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The Former Kaiser Steel Property.

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Presentation on theme: "The Former Kaiser Steel Property."— Presentation transcript:

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3 The Former Kaiser Steel Property

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66 Commercial Establishments

67 Office Establishments

68 Industrial Establishments Transportation, Commerce, and Utilities

69 Manufacturing Establishments

70 Warehousing Establishments

71 Retail Establishments

72 Hotel & Motel Establishments

73 Theaters & Retail Amusement

74 98” Population

75 Average Household Size

76 Aggregate Total Income

77 Median Household Income

78 98’ % of Housing Vacant

79 98’ % Owned Housing Units

80 98’ % Rented Housing Units

81 98’ % Households Newcomers

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93 Ontario, CA Marketplace attributes n City’s new convention center n Proximity to Long Beach Harbor n Developer friendly municipal climate n RE markets economic bulk & velocity n Located in the Largest County in the US n Community’s relative affordable Housing n Community’s Technological infrastructure n Foreign Trade Zone and Enterprise Zone Status n Impressive rail, air, and ground transportation links n Intermodal commerce center of “The Inland Empire” n Commercial & consumer in-migration from w/in LA Basin n City located at confluence of I-10, I-15, I-210, and SR-60 n Major “Institutional” presence of Space Users & Developers

94 The Former Kaiser Steel Site attributes n Site served by “Dual” rail spurs n Site bordered by I-10 and SR-60 n Property's proximity to Interchange n Access to ground transportation links n Impressive infill development potential n Mass of former Kaiser Steel Site (619 Acres) n Site served by heavy industrial power capacity n Site’s historic significance and local recognition n Site’s proximity to Ontario International Airport n Site’s proximity to regional retail & entertainment

95 The Former Kaiser Steel Property asset development constraints n Geotechnical considerations n Property’s environmental stigma n Cost of subsurface infrastructure n Cost of obtaining approvals & permits n Cost to remediate property to closure n Developer risk given the size of parcel n Competitive industrial real estate climate n Remote potential for condemnation by City n Potential need for additional interchange(s) n Time lag in bringing clean product to market n Wetlands mitigation costs to vertically develop n Timeline for developmental entitlement process n Remediation timetable - presently unknown to LB n Necessity to deed restrict property for non-residential use n Lack of definitive real estate character in Kaiser submarket

96 The Former Kaiser Steel Property alternative repositioning strategies n Sell “clean” site to master developer n Retain merchant developer on fee basis n Public-Private Sector Joint Venture development n Act in “Vertical Development” capacity as builder n Develop wetlands “for-profit” in mitigation strategy n Market site globally for significant “Campus Concept” n Joint Venture with local, regional, & national developers n Master plan, subdivide, and sell “clean” parcels individually n Ground lease portions of property to developers and users n Develop specialty mixed-use non-residential resort concept n Develop community amenity such as recreation center/park n Combination of any of the above “Repositioning Strategies”

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