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NEIGHBORHOOD CONTEXT

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NEARBY LUXURY NEIGHBORHOOD DEVELOPMENTS:

UNDERSTAND YOUR CUSTOMER DEMOGRAPHIC

 

East Sunny Dunes Road has been emerging as a stylish destination in recent years (bagel bakery & coffee shop, Pilates studio, florist, gifts, art galleries, antique showrooms, nightlife and more), and one may anticipate further upward trends in value and greater appeal to first class commercial tenants, due to a highly desirable customer demographic coming on scene now.

 

Several factors significantly contribute to the neighborhood’s rising value: two new exclusive communities have been built within several hundred yards of the site (Cody Place and Élan), an upscale new commercial corner is pre-leasing (Cody Place Commercial, featuring restaurants), an upscale historic neighborhood on the opposite end of the block (Warm Sands), and the vibrant Sunny Dunes commercial zone itself. It is also an architecturally significant, creative sector not far from the south end of the downtown core, and can be marketed as a destination, similar to the "Uptown Design District" and other Palm Springs commercial destinations.

 

Details:

Cody Place, S. Palm Canyon Drive & Cameron Center Drive

Developer: Toll Brothers

Home count: 102 Luxury 2 and 3 story town homes

Priced from $910k - $1.46m

Cody Place is an exclusive gated luxury community located in the prime Downtown Palm Springs area, featuring 2-3-story homes designs from 1,840 -3,269 S.F., 2-4 beds, rooftop decks, attached garages, and private courtyards.”

 

Cody Place Commercial, S. Palm Canyon Drive & Mesquite Drive

Developer: Olson Trust

12,300 SF RETAIL CORNER

4 Restaurants and 3 Food+Retail

Premium lease rates at Cody Place Commercial may be expected to raise the median for all immediate-neighborhood commercial comparables.

 

Elán, Obsidian Loop betw. S. Palm Canyon Dr. & S. Belardo Rd.

Developer: Great Western Industries

Home Count: 81 units:

56 single family homes from $1.293m - $1.479m

25 townhomes from low $1,000,000’s

One and two-story detached homes and two-story townhomes designed by the award-winning architectural firm, Hannouche Architects.”

Warm Sands Neighborhood

This neighborhood is among the most historic and diverse neighborhoods in Palm Springs. The neighborhood is approximately one-half square mile and contains historic Spanish-style houses from the 1920s and 30s, midcentury modern homes from the 50s and 60s, many luxury vacation resorts, and hotels with historical significance.  The median single home price is $1,573,801.

 

Sunny Dunes “CM” Commercial Manufacturing Zone

Zoned as “CM”, (Commercial and Light Manufacturing), the buzzy area has a healthy and varied commercial zone of thriving business activities appealing to desirable demographics from early to late hours.  Moreover, several buildings on the block were designed by several acclaimed architects of the mid-20th Century in this former enclave of architects, landscapers, and related building trades. 

 

City of Palm Springs Data Highlights

• Total visitors to the Coachella Valley [16.8 million annually]

• Airport Travelers [All time record of 3 million annually]

• Visitor Spending [$7.5 billion annually]

• Total Room Nights [1.4 million annually]

• Economic Impact from Tourism [$7.5 billion]

• Seasonal market with high visitation from November

   – April with a peak month of March.

• Coachella Valley Music & Arts Festival [750,000 attendees

   over 6 days]

• Palm Springs International Film Festival [135,000 attendees]

• BNP Paribas Open [475,372 attendees]

• Stagecoach Music Festival [255,000 attendees over 3 days]

• Palm Springs Modernism Week [150,000 attendees]

• Special events include well-known music and arts festivals, major     golf tournaments, film festivals and PRIDE events.

[source: CBRE Group, 2024]​

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