Report: Compass Blueprint Market Feasibility Analysis in the South Bay (Aug. 2008)
Over the past three years, the South Bay Cities Council of Governments (SBCCOG) has been conducting research into the transportation performance of its existing urban form, especially typical suburban corridors, and compact mixed-use centers consistent with the Compass Blueprint The research has revealed that auto dependence in the study areas is high and people will continue to be auto users – especially in the context of the corridors. The research also revealed that residential density has to be supplemented by a diverse mix of functionality accommodating jobs and services in order to achieve desired transportation performance levels.
This report, Compass Blueprint Market Feasibility Analysis in the South Bay, conducted by ERA focuses on the specific economic issues that could affect transportation performance and that surround the potential feasibility of future development strategies. In this report, ERA examined the base economic conditions of four study areas (two centers: Riviera Village and Downtown Torrance and two corridors: Artesia Boulevard and Hawthorne Boulevard).
ERA’s base analysis focuses on retail performance and market dynamics within each of the study areas in the context of available markets and potential retail support from within a walkable neighborhood. They also conducted a market overview to establish existing and future potential demand for development opportunities in the South Bay. Based on this analysis, a series of development alternatives was established to illustrate the financial feasibility of alternative single use, horizontal mixed use, and vertical mixed use development in the South Bay. Finally, ERA examined the likely fiscal implications of the alternative development options based on contemporary budget circumstances of the cities of Hawthorne, Redondo Beach, and Torrance.
Read the report to see their findings. The report is broken down into the following five sections:
- Section A – Executive Summary and Introduction
- Section B – Base Economic Analysis
- Section C – Future Market Demand and Development Program
- Section D – Financial and Fiscal Analysis