/- Acres On Edison Avenue

Transcription

1 Edison Ave /- Acres On Edison Avenue 7914 Edison Ave. Ontario, CA Ontario Chino Chino Hills Chino Airport Eric S. Chavez, CCIM BRE License#: Eastvale

2 Executive Summary This offering consisting of three (3) contiguous parcels with four (4) improved structures that consist of two (2) residential homes and two (2) commercial buildings that total a combine square footage 19,954 sq.ft., and located on /- acres (808, /- sq.ft.) of flat, developable land with 634+/- feet of frontage on the Edison Avenue that is planned to be widen into an eight (8) lanes. Location Edison Avenue /- Acres ( Subject Property ) is located on Edison Avenue, near to the northwest corner of Grove Avenue & Edison Avenue and situated within the Area 4 - South of Riverside Drive of the Ontario Plan known as The Ontario Ranch formerly known as The New Model Colony, as of 2016 the area comprises of several new neighborhoods known as The Avenue, Grand Pak, Subarea 29 and many more. Centrally located along Edison Avenue east of Euclid Avenue, south of Archibald Avenue and is located less than 3 miles south of Interstate 60 ( I-60 ), less than 5 miles west of Interstate 15 ( I-15 ) and east of Chino Valley Freeway 71 with access to employment centers throughout the San Bernardino, Riverside, Orange, Los Angeles, and San Diego counties. Due to its location, future residents of the Subject Property will enjoy the amenities of adjacent residential & retail developments. Property condition The Subject Property is currently is improved with four (4) structures that consist of two (2) residential homes and two (2) commercial buildings currently rented to tenants on month to month leases currently operating agricultural business. Assessor's Parcel Number (4.25+/- Acres) (4.75+/- Acres) (9.56+/- Acres) Asking Price: $9,280,000.00) / $500, per acre ($11.47 PSF) Commission: Contact Listing Broker. Utilities Telephone: Frontier Communications Gas: Southern California Gas Company Electric: Southern California EDISON Sewer: Private Septic System Water: Well Water System Per the City of Ontario infrastructure for roads, water and sewer lines have been prosed & planed out by the City of Ontario. See water and sewer maps on page 9. Land owners/developers will be require to invest their proportionate share of the money to build out the required infrastructure to service there land development projects. Water & Sewer will need to be run west along Edison Ave from Grove Ave that is located less than 0.1 miles from the Subject property. Zoning\Land Use Designation The Subject Property is zoned with Agricultural (AG) overlay, which may allow agricultural uses. The land use designation for the Subject Property is Medium Density & Low Density Residential, which allows single-family detached and multifamily attached residences with a max density of 25 dwelling units per acre for Medium Density & 5 dwelling units per acre for Low Density. Entitlements The Subject Property is currently unentitled and will require a land owner and/or land developer to apply for a Specific Plan. page 2

3 Aerial Map APN: /- Acres APN: /- Acres APN: /- Acres page 3

4 Location Map The Subject Property is located along Edison Avenue; less than 3 mile south of I-60 and less than 5 mile west of the I-71 and east of I-15 of the with access to employment centers throughout the San Bernardino, Riverside, Orange, Los Angeles, and San Diego counties. Due to its location, future residents of the Subject Property will enjoy the amenities of adjacent residential & retail developments. page 4

