springs veto purchase new home product with modern architecture. to help continue this momentous...
TRANSCRIPT
PROPERT Y OVERVIEW
“Mesquite Ridge @ Tahquitz Canyon” is set into the foothills of Mount San Jacinto and will give a future buyer the ability to blend an upscale residential community with the natural beauty of the San Jacinto Mountain Range. Located within walking distance of Downtown Palm Springs’ vibrant night life and neighborhood conveniences, this project will be popular among both full time residents and those looking for an intimate weekend retreat. The property is currently zoned high density residential which allows a variety of uses. A PDD or GP amendment would likely be needed for a Single Family Detached Plan. “Mesquite Ridge” offers a rare ability to develop an exclusive private mountain-side retreat on supply constrained fee land with highly desirable walking trails at Tahquitz Canyon nearby.
W MESQUITE AVE
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
• RARE VACANT FEE LAND NEAR DOWNTOWN PALM SPRINGS• LOWEST AVAILABLE LAND PRICE PER DEVELOPABLE ACRE IN SOUTHERN PALM SPRINGS!• IRREPLACEABLE DEVELOPMENT OPPORTUNITY NEAR TAHQUITZ CANYON TRAILS
Conceptual Home Elevation for Single Family Detached
Conceptual Street View for Single Family Detached
Photo from Mesquite Avenue
COACHELLA VALLEY OFFICE: 777 E Tahquitz Canyon Way, Suite 200, Palm Springs, CA 92262 | T 760.969.7357
BROKER CONTAC T
Erik Christianson
CA BRE #01475105
T 949.705.0920 | C 949.910.7337
PROPERT Y DETAILS
PALM SPRINGS OVERVIEW
The City of Palm Springs has recently become one of the strongest performing sub-markets in the Inland Empire with regards to home buyer demand, new home price appreciation, and record setting price per square foot numbers. Palm Springs is populated by alternative lifestyle locals, coastal 2nd-home weekenders, seniors, international based snowbirds, and has been targeted more than ever before as the new trendsetting place for homebuyers to purchase new home product with modern architecture. To help continue this momentous resurgence occurring now in Palm Springs, $140-million in new funding for Palm Springs was recently backed by voter approved Measure J and has paved the way for a massive revitalization of downtown. These improvements most notably include a new destination mixed-used project underway called Downtown PS with a new hotel by Kimpton Hotels & Restaurants. This will be the first new 4-star hotel built from the ground up in Palm Springs in 20 years. Additionally the 160-room Hard Rock Hotel recently opened at the former Hotel Zoso site.
MARKET Coachella Valley
LOCATION Palm Springs, California
INTERSECTION South side of Mesquite Avenue, west of Belardo Road
AREA LANDMARKS Tahquitz Canyon Trails, Downtown Palm Springs, Indian Canyon Golf Resort
PROPERTY SIZE 29.6± Gross Acres (5.5± Developable Acres). Fee Land.
LOT COUNT 30-50± Units For SFD or Paired | 90-100+ Units Potential For MF, Hospitality,
or Assisted Living
LOT SIZE Potential Lot Size Under the Single Family or Paired Unit Plan (3,000 to
4,500± sq. ft.)*
ENTITLEMENTS Previously Approved for 90 Condo Units. Currently Unentitled.
POTENTIAL USES Single Family, Townhomes, Multi-Family, Assisted Living, Hospitality,
Timeshare*
ZONING R-3 High Density Residential (up to 30 DU/ACRE)
SITE CONDITION Un-improved. Mesquite Avenue built in front of property.
OFFER DEADLINE Offers to be considered as submitted.
OFFERING MEMORANDUM Request from Broker*B u y e r t o v e r i f y
Home Price Last 12 Months (re-sale + new) : 6.9%US 2014-2015 TopVacation Home Purchases: #11
Palm Springs
S o u r c e s : US C e n s u s B u r e a u, N A R , D a t a q u i c k
Year Over Year # of Home Sales: 13.3%
mesquite ridge @ tahquitz canyon | palm springs, ca30 – 50± POTENTIAL SINGLE FAMILY DETACHED OR PAIRED HOMES | 5.5± GROSS DEVELOPABLE FEE LAND ACRES
OTHER POTENTIAL USES: MULTI-FAMILY OR SENIOR ASSISTED/LIVING (ZONED HIGH DENSIT Y RESIDENTIAL)
PALM SPRINGS QUICK FACTS
Near Comparable Dakota Project (Example Product) New Construction of Amenities in Downtown Palm Springs
DOWNTOWN
PALM SPRINGS
TAQUITZ CANYON TRAILS
SOLD OUT 2017
MODERN PRODUCT$700K-$945K ($450-$500/SQ. FT.)
JUST OPENED
Disclaimer: All site plans and development renderings are conceptual only and should not be solely relied upon.
PRICE REDUCED
$3,500,000ONLY $1,950,000!