City of Ventura, Economic Base and Strategy, 2019-2020
For the City of San Buenaventura, we prepared an Economic Base Analysis and Strategy preceding the General Plan update. We provided a comprehensive economic framework to think through future development options across the office, industrial, retail and hospitality sectors based on our demand and growth projections. We conducted a detailed evaluation of industry clusters in the City and identified emerging cutting-edge technology activities while building upon Ventura’s core strengths. We evaluated land use opportunity sites by City economic sub-areas, and developed detailed SWOT analyses across sectors and sub-areas.
Desert Hot Springs GPU Economic Element, 2018
For MIG, Inc. on the Desert Hot Springs GPU, we prepared a retail taxable sales analysis, historic employment trends analysis and employment forecast study. The economic study presented taxable retail sales trends for the City as well as an historic employment trends analysis by major industry groupings and employment forecasts for the period 2016-2040 by major industry groupings all in comparison with other cities in the Coachella Valley.
City of Westlake Village. North Business Park Specific Plan Economic/Financial Analysis, 2019-21
On a project team with Civic Solutions, we prepared an economic analysis to understand the major economic and labor force trends in the City of Westlake Village and the surrounding market area. We conducted detailed pro-forma analysis of development alternatives, including residential and commercial uses . A revenue analysis projected the public revenue benefits from the selected land use alternatives. The specific plan was adopted in early. 2020 and we are currently working on implementation strategies including developing plan recovery fess and financing options for infrastructure improvement including benefit assessments, landscape and lighting district, and DIFs.
Cal Poly Pomona, Innovation Village Economic Benefits Analysis, 2012 & 2017
An update to the economic benefit analysis of the Pomona Cal Poly Innovation Village Business Park we conducted in 2012. We estimated the economic benefits of the project on the local and regional economy, the California State University, Pomona and on the City of Pomona. The 65-acre development is planned for new technology and incubator industries. It currently includes about 40 acres of existing development and 25 acres of vacant land for an estimated 400,000 additional square feet of development. Southern California Edison, one of Cal Poly’s key tenants in the development of Innovation Village, prepared an economic impact analysis of direct, indirect and induced impacts in collaboration with our study.
City of Huntington Beach GPU Economic Analysis, 2015 – 2017
On a project team with Michael Baker Intl. for the City of Huntington Beach’s General Plan Update, we prepared a market trends and conditions analysis that addressed the major forces that drive economic change in the community: 1) residential population and labor force growth; 2) overall economic trends that influence the future composition of jobs in Orange County; and 3) the market position of Huntington Beach to capture a competitive share of growing sectors – including new technologies – while maintaining strength in its existing key employment sectors. For the market analysis, we prepared a baseline target industry and demographic analysis on current and projected market conditions, and Huntington Beach’s competitive position in Orange County. The study looked at selected economic zones within the City that exhibited economic strength and job growth potential. It also defined criteria to provide benchmarks and economic indicators to evaluate future performance and success of the Economic Element.
LA Metro East San Fernando Valley (ESFV) Corridor Rapidway Economic / Fiscal Study, 2020
We prepared an update of our original study completed in July 2015 as a subconsultant to KOA Corporation working with the Los Angeles County Metropolitan Transportation Agency. An economic and fiscal analysis of the proposed Metro ESFV Corridor Rapidway alternatives was prepared. A property tax revenue impact analysis for the Corridor was also performed as well as estimating the construction employment impacts on the local economy.
City of Compton Transit Oriented Development (TOD) Specific Plan, 2020
As part of a project team with The Arroyo Group, we conducted a residential and non-residential market and development feasibility study and proforma analysis for selected prototypical land uses, including residential with cost-benefit analysis and capital facility implementation options in support of the TOD Specific Plan. We included a fiscal revenue cost-benefit analysis and capital facility implementation options in support of the TOD Specific Plan.
City of South Gate Tweedy Boulevard Specific Plan, 2019
In realizing the infrastructure, amenity and economic development components of the Tweedy Boulevard Specific Plan, SRHA developed an Implementation Strategy to guide City staff, property owners, developers and decision-makers. On a project team with The Arroyo Group, this included a capital improvement plan (CIP) to identify the range of infrastructure and amenity improvements benefiting the community, and analyzing the potential range of bond financing for an Enhanced Infrastructure Financing District (EIFD). Also analyzed was protential for a property-based business improvement district (PBID) for increased marketing and implementation of enhanced amenities and minor capital improvements. Economic development benefits were also projected, such as jobs and housing creation, increased public revenues, increased property tax increment and sales tax, plus the overall business revitalization of Tweedy Boulevard.