5 Regional Map page 5

6 Site Photos North View South View page 6

7 Site Photos East View West View page 7

8 Utility Maps /- Acres page 8

9 Utility Maps /- Acres page 9

10 Utility Maps /- Acres page 10

11 Utility Maps /- Acres page 11

12 Sewer Maps /- Acres page 12

13 New Water Supply Maps /- Acres page 13

14 Master Plan of Streets & Highways Maps /- Acres page 14

15 Land Use Plan page 15

16 Zoning Map page 16

17 FAQs FAQs About Ontario Ranch For further information on the New Model Colony, please contact the City's Planning Department at (909) Q. What is the connection of the Sphere of Influence to the New Model Colony? A. The Sphere of Influence was the term used in reference to the area the City of Ontario designated for annexation. This resolution required amendments to the City of Ontario s General Plan and all documents regarding annexation refers to the area as the Sphere of Influence. On November 30, 1999 the final phase of annexation transpired and the City dedicated the area with the new identity of New Model Colony. Q. What is the vision for the Sphere of Influence in terms of future development? A. The SOI will become a place of diversity, encompassing a mix of residential neighborhoods, high intensity regional serving centers, employment centers, and an activity core that serves as the common focal point for all neighborhoods and districts. Each neighborhood and center will become a place that is uniquely identifiable, united through a network of greenways/trails, open spaces, amenities and infrastructure. Livability and quality of life are important drivers of its uses and urban form. The creation of mixed use, commercial and public places that emphasize pedestrian activity is a fundamental premise of the SOI General Plan. Q. How long will it take for the area to reach build-out? A. The General Plan for the area anticipates build-out in 30 years. This figure is only an estimate and the build-out could vary due to market conditions. Q. How does land become developed? A. The pre-zoning ordinance adopted by the City Council on April 20, 1998 designates the entire sphere of influence area as SP (Specific Plan District). The zoning designation of SP requires the area be developed with a series of Specific Plans that carry out objectives of the SOI General Plan, with land uses consistent with the approved General Plan. Q. When will the City begin accepting applications for development, business license requests, new signs, etc.? A. The City began accepting applications on November 30, To date, six specific plan applications have been submitted to the City envisioning the development of 5,285 single family residences, 2,029 multi-family units, over 400,000 square feet of commercial development, and over 500,000 square feet of business park/light industrial development. Q. How long will it take to review/process Specific Plans within the Sphere of Influence area? A. The review process should normally take between 12 to 18 months depending on the complexity of the Specific Plan and/or environmental review. Q. What are the anticipated impact fees, including infrastructure, parks, utilities, biological mitigation, etc.? A. On September 10, 2002, the City Council approved the New Model Colony Master Plans for sewer, water, storm drainage, transportation, and parks. Following approval, the Master Facilities Plan and Development Impact Fee Report were prepared to identify the total costs of the infrastructure installation and the per unit cost required to install the required infrastructure. On June 23, 2003, the City Council approved the development impact fees for the New Model Colony. Copies of the Master Facilities Plan and the Development Impact Fee Report are available from the City of Ontario Planning Department. page 17

18 FAQs FAQs About Ontario Ranch For further information on the New Model Colony, please contact the City's Planning Department at (909) Q. How does the Williamson Act apply to property within the SOI; what are the cancellation procedures? A. Of the total 8,200 acres within the SOI, approximately 5,400 acres are presently under Land Conservation Contract (LCC) established under the Williamson Act. Once the preserve was established, property owners were permitted to contract with the County to preserve the property and qualify for a property tax assessment based upon use and economic yield rather than full market value of the property. An LCC has a minimum term of ten (10) years. However, this term is automatically renewed each year for an additional year, thereby keeping the term of the contract to a period of ten years. This perpetual contract continues until the administering entity, (City) or the owner files a Notice of Non-Renewal, which terminates the contract at the end of its remaining term. When a Notice of Non-Renewal is filed, the property assessment gradually reverts back to being computed upon full market value rather than use. Property owners may petition to have the LCC canceled, subject to specific criteria and payment of cancellation fees. The cancellation fee normally equals twelve and one-half (12.5%) percent of the property s current full market value. Q. Will current agricultural uses and agricultural support uses be allowed to continue or be allowed to expand? A. Yes. Existing agricultural uses and agricultural support uses will be allowed to continue. It is the intent of the City not to prohibit or discourage the continued agricultural use of the area until a Specific Plan for urban development is approved and development occurs. Each Specific Plan is required to address the appropriate transition of the area from agricultural uses to urban uses and include provisions for buffering between such use as needed to protect agricultural uses as well as the new urban uses. Q. Will there be any measures to protect existing farming operations from future development? A. Yes. Two measures address this: 1) Agricultural Overlay District, allows for interim agricultural uses and agricultural support uses and 2) Right-to-Farm Ordinance protecting existing farming operations from future development. Q. What is the review procedure for interim agricultural uses. A. The agricultural overlay district identifies permitted and conditional uses and development standards for interim uses within the SOI. The review procedure is based on the type of use and the extent of construction. The City s development plan review procedures will generally apply to new structures in excess of five thousand 5000 square feet of floor area. An expedited review procedure will be used for this purpose. Hours & Information Located at the heart of downtown, Ontario City Hall provides a wide range of services. City departments are ready to assist and are happy to help residents and businesses with their questions and needs. tax City Hall 303 East B Street Ontario, California City Hall Annex 415 East B Street Ontario, California Phone (909) Cathy Wahlstrom Planning DirectorPhone Phone: (909) CWahlstrom@ontarioca.gov Rudy Zeledon Principal Planner Phone (909) RZeledon@ontarioca.gov John Andrews Economic Development Director T (909) jpandrews@ontarioca.gov Hours Monday - Thursday: 7:30 AM - 5:30 PM Friday: 8:00 AM - 5:00 PM page 18

