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REDEVELOPMENT OPPORTUNITY PALM CANYON amado & PALM SPRINGS, CA OFFERING MEMORANDUM
REDEVELOPMENT OPPORTUNITY
P A L M CANYON
amado&
PALM SPRINGS, CAOFFERING MEMORANDUM
Palm Springs, CARare Redevelopment OpportunityThe secret’s out….Palm Springs is back in all her colorful, diverse glory.
Palm Springs is welcoming visitors to its new dynamic downtown with stylish hotels, new fashionable restaurants, new chic shops and boutiques, new fun entertainment venues as well as welcoming public spaces for gathering, celebrating and relaxing.
TABLE OFCONTENTS
Executive Summary
Site Overview
Location Overview
Market Overview
The Concept
01
02
03
04
05
This information was obtained from sources deemed reliable, however Gilbert Avriette Real Estate or its Affiliates makes no representation or warranty regarding its accuracy. Interested parties should consult with their legal and accounting advisors and conduct their own due diligence investigation prior to any purchase.
ADAM GILBERT, ESQ. | BROKER
Direct: (760) 408-8874
CalBRE: 01914157
ERIC AVRIETTE | REALTOR
Direct (760) 835-9935
CalBRE: 01939575
Executive Summary 03
Gilbert Avriette invites you to review five prime parcels of land located on Palm Canyon and Amado in the heart of Downtown Palm Springs.
The parcels comprise a total of 50,371 sq.ft. and the asking price is $6,000,000.
These parcels are located just North of the revitalized Downtown Palm Springs.
It is zoned commercial in the Central Business District zoning designation allowing hotel, retail, restaurant and many other uses. The Highway 111 corridor is one of the busiest in the Coachella Valley with many new projects currently proposed and under construction.
Executive SummaryThe Offering
Site Overview04
Site OverviewPalm Canyon & Amado
EAST VIEW
WEST VIEW
SITE: 50,371 SF ON 5 TOTAL LOTSZONING: CBD (CENTRAL BUSINESS DISTRICT)APN: 513-081-010; 011; 16; 18; 19ASKING: $6,000,000
Palm SpringsAerial Looking South
Site Overview 05
Site Overview06
Location Overview 07
APARTMENT & GROCERY2022
CITY EVENT SPACE2018-2019
DOWNTOWN PHASE 12017
AGUA CALIENTE SPA/GYM & CULTURAL
CENTER2019
DOWNTOWN PHASE 12017DOWNTOWN PHASE 1
2018
REVITILIZATION TOWN & COUNTRY 2020-2024
BOUTIQUE HOTEL2025
AGUA CALIENTE HOTEL AND CASINO EXPANSION
TBA
P A L M CANYON
amado&
Location OverviewDowntown Palm Springs
amado
Location Overview08
AGUA CALIENTE HOTEL AND CASINO EXPANSION
TBA
AGUA CALIENTE SPA/GYM & CULTURAL
CENTER2019
DOWNTOWN REDEVELOPMENT
2017-19
P A L M CANYON
amado&
P R O X I M I T Y T O D O W N T O W N
Location OverviewPalm Canyon & Amado
Market Overview 09
“Palm Springs Named ‘Sexiest’ U.S. City in 2017”
W H Y P A L M S P R I N G S ?
“Palm Springs continues its legacy as a playground for trendsetters and celebs, with a revival for the young crowd discovering the authentic history of Mid-Century modern design, but with an updated vibe that is playful, colorful and undeniably sexy.”
Palm Springs Bureau of Tourism
“People were amused by our decision: Palm Springs is forward-looking, futuristic, modernist, cutting edge and audacious. ”
Louis Vuitton
Victoria Secret
Market Overview10
Coachella Valley Music & Arts Festival, Midcentury Modernism and 300 days of sunshine are symbiotically spurring Palm Springs’ growth bringing annually over $6.4 billion in tourist related spending to the area
All time high hotel occupancies, tourist and restaurant revenues are at 40 year record highs and home sales continue to report all time highs almost monthly
$6 BILLION TOURISM INDUSTRY
Palm Springs is listed as one of "The top 10 Hippest Mid-Sized Cities in America," by gogobot.com. “While it’s still Baby Boomer-friendly, it’s now also foodie-friendly, microbrew-friendly, millennial-friendly and LGBT-friendly.”
“Overnight the town of Frank Sinatra, Bob Hope, and the Gabor Sisters has become the town of Leonardo DiCaprio and other Celebrities”
Market Overview 11
New Hotels, Restaurants, & Infrastructure
$700 MILLION INVESTED FROM
2011-2016
Market Overview12
Palm SpringsTHE MARKET
Bolstered by a surge in tourism, Palm Springs is now a year-round destination. A wave of new investments in hotel renova-tions and new restaurants in excess of $700 million over recent years has drawn a new generation of visitors to the area with millennials, who embrace the heat during summer months, sup-plementing the traditional tourist demographic.
Palm Springs has particularly become popular for young trend-setters (brand ambassadors/ influencers) and hipsters attracted by the mid-century modern architecture and eclectic styles that permeate the city. Combined with its vibrant and growing gay community, this influx of trendsetters has helped Palm Springs revive its legacy as Hollywoods’s playground.
this influx of trendsetters has helped Palm Springs revive its legacy as Hollywoods’s playground.”
ANNUAL EVENTSGREATER PALM SPRINGS
Market Overview 13
Market Overview14
Coachella ValleyThe Market
Seven communities, with diverse demographics, across all income brackets within a span of 30 square miles
The Concept 15
CONCEPT 1Property Use
The Concept16
Seconds from the Heart of Downtown Palm SpringsAn Urban Oasis
Located close to all Palm Springs amenities, retail shops, golf courses, and restaurants, surrounded by lush vegetation and offering an intimate environment conducive to relaxation and sport. Wake up to the smell of freshly-baked croissants and wind down the day with a gourmet dinner by the pool. a social hub In the spirit of Zinque coffee and wine bars, a place to meet, collaborate, socialize, play, drink, eat...for all occasions.
Zinque HotelChic Modern Design
Exceptional Bespoke Service
Inventive European-Inspired Culinary Program
The Concept 17
ZINQUE HOTELRENDERING CONCEPT
The Concept18
73 ROOM BOUTIQUE HOTELSPA | RESTAURANT | BOUTIQUE
The Concept 19
CONCEPT 2Property Use
Images for Concept Only
The Concept20
Mixed Use Retail/Residential with Smaller Boutique HotelRetail Haven
Palm Springs is welcoming visitors to its new dynamic downtown withstylish hotels, new fashionable restaurants, new chic shops and boutiques,new fun entertainment venues as well as welcoming public spaces forgathering, celebrating and relaxing. With our warm days and balmynights, this complements the ambiance that is positively seductive. With360 days of sun-kissed weather and drop-dead gorgeous scenery, it’s nowonder Palm Springs is like no place else and a comeback as Hollywood’splayground with a growing nightlife, burgeoning art scene and edgy vibe.
The new retail expereince and downtown-loft like living is drawing trendsetters from Los Angeles and surrounding areas to frequent Palm Springs with many naming it thier second home.
Images for Concept Only
CONTACT US
ADAM GILBERT, ESQ. | BROKER
Direct: (760) 408-8874
CalBRE: 01914157
ERIC AVRIETTE | REALTOR
Direct (760) 835-9935
CalBRE: 01939575
P A L M CANYON
amado&
This information was obtained from sources deemed reliable, however Gilbert Avriette Real Estate or its Affiliates makes no representation or warranty regarding its accuracy. Interested parties should consult with their legal and accounting advisors and conduct their own due diligence investigation prior to any purchase.
