Railroad Inn and Restaurant Conceptual Project Presentation April - - PowerPoint PPT Presentation

Railroad Inn and Restaurant Conceptual Project Presentation April 17, 2017

GROUND FLOOR

Second Floor

GAMBLE HOUSE

ROBERT BLACKER HOUSE

Regional Market Analysis

Report authored June 2016 -- Keyser Marston The increase in County room demand is projected for the period between 2016 and 2031 based on an assumed 2.0% annual increase in the demand for hotel rooms, and 74% to 76% target occupancy rates. Based on these assumptions, demand for approximately 180 to 340 new hotel rooms is exhibited in the County over the next five years and over 2,000 new hotel rooms are supported over the next 15 years. The current collection of hotels in Carpinteria does not offer a broad range of product types that would meet the needs of regional visitors.

Regional Market Analysis

• The Site would be a good location for a hotel, given its proximity to

the downtown and the Beach.

Project Economic Analysis

Downtown Business Improvement Ground Lease Revenue Sales Tax Property Tax Transient Occupancy Tax

High Quality Architectural Design representing a valuable investment in the downtown area. This can encourage other quality development. Improve the visitor and retail business climate in the Downtown T improving retail stability. A downtown hotel is an axiom of a small town but is absent in Carpinteria. Location promotes travel by train and is connected by bus service. The location and Carpinteria’s pedestrian friendly downtown makes travel by train more attractive. Project would provide local jobs, economic benefits and significant local revenues.

LAND USE ELEMENT Objective LU-1: Establish the basis for orderly, well planned urban development while protecting coastal resources and providing for greater access and recreational opportunities for the public. Objective LU-3: Preserve the small beach town character of the built environment of Carpinteria, encouraging compatible revitalization and avoiding sprawl development at the City’s edge.

Policy LU-3e: Direct commercial development toward the center of town and in established commercial nodes. Exceptions include visitor-serving commercial uses in the Bluffs III sub-area, and commercial uses of a character, size and location that are intended solely to serve a specific neighborhood and thereby reduce vehicle trips. Policy LU-3g: Provide for a range of business activities that bring vitality, revenue, and employment to Carpinteria and are compatible with its small town character.

Objective LU-5: Maintain availability of agriculture, coastal - dependent industry and visitor-serving commercial development including hotels/motels, restaurants and commercial recreation uses. Objective CD-2: Architectural designs based on historic regional building types should be encouraged to preserve and enhance the unique character of the city.

Existing spaces in Parking Lot #3 ………………... 118 Inn as presented requires ……………………………… 34 Restaurant as presented requires …………………..15 Total required………………………………………………… 49 Project will eliminate ……………………………………. 30 Project must add minimum of ………………………. 79

PARKING ANALYSIS

Water Demands According to the Carpinteria Valley Water District A 30 room hotel will require approximately 3 acre feet per year.

Acoustics

Attenuated by design.

May reduce train noise on Fifth Street.

Request For Proposals RFP

• Define a Project to conform with City Council Direction.
• Seek a Builder / Operator to construct and run the project.
• Provide no City subsidy.
• Be market price driven for terms such as ground lease amount.
• Provide for financial safeguards to protect public interests.
• Provide long term for lease ( 55 years +).
• Provide reserve maintenance fund

The KMA analysis indicates the Project may be financially feasible. However, there are a significant number of cost, revenue, political and risk variables that could affect these findings. The potential magnitude of these issues could ultimately lead hotel developers to determine the Project is not feasible. Ultimately, the market and financial feasibility of a hotel on this Site will be determined through a solicitation of proposals and negotiations with a developer.