Redevelopment had a good year in 2005!! Our end of the year report reflected positive increases in several areas. The assessed property values for the Village Area were up by 3%, with a total value of $261,930,026 million. Sales tax revenue was up by 13% for the Village Redevelopment Area, and commercial vacancy rates remained low (less than 5%).
We also experienced a substantial increase in new development applications. In 2005, a total of 10 major redevelopment permit applications were submitted for review and processing. This compares to only one application submitted in the previous year.
Major redevelopment permit applications in 2005 include several new town home projects, a couple of office projects, and a new hotel on Carlsbad Boulevard. There has been an increase as well in the number of new shopping and dining opportunities in the Village. These new opportunities include Sonoma Valley Market, the Poached Pear, Le Muse and Las Olas Restaurant. It is all quite exciting for the Village Area!
The Redevelopment Agency is working on a couple of other exciting projects for the Village Area. These projects are scheduled to be completed in 2006 and include review of the development standards and completion of a retail analysis for the Village. The development standards review was initiated to determine if the standards are creating constraints to additional development in the Village Area. The retail analysis will determine the void that may exist in the Village Area between products and services provided and those desired/demanded by the consumers. The products of this analysis will include a Business Development Plan and a Promotions and Marketing Strategy for the Village.
The Ponto Beachfront Village Vision Plan was also completed in 2005. This is a proactive land use plan for a portion of the second redevelopment area known as the South Carlsbad Coastal Redevelopment Area. The City Council reviewed the Plan and initiated the Environmental Impact Report (EIR) process. The EIR will be complete and returned to the City Council in early 2007 for further review.
Looking forward to a prosperous 2006!
If you have any questions regarding the information shared above or any of the redevelopment projects currently underway, please contact Debbie Fountain, Housing and Redevelopment Director, or Cliff Jones, Redevelopment Planner, at (760) 434-2815.
We also experienced a substantial increase in new development applications. In 2005, a total of 10 major redevelopment permit applications were submitted for review and processing. This compares to only one application submitted in the previous year.
Major redevelopment permit applications in 2005 include several new town home projects, a couple of office projects, and a new hotel on Carlsbad Boulevard. There has been an increase as well in the number of new shopping and dining opportunities in the Village. These new opportunities include Sonoma Valley Market, the Poached Pear, Le Muse and Las Olas Restaurant. It is all quite exciting for the Village Area!
The Redevelopment Agency is working on a couple of other exciting projects for the Village Area. These projects are scheduled to be completed in 2006 and include review of the development standards and completion of a retail analysis for the Village. The development standards review was initiated to determine if the standards are creating constraints to additional development in the Village Area. The retail analysis will determine the void that may exist in the Village Area between products and services provided and those desired/demanded by the consumers. The products of this analysis will include a Business Development Plan and a Promotions and Marketing Strategy for the Village.
The Ponto Beachfront Village Vision Plan was also completed in 2005. This is a proactive land use plan for a portion of the second redevelopment area known as the South Carlsbad Coastal Redevelopment Area. The City Council reviewed the Plan and initiated the Environmental Impact Report (EIR) process. The EIR will be complete and returned to the City Council in early 2007 for further review.
Looking forward to a prosperous 2006!
If you have any questions regarding the information shared above or any of the redevelopment projects currently underway, please contact Debbie Fountain, Housing and Redevelopment Director, or Cliff Jones, Redevelopment Planner, at (760) 434-2815.