1 Mayor and Council Economic Development Breakfast SEPTEMBER 28, 2017
Thank You to our 2 Sponsors @ioDataCenters @SRPconnect
Today’s Program 3 7:30 a.m. Breakfast and Networking 8 a.m. Welcome from Mayor W.J. “Jim” Lane 8:10 a.m. Revitalization Update from Councilmember Virginia Korte 8:25 a.m. Economic Development Update from Danielle Casey 8:40 a.m. Keynote Presentation from Todd Govig 9 a.m. Event Conclusion @ScottsdaleEcDev | #ChooseScottsdale
4 Welcome from W.J. “Jim” Lane Mayor, City of Scottsdale
5 Celebrating New Firms @ScottsdaleEcDev | #ChooseScottsdale
6 Celebrating New Firms @ScottsdaleEcDev | #ChooseScottsdale
7 Scottsdale Community College – Your Fighting Artichokes @ScottsdaleEcDev | #ChooseScottsdale
8 Scottsdale: The Cure for the Common City siteselection.com/cc/greaterphoenix
9 Save the Date: 5 th Annual Cure Corridor Event Keynote Andrew Hessel Friday December 8, 11:30 a.m. – 1:30 p.m.
10 South Scottsdale Update from Virginia Korte Councilmember, City of Scottsdale
Rise of McDowell Road 11 1960’s 1970’s 1980’s 1990’s 2000’s Papago Plaza Ray Korte Chevrolet Dealership McDowell Road Flood Los Arcos Mall @ScottsdaleEcDev | #ChooseScottsdale
Revitalization of McDowell Road 12 2004 2008 2013 TODAY FUTURE SkySong Innovation Center SkySong Apartments SkySong 6 Conceptual Rendering McDowell Road and Scottsdale @ScottsdaleEcDev | #ChooseScottsdale
2012-2015 Residential Completions 13 27 5 9 19 Tempe 147 242 265 328 Scottsdale 1288 1737 1498 1582 Phoenix 2108 1886 1641 1409 Gilbert 559 494 415 593 Chandler 2012 2013 2014 2015 Source: Maricopa Association of Governments, Residential Completion Report
2012-2015 Multifamily Completions 14 566 451 332 1160 Tempe 220 379 1275 2486 Scottsdale 875 1548 1798 2310 Phoenix 2 279 672 147 Gilbert 227 488 777 903 Chandler 2012 2013 2014 2015 Source: Maricopa Association of Governments, Residential Completion Report
Downtown and McDowell Road Corridor 15 Population Trends and Projections 20,649 9,366 2022 TOTAL HOUSEHOLDS 19,008 8,708 2017 TOTAL HOUSEHOLDS 16,957 7,994 2010 TOTAL HOUSEHOLDS 17,381 8,137 2000 TOTAL HOUSEHOLDS Downtown Scottsdale McDowell Road Corridor Source: September 2017 ESRI
Downtown and McDowell Road Corridor 16 Owner/Renter Occupied Housing 70% 61% 60% 50% 44% 37% 40% 30% 25% 19% 20% 13% 10% 0% 2017 Owner Occupied Housing Units 2017 Renter Occupied Housing Units 2017 Vacant Housing Units Downtown Scottsdale McDowell Road Corridor Source: September 2017 ESRI
Downtown and McDowell Road Corridor 17 Owner/Renter Occupied Housing 70% 61% 60% 50% 44% 37% 40% 25% 30% 19% 20% 13% 10% 0% 2017 Owner Occupied 2017 Renter Occupied 2017 Vacant Housing Housing Units Housing Units Units Downtown Scottsdale McDowell Road Corridor 2017 Owner Occupied Housing 2017 Renter Occupied Corridors by Zip Code Units Housing Units 2017 Vacant Housing Units 2017 Total Housing Units Downtown Scottsdale 8,648 10,360 4,525 23,533 McDowell Road Corridor 6,153 2,555 1,349 10,057 Source: September 2017 ESRI
2017 Average Household Income 18 Downtown Scottsdale $73,310 , 46% McDowell Road $84,659 , 54% Corridor Source: September 2017 ESRI
McDowell Road Corridor 19 COMMERCIAL INV NVESTMENT GROWING MARKET TR TRENDS The vacancy rate for commercial Since 2011 Single office on McDowell Road Corridor family resale values is at 21% with an average lease have doubled rate of $26.66 /SF in Q2 2017 PUBLIC INV PUB NVESTMENT Since 2011 public investment in the form of capital improvement projects total $102M with more than $50M planned
Downtown Scottsdale 20 GROWING MARKET TR TRENDS INV NVESTMENT Over 23,500 jobs Nearly 1400 multi-family are in Downtown residential units are currently Scottsdale under construction PO POPULATION In 2016 the total downtown population was over 3,300 with a median age of 40.9
Downtown Activation 21 FUNDED EVENTS Scottsdazzle, Western Week, FUNDING Canal Convergence, Parada The City Council Del Sol Parade and Trails End approved $1.1M in Celebration, and the Scottsdale funding of Downtown Grand Prix events $ EVENT BENEFITS EVENTS Increased cultural In 2016 Downtown opportunities, recreational Scottsdale hosted 174 activities, and increased events economic activity
22 Downtown Marketing Early 2017 July 2017 October 2017 January 2018 The City contracted New brand soft • The City provided an In-depth marketing with a local marketing launch will occur overview of its and advertising of firm HAPI to embark Downtown marketing plans to on a Downtown Scottsdale will begin downtown Scottsdale brand in January following businesses positioning project our downtown with the intent to holiday event advertise our “ Scottsdazzle .” desirable downtown to locals throughout the greater Phoenix area, as well as visitors here on their vacations.
