhood. The project will provide a variety of housing choices that give an opportunity for residents with diverse income levels to live and work in the same community.
PALM DESERT (AREA) is known as one of the most affluent areas in Riverside County with an average household income of $103,759. Some of America’s finest golf courses, most exclusive residential communities, and international events are hosted by the city. The city of Palm Desert is located in the center of the Coachella Valley and spans from I-10 to south of Hwy 111. The city is also well known for its several college campuses. With a population of 52,500 and a lack of future lot supply, Palm Desert has tremendous growing demand from new homebuyers and vacation rental home investors. The City of Palm Desert promises the seasoned traveler and the discriminating resident the perfect combination of value-priced and luxury homes, and access to some of the area’s best amenities right in the Heart of the Palm Springs Valley.
COAC H E L L A VA L L E Y TO U R I S M & H O S P I TA L I T Y Q U I C K FAC TS
2017 Visitors 13.6 Million Spent $5.5 BillionEconomic Impact $7 Billion (9% Increase Over Year 2015)Industry Jobs 51,866 (1,200 Increase Since 2010)
2017 Y-O-Y Hotel Occupancy2.7%
2017 Y-O-Y Avg. Daily Rate: 3.1%
COAC H E L L A VA L L E YM U LT I - FA M I LY Q U I C K FAC TS
Vacancy Rate2.6%
(lowest vacancy rate of any submarket in IE)
Vacancy Y-O-Y-100 Basis
Point Change (largest decrease of any
submarket in IE)
RENTS Y-O-Y: 3.7% Avg. Increase
I N L A N D E M P I R E E A S T R E TA I L Q U I C K FAC TS
Vacancy Rate8.9%
Vacancy Y-O-Y-10 Basis
Point Change
RENTS Y-O-Y: 3.3% Avg. Increase
COACHELLA VALLEY OFFICE: 777 E Tahquitz Canyon Way, Suite 200, Palm Springs, CA 92262 | T (760) 969-7357
REGIONALMAP CVBASEMAP MIRASERAEXAMPLEPUBLICSPACES&PLAZAS
APPROVED MIXED USE SPECIFIC PLAN IN CENTER OF COACHELLA VALLEY
3,250 LINEAR FEET ALONG I-10 IRREPLACABLE REAL ESTATE | ADJACENT TO BUILT OUT DEVELOPMENTS
RESIDENTIAL, MULTI-FAMILY, RETAIL, OFFICE, BUSINESS PARK, HOTEL, (& POTENTIAL CANNABIS) USES
T H E H O F F M A N C O M P A N Y E X C L U S I V E O F F E R I N G
PRICED AT ONLY
$89K/ACRE!ONLY$2/SQ.FT.
MIRASERA MIXED USE SPECIFIC PLAN (APPROVED) | 190± ACRES ON I-101,756 RESIDENTIAL UNITS | 200 HOTEL UNITS | 187,300 SQ. FT. RETAIL | 228,700 SQ. FT. BUSINESS PARK
PALM DESERT AREA, CA | COUNTY OF RIVERSIDE | COACHELLA VALLEY
VARNER RD
10
20 DU/AC14.4 AC288 DU
20 DU/AC13.9 AC278 DU
12 DU/AC12.9 AC155 DU
12 DU/AC9.2 AC
110 DU
Retail17.2 AC
Office7.1 AC
Park
Office6.8 ACHotel
3.1 ACMixed
Use3.2 Ac
MixedUse
5.6 Ac
Office3.6 AC
25 DU/AC9.3 AC
232 DU
25 DU/AC16.0 AC400 DU
20 DU/AC7.6 AC
152 DU
DESERTBUSINESS
PARK
AVENUE 38
3,250 LINEAR FEET | 100,000+ ADT VEHICLES
PALM SPRINGS
PALM DESERT
LOSANGELES
PALM SPRINGS
PALM DESERT
LA QUINTA
WASHINGTON ST.
INTERCHANGE
SUBJECT SITE
PHOENIX
C O U N T Y O F R I V E R S I D E
SUBJECT SITE