Willowbrook TOD Specific Plan Economic Development Strategy, 2017
On a project team with The Arroyo Group for the County of Los Angeles Department of Regional Planning, SRHA prepared an economic development strategy plan that identified potential financial approaches to provide the necessary public infrastructure including taxes and fees. SRHA identified financing opportunities such as, potential Metro grants, Federal Economic Development Administration and State monies for TOD projects, potential other grants and loans. SRHA analyzed specific sites within the community area and their suitability for TOD-compatible revitalization. This was adopted by the Board of Supervisors in 2017.
Downtown Inglewood Transit-Oriented Development Economic Study, 2015-Present
On a project team with The Arroyo Group, SRHA prepared a market evaluation in support of a transit oriented development (TOD) plan in downtown Inglewood that would revitalize the historic core of the City; SRHA also prepared a financing strategy that included the analysis of an Enhanced Infrastructure Financing District that was subsequently adopted. The study analyzed the demand for retail, restaurant, professional and medical offices. Mixed-use residential, retail and office uses were studied, as well as entertainment uses through the possibility of a refurbished, historic Fox Theatre. Additionally, the financial strategy examined a range of standard financial practices, as well as newer, innovative financial techniques including an enhanced infrastructure financing district.
Chino Sphere of Influence (SOI) Annexation: Economic Analysis, 2020
We developed an economic analysis, which included a service plan and fiscal analysis, of different possible annexation alternatives of the SOI, including: 1) a status-quo (“do nothing”) alternative and allow annexations on a piecemeal basis as they currently occur; 2) annexation of all the “county island” areas (as determined by LAFCO), with future annexation of other territory; 3) a phased or partial annexation alternative; and 4) a complete SOI annexation alternative.
Rancho Cucamonga Etiwanda Heights Neighborhood Conservation Plan (ENHCP) EIR, 2019
For the City of Rancho Cucamonga, we prepared a fiscal study for the ENHCP City sphere of influence. We analyzed the various revenue sources and city services for the SOI land uses and prepared a market analysis of retail development. The fiscal analysis reflected potential changes in retail and industrial zoning that would influence retail sales and job projections. The plan also included residential policy assumptions influencing housing growth projections with a range of densities and prices.
Update to the Grapevine Planning Area Specific Plan Fiscal and Economic Analysis, 2019
For the Tejon Ranch Company Community Development and Resource Planning Department, we prepared an update of our prior fiscal and economic analysis of the Grapevine Planning Area based on the latest Kern County Budget including revenue and cost factors. We also finalized all the relevant development, market and fiscal factors, which entailed detailed cross-checks of results and assumptions.
El Segundo Creative Pacific Coast Commons Economic and Fiscal Study, 2020
We prepared a net economic benefit analysis of the proposed Pacific Coast Commons project to the City of El Segundo. We estimated the net economic and fiscal benefits accruing to the City from the project and contrasted these impacts against the current GP land use designated uses.
Montebello Hills SP, City of Montebello Hills Fiscal Impact Analysis Update, 2019
For Toll Brothers, Inc. using the fiscal methodology that was developed in December 12, 2014, we updated the analysis that covered the land use development, pricing and phasing assumptions and the General Fund recurring revenues and costs from the project phased over time and at buildout. Using the original fiscal methodology developed for the proposed Montebello Hills residential development, we also prepared the cost estimate of Development Agreement requirement to phase in police personnel and compared the DA police services estimates with the overall net project fiscal balance. We provided the cost estimate of DA requirement to phase in police personnel with each increment of 200 units.
City of Santa Paula Fiscal Analysis of East Area 2 upon Annexation to the City of Santa Paula, 2015
We projected the fiscal impacts of the existing development in East Area 2 upon annexation to the City of Santa Paula for the Annexation Area at buildout of two proposed development alternatives and. Fiscal impacts were projected separately for the entire Santa Paula Gateway Specific Plan, including a small portion that was in the incorporated City, after buildout of two future land use alternatives and assuming annexation to the City.