19 Current Projects Underway OVERALL (approved) Acreage 2,960 acres Single Family Residences 10,231 units Multifamily Residences 6,132 units Commercial 1,525,720 S.F. Business Park 550,000 S.F. APPLICATIONS IN PROCESS Acreage 447 acres Single Family Residences 1,568 units Industrial 1,951,146 S.F. Sources: City of Ontario Grand Park (Approved) 320 Acres 740 single family units 587 multi-family units Subarea 29(Approved) 539 acres 2,392 single family units 87,000 s.f. commercial Parkside (Approved) 250 acres 437 single family units 1,510 multi-family units 115,000 s.f. commercial The Avenue (Approved) 568 acres 2,313 single family units 562 multi-family units 130,000 s.f. commercial Rich Haven(Approved) 510 acres 1,553 single family units 2,703 multi-family units 889,200 s.f. commercial Esperanza (Approved) 233 acres 914 single family units 496 multi-family units West Haven(Approved) 753 single family units 199 acres 87,000 s.f. commercial Countryside (Approved) 178 acres 819 single family units Subarea 29 Amendment (InProcess) 125 Acres 574 single family units Edenglen (Approved) 160 acres 310 single family units 274 multi-family units 217,520 s.f. commercial 550,000 s.f. business park Armstrong Ranch (InProcess) 199 Acres 994 single family units Colony Commerce Center (InProcess) 123 Acres 2,951,146 s.f. industrial page 19

20 Regional Overview The City of Ontario, California, acts as The Gateway to Southern California and for good reason. Ontario sits on the westernmost edge of San Bernardino County and is only 35 miles east of downtown Los Angeles, making it a quick trip to Southern California attractions such as Disneyland, Hollywood, the Staples Center, Dodger Stadium and Angel Stadium of Anaheim. The City of Ontario is about 50 miles from the beach communities of Santa Monica, Venice and Manhattan Beach. Ontario is less than 90 minutes from world-class surfing in Malibu and the worldfamous zoo in San Diego and is only a three-hour jaunt to the flashing lights and nonstop action of the Las Vegas Strip. Ontario is one of the major cities in California s Inland Empire, a region of sun-kissed valleys and rolling hills that was once home to vineyards, citrus groves and grazing pastures. Today, the Inland Empire is home to more than 4 million people and is a hub of industry and transportation. Ontario is surrounded by the cities of Rancho Cucamonga, Corona, Riverside and many others. Although Ontario is close to all that Southern California has to offer, there s no need to leave the City to find what you re looking for. The City is home to Ontario Mills, California s largest indoor outlet mall that boasts more than 200 shops and factory outlet stores by retailers such as Nordstrom, Saks Fifth Avenue and Neiman Marcus, as well as a 30-screen AMC movie theater. Ontario is also home to the Citizens Business Bank Arena, which opened in The arena is the Inland Empire s premier event center and hosts big-name bands and musical performers, family acts and events, and professional sports games. Catch an Ontario Reign hockey game, an Ontario Fury soccer match or a Los Angeles Lakers game at the 11,000-seat arena. Ontario also sits in the Cucamonga Valley, one of the Inland Empire s oldest wine regions. Although many of the wineries that once dotted the valley in its winemaking heyday are now gone, the area surrounding Ontario is still home to a distinguished wine industry. Take an afternoon to tour the family owned vineyards and taste the varietals at The Galleano Winery, San Antonio Winery and Joseph Filippi Winery. Come explore the region for yourself and discover why Ontario, California is a great choice to eat, work, and play! Visit: page 20

