To: MAYOR AND CITY COUNCIL
From: MARC WIENER, COMMUNITY DEVELOPMENT DIRECTOR
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DISCUSSION AND POSSIBLE ACTION ON THE AREAS STUDY TO IDENTIFY AND RECRUIT NEW DEVELOPMENT AND BUSINESSES TO THE ARTESIA AND AVIATION CORRIDORS AND THE CITY’S RECENTLY DRAFTED ECONOMIC DEVELOPMENT WORKPLAN
RECEIVE AND FILE THE AREAS STUDY REPORT AND PROVIDE INPUT ON THE CITY’S DRAFT ECONOMIC DEVELOPMENT WORKPLAN
EXECUTIVE SUMMARY
The City’s Strategic Plan includes Economic Vitality as a priority area with the following goals:
Goal 1.1 Enhance the Waterfront
Goal 1.2 Revitalize Artesia Boulevard
Goal 1.3 Position Redondo Beach as a Destination for Business Investment
Goal 1.4 Revitalize the Pacific Coast Highway Corridor
On December 2, 2026, the City Council authorized a $67,000 agreement with Advisors Real Estate Asset Services, CA Inc. (AREAS) to help advance the economic development and business attraction actions identified in the Artesia and Aviation Corridor Area Plan (AACAP). AREAS is a commercial real estate consulting firm that provides development services, asset and property management, and capital sourcing services across a range of property types.
One of the strategic plan objectives listed under Goal 1.3 is to present the findings of the study prepared by AREAS to the City Council. The study includes a retail void analysis, a list of parcels with potential for redevelopment and assemblage, a tenant activation strategy, and a summary of recommendations. In addition to the AREAS findings, this item provides an opportunity for staff to present the Draft Economic Development Workplan prepared by the Community Development Department and to seek input on the strategies identified in the plan.
BACKGROUND
AREAS Report Summary
The AREAS report includes a Retail Void Analysis, which is a method used in commercial real estate to identify which retail brands and categories, or services are missing from a specific trade area. Using 84 retail business ca...
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