Financial Feasibility Peer Review for Proposed Multi-Family/Retail Development, Hollywood
We prepared an independent peer review of the financial feasibility of a proposed multi-family/retail mixed-use development project in the City of Los Angeles at 4900 Hollywood Boulevard. We reviewed the pro forma analysis that was provided by a consultant to the developer, and reviewed the reasonableness of their market and demographic assumptions. The issue was how much additional market rate housing would be required for the developer to make a reasonable profit while providing a specified amount of subsidized affordable housing.
City of Laguna Beach Downtown Specific Plan Retail Analysis, 2019-2020
We prepared a market assessment of existing retail conditions to assist the City with its Downtown commercial area to assist in changing retailing conditions, particularly when exiting tenant exit the market area and new replacement tenants are sought. Our market assessment of existing retail conditions included developing an understanding of the inventory of current retail dining and service tenants and assessed the unique characteristics of various businesses to identify and assess the consumer market and viability for both. We also discussed how current internet trends might affect the future mix of downtown businesses.
The Villages at Loomis Retail Impact Analysis, 2019
We prepared a retail impact analysis for the proposed development at the Villages of at Loomis. We evaluated the retail impact of the proposed 152,000 sq. ft. Costco Center at Sierra College Boulevard and Brace Road. There were several centers that had opened in the greater market area, such as the Rocklin Crossings and the Rocklin Commons at the intersection of Interstate 80 and Sierra College Boulevard. We updated the effect of these centers – as well as any other identified additions to the retail supply. Other household demographic characteristics were presented, as household size, education, labor force status and racial/ethnicity profile. We also estimated the annual spending power of both on-site employment and employment within the market area.
El Monte Gateway Specific Plan Market Analysis, 2017 – 2018
This study evaluated the types of retail and ancillary tenants that were proposed for the Gateway Specific Plan at the intersection of Santa Anita Avenue and the San Bernardino Freeway. The retail market analysis included: 1) Quantification of the sales potential for key categories within the retail center; 2) how much retail space the community and surrounding market area could support; and, 3) Identification of the optimum retail, dining and entertainment mix in terms of square footage and types of tenants. We also provided an inventory of existing and planned competitive centers in the market area, and characterized key features of those centers compared to the subject site.
City of Carson District at South Bay Urban Decay Retail Impact Analysis, 2017
On a project team with ESA│Southern California, we analyzed the amount of regional and local serving retail that is supportable under existing and future residential and employment growth conditions in and around Carson. We evaluated whether the new retail development would adversely impact competitive stores and lead to a substantial increase in retail vacancies. A key issue included the balance of supply and demand and the likely leakage from existing stores to retail stores of the project. We also evaluated the amount of retail space that was supportable under existing and future growth conditions for general merchandise, big box and value oriented stores, outlet mall stores, and neighborhood retail.
City of Rancho Santa Margarita Retail Evaluation, 2017
On a project team with Michael Baker International, we assisted in the retail evaluation of the General Plan update for the City of Rancho Santa Margarita. This involved the analysis of an existing retail report that addressed strengths and weaknesses of the City’s current retail condition and recommendations for the types and locations of where future opportunities for retail and dining tenants could be sited in the City’s market area. The existing report, including City comments, analyzed the retail demand in the City from the competitive trade area, the existing and future trade area households and population, household income and retail expenditures, and how much was estimated to be captured within the City Rancho Santa Margarita.
Urban Decay Retail Impact Analysis, City of Bakersfield, 2018
The City of Bakersfield required an Urban Decay Study to evaluate the retail impacts upon surrounding commercial uses from the proposed retail center at the intersection of Hosking Avenue and Highway 99. Our study inventoried other competitive centers in the market area and their respective vacancies; we also identified proposed retail projects and those under-construction. We then evaluated the level of retail development that was supportable under existing and future residential and employment growth conditions, and whether the new retail development would adversely impact competitive stores and lead to long-term retail vacancies in the market area.
City of Walnut Commercial Retail Strategy, General Plan Update, 2016
On a project team with MIG, we analyzed the retail capture potential of existing and future households, businesses and visitors in the market area and developed a retail potential analysis that capitalizes on the retail development opportunities in Walnut. We developed a detailed retail tenant inventory of each of the shopping centers in Walnut. We also estimated household expenditure growth potential to compare this with the retail performance of existing shopping centers in Walnut to analyze retail leakages. Our recommended retail development strategy has been presented as part of the City’s General Plan update.
