Listed by Coldwell Banker Commercial Lyle & Associates
$41,090,000
Desert Rose
Details
APN 685-010-025; 685-010-024; 685-010-015; 685-010-018
Property Type Land
Sub Type Commercial
Acreage 148.930
Zoning Mixed-Use Core (SP 19) Residential (SP 19) Retail (SP 19) Resort Flex (SP 19)
Land | 148.93 acres
Marketing description
148.93 acres of raw mixed-use land encompassing the majority of rancho mirage's section 19 specific plan.
Comp report available upon request.
Parcel#1
Subject property is an approximately 57.46-acre parcel consisting of five(5) planning areas.
1. Planning areas 2.01, 2.03, 2.05, and 2.06 are targeted for mixed-uses. Buildings in the mixed-use section are desired to have a combination of residential and nonresidential uses with up to 329 residential units in total within the four stated planning areas.
2. Planning area (pa) 1.05 has frontage to bob hope drive. The city specifically envisions this parcel to be developed into a resort hotel with up to 280 rooms being already permitted.
Parcel#2
Subject property is an approximately 57.46-acre parcel consisting of six(6) planning areas.
1. Planning area (PA) 1.04 has frontage to dinah shore drive. This planning area will become a corner lot on a signalized intersection once the proposed key largo avenue expansion is completed. The city specifically envisions this planning area to be developed into community retail with a maximum floor-area ratio (far) of 0.35.
2. Planning areas 2.02, and 2.04 are targeted for mixed-uses. Buildings in the mixed-use section are desired to have a combination of residential and non-residential uses with up to 182 residential units in total within the two stated planning areas.
3. Planning areas 4.01, 4.02, and 4.03 are targeted for high density residential. A maximum of 588 units could be constructed at densities reaching 28 units per acre in buildings ranging from three to four stories in height. The inclusion of affordable housing is highly encouraged and could increase allowable density to approximately 36 units per acre.
Parcel # 3 is located in the southwestern corner of rancho mirage's section 19 planning area, the property spans planning areas 1.01 and 1.02, which are the least
Intense areas in the section. These areas feature elevated topography and a maximum floor-area ratio (far) of 0.35–0.40. The property allows for low-density residential (planning area 1.01), medium to high-density residential (50 residential units) and mixed-use (planning area 1.02). Additionally, a boutique hotel with up to 150 rooms is planned as part of the lifestyle center (planning area 1.01). The site is situated at the intersection of dinah shore drive and bob hope drive, both of which are key corridors with high traffic volumes. Dinah shore drive sees approximately 16,709 vehicles per day, and bob hope drive experiences 15,465 vehicles per day, providing excellent visibility and accessibility.
Desert Rose consists of three separate parcels offered together in an
assemblage sale. The parcels are as follows, parcel #1 (57.46 acres),
parcel #2 (57.46 acres), and parcel #3 (34.01 acres). Total acreage within
the Desert Rose assemblage sale: 148.93 acres.
Note, Parcel #4 (56.33 acres) is not included in the Desert Rose
Assemblage sale but is available to purchase. (Outside Broker)
Total Acreage (Parcel #4 included): 205.26 acres.
Desert Rose Assemblage (148.93 acres):
1,149-1317 Residential units (total)
430 Hotel Rooms Permitted (280 (PA 1.05) & 150 (PA 1.01))
Non-residential square footage: 1,489,400 sq.ft
Investment highlights
- Mixed-Use Core (SP 19)
- Residential (SP 19)
- Retail (SP 19)
- Resort Flex (SP 19)
- APN 685-010-025
- APN's 685-010-024 & 685-010-015
- APNs 685-010-025 & 685-010-018
- Retail\Resort Flex\Mixed-Use Core\Regional Mixed-Use\Residential (Specific Plan 19)
- Yellow - Dessert Rose Assemblage Sale
- Gray - City owned/unlisted land
- Green - Available (Outside brokerage)
- Red - Tribal land
- Cumulative Cost PSF: $6.33
Listing Contacts
Listed by Coldwell