The Future of 23 Downtown Tourism related economic feasibility study Numerous public input sessions Final report late October @ScottsdaleEcDev | #ChooseScottsdale
Downtown Hospitality 24 Hotels 17 hotel properties and 2,555 rooms, which respectively accounts for 34% and 28% of total Scottsdale hotels and rooms Occupancy Rates Downtown hotels occupancy has remained fairly consistent year over year holding at 70%, . Average Daily Rate Average daily rate for a Downtown hotel room over the past twelve month has been $156.78, which is up 3.8% year over year . @ScottsdaleEcDev | #ChooseScottsdale
25 Growing Downtown Scottsdale Macerich expansion of Scottsdale Fashion Square Mall $12M Hotel Adeline remodel underway Livewire restaurant and bowling alley Luxury apartment at Peacock Scottsdale Winfield Hotel and Residences
26 Desert EDGE Located on a 5.34-acre parcel that borders an existing parking lot and • incorporates a maintenance building that was constructed at the same time as the Gateway Trailhead building 47,586 square feet with eight indoor and outdoor pavilions and an • additional 5,400 square feet of off-preserve space for operational uses and overflow parking
27 Desert EDGE The future site will also house the newly established Arizona State University • Global Drylands Institute, which will primarily focus on dryland ecosystems and how humans affect them
28 Economic Development Update from Danielle Casey Economic Development Director, City of Scottsdale
29 PURPOSE OF ECONOMIC DEVELOPMENT STRATEGIC PLAN AS ADOPTED FEB.17, 2015 “ To elevate, enhance and ensure Scottsdale’s sustained desirability as a place in which to live, learn, do ” business, work, recreate and visit. CARRYING OUT THE COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY ALSO SERVES AS ONE OF THE SIX CITY COUNCIL STRATEGIC PRIORITIES ADOPTED SEPT. 20, 2016 @ScottsdaleEcDev | #ChooseScottsdale
Key Performance 30 Indicators @ScottsdaleEcDev | #ChooseScottsdale
31 Industry Trends Since 2012: 8.5% Retail Vacancy Rate (+1.6%) 12.4% Office Vacancy Rate (-2.1%) 7.9% Industrial Vacancy Rate (+1.9%) 28.4% growth in corporate HQ positions 25% growth in financial services workforce 18% growth in healthcare and bioscience jobs Year to date, median home sales price +4.1% Maricopa County #1 on Talent Attraction Scorecard @ScottsdaleEcDev | #ChooseScottsdale
32 ScottsdaleSites.com @ScottsdaleEcDev | #ChooseScottsdale
33 Supporting Talent Attraction and Retention ChooseScottsdale.com/work @ScottsdaleEcDev | #ChooseScottsdale
34 Startup Support @ScottsdaleEcDev | #ChooseScottsdale
35 Recognitions and Awards Accredited Economic Development Organization, Multiple Awards, and Two Team Members Achieving Certified Economic Developer Status @ScottsdaleEcDev | #ChooseScottsdale
Looking Ahead 36 Utilize results of business survey to develop programs or service improvements Grow ‘Work Scottsdale’ initiative with increased collaboration Focus on redevelopment opportunities in key corridors Increase support programs for small business Expand internal direct lead generation and partner participation @ScottsdaleEcDev | #ChooseScottsdale
37 Please Join Us.
38 Key Partners
39 Todd Govig President & Chief Executive Officer, Govig & Associates
Thank You to our 40 Sponsors @ioDataCenters @SRPconnect
Mark Your Calendars 41 October 18: Downtown Business Gathering November: Fall 2017 Small Business Training Series December 8: 5 th Annual Cure Corridor Event For more events, programs and news visit ChooseScottsdale.com/news @ScottsdaleEcDev | #ChooseScottsdale
42 Thank You for Attending. MAYOR AND COUNCIL ECONOMIC DEVELOPMENT BREAKFAST SEPTEMBER 28, 2017
CITY OF SCOTTSDALE ECONOMIC DEVELOPMENT MISSION 43 “ “ Through its economic development investments and programs, the City of Scottsdale retains, grows and attracts targeted sources of wealth generation to enhance the community’s tax base and quality of ” life, preserve the natural environment and foster prosperity for all citizens.” @ScottsdaleEcDev | #ChooseScottsdale
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