Downtown Hemet Revitalization and Sustainability Plan, 2015
On a project team with The Arroyo Group, we prepared a market analysis and development forecasts for the Downtown Specific Plan area of Hemet. Because of the planned extension of rail transit to downtown Hemet in western Riverside County, the city of Hemet wanted to create a revitalization plan that both anticipated and stimulated economic development. The market analysis covered a range of potential land uses in the downtown area including: expansion of the existing retail and restaurant businesses, additional medical offices driven by the expansion of a nearby hospital complex, and the attraction of future professional offices. Also, higher density ownership and rental housing and mixed-use residential, retail and office uses were studied that would likely locate around a future rail station.
City of Malibu Retail Diversification Ordinance, 2013
For a consortium of retail property owners in Malibu, in association with Stoffel & Associates, we prepared a retail impact analysis of a proposed retail diversification ordinance being considered by the Malibu City Council. This ordinance was designed to place limits on the ability of retail center owners to replace tenants ceasing their operations that did not meet certain strict limits on the amount of “formula” owned stores versus “locally” owned stores using a square footage based method. We showed the retail and economic impact of this proposed ordinance on the retail market and the ability of the retail center owners to maintain a competitive mix of stores. Our analysis was used in a law suit by the retail property owners to contest the formula. The law suit resulted in the City staff and officials preparing a revised ordinance that addressed these retail impact issues in a manner that was eventually acceptable to both the City of Malibu and the retail property owners.
LA Metro East San Fernando Valley (ESFV) Corridor Rapidway Economic / Fiscal Study, 2020
We prepared an update of our original study completed in July 2015 as a subconsultant to KOA Corporation working with the Los Angeles County Metropolitan Transportation Agency. An economic and fiscal analysis of the proposed Metro ESFV Corridor Rapidway alternatives was prepared. A property tax revenue impact analysis for the Corridor was also performed as well as estimating the construction employment impacts on the local economy.
City of Compton Transit Oriented Development (TOD) Specific Plan, 2020
As part of a project team with The Arroyo Group, we conducted a residential and non-residential market and development feasibility study and proforma analysis for selected prototypical land uses, including residential with cost-benefit analysis and capital facility implementation options in support of the TOD Specific Plan. We included a fiscal revenue cost-benefit analysis and capital facility implementation options in support of the TOD Specific Plan.
City of South Gate Tweedy Boulevard Specific Plan, 2019
In realizing the infrastructure, amenity and economic development components of the Tweedy Boulevard Specific Plan, SRHA developed an Implementation Strategy to guide City staff, property owners, developers and decision-makers. On a project team with The Arroyo Group, this included a capital improvement plan (CIP) to identify the range of infrastructure and amenity improvements benefiting the community, and analyzing the potential range of bond financing for an Enhanced Infrastructure Financing District (EIFD). Also analyzed was protential for a property-based business improvement district (PBID) for increased marketing and implementation of enhanced amenities and minor capital improvements. Economic development benefits were also projected, such as jobs and housing creation, increased public revenues, increased property tax increment and sales tax, plus the overall business revitalization of Tweedy Boulevard.
Willowbrook TOD Specific Plan Economic Development Strategy, 2017
On a project team with The Arroyo Group for the County of Los Angeles Department of Regional Planning, SRHA prepared an economic development strategy plan that identified potential financial approaches to provide the necessary public infrastructure including taxes and fees. SRHA identified financing opportunities such as, potential Metro grants, Federal Economic Development Administration and State monies for TOD projects, potential other grants and loans. SRHA analyzed specific sites within the community area and their suitability for TOD-compatible revitalization. This was adopted by the Board of Supervisors in 2017.
Downtown Inglewood Transit-Oriented Development Economic Study, 2015-Present
On a project team with The Arroyo Group, SRHA prepared a market evaluation in support of a transit oriented development (TOD) plan in downtown Inglewood that would revitalize the historic core of the City; SRHA also prepared a financing strategy that included the analysis of an Enhanced Infrastructure Financing District that was subsequently adopted. The study analyzed the demand for retail, restaurant, professional and medical offices. Mixed-use residential, retail and office uses were studied, as well as entertainment uses through the possibility of a refurbished, historic Fox Theatre. Additionally, the financial strategy examined a range of standard financial practices, as well as newer, innovative financial techniques including an enhanced infrastructure financing district.