21 LocalOverview The Ontario Plan is a dynamic Framework for sustained, comprehensive leadership in building our community. It integrates components of city governance that are typically disconnected. The Plan states community direction at a point in time (2009) and integrates it into a single guidance system that will shape the Ontario community 20 years or more into the future. The Ontario Plan provides for lasting policies to accommodate change. It consists of a six part Component Framework: 1) Vision, 2) Governance Manual, 3) Policy Plan, 4) City Council Priorities, 5) Implementation, and 6) Tracking and Feedback. At a public hearing held on Wednesday January 27, 2010, the Ontario City Council unanimously approved The Ontario Plan Component Framework, and approved the completed Vision, Governance Manual and Policy Plan (General Plan). Two additional components, Implementation and Tracking and Feedback, will be considered for adoption by the City Council once completed. The City Council Priorities were adopted in February The Policy Plan states long-term goals, principles and policies for achieving Ontario s Vision. It guides growth and development to achieve optimum results from the City s physical, economic, environmental and human resources. The Policy Plan serves as the City s General Plan which is mandated by state law. General Plans are required to include seven elements (Land Use, Housing, Circulation, Noise, Safety, Open Space and Conservation). The organization of these seven elements, and any optional elements, are determined by the local jurisdiction. The General Plan is required to be comprehensive in nature and internally consistent. Ontario s General Plan is made up of nine elements: Land Use, Housing, Mobility, Safety (including Noise), Environmental Resources (including Conservation), Parks and Recreation (including Open Space), Community Economics, Community Design, and Social Resources. State law requires that local jurisdictions update their General Plans every 10 years and their Housing Elements generally every five years. Ontario s last comprehensive General Plan update was in The Housing Element was updated in In addition to being a comprehensive update to the City s General Plan, The Policy Plan incorporates the goals and policies necessary for the City to achieve its full Vision beyond what state law mandates. The Policy Plan is intended to be a long term policy document. It includes abiding principles for each element, goals (what we want to achieve) and policies (how we accomplish these goals). Except those that are required by Housing Element regulations, implementation measures are not a part of The Policy Plan. However, given the web format, links to implementation measures are included in each element section. Purpose The Policy Plan: Takes a fresh look at the changing circumstances within the City and the region since the previous General Plan was adopted. Establishes a strong, yet flexible policy base that moves the City towards its Vision. Incorporates the current City Council Priorities (goals and objectives) into this policy document which will help guide future Council efforts when the plan is updated or revised. Complies with State requirements for local general plans. Imbeds the City s governance approach into how it operates and makes decisions. Visit: page 21

22 CASE STUDY Colony At Azusa Condominium Project - Address: 703 S Azusa Ave, Azusa, CA The subject project 1st phase was developed/constructed in 2009 and the 2nd phase developed/constructed in Total land size consisted of 194,052 Sq.Ft./4.45 acres. The project was able to deliver 87 condominium units (19 units per acre). Estimated Property Values: $421,214 - $504,532 Average Condominium Home Sq.Ft. : 1,500 Subject property is located next to power lines and a self storage facility. This site displays the possibilities to develop the acres on Edison Ave and provides proof that a site located next to powers lines can be a successful development project. page 22

23 Highlights: Land Assemblage : Acres. Build up to 1,095 Units. Street Frontage On a Major City Road. (73.89+/- Acres) Own by the County of San Bernardino will be made available for sale in N.A.P. Edison Power Lines. Residential Street. (18.77+/- Acres) Could be made available for sale. N.A.P. (9.56+/- Acres) LDR (2.1-5 du/ac) 40+/- homes (9+/- Acres) ; 03 MDR ( du/ac) 175+/- homes Edison Ave ( 3-Widen to 8 lanes) /- Acres On Edison Avenue 7914 Edison Ave. Ontario, CA Chino Ontario 1- Zoning\Land Use Designation Medium Density & Low Density Residential max density of 25 dwelling units per acre for Medium Density & 5 dwelling units per acre for Low Density. 2 - Edison Ave ( 3-Widen to 8 lanes)) Chino Hills Chino Airport Eastvale Eric S. Chavez, CCIM ericsc@ca-rebf.com BRE License#: Edison Power Line Land space 150 x 634 = 95,100 sqft/2.18 ac 10x10 Standard Storage Unit = 1 car garage Land space may provide = 800 Storage units or 100 RV/Boat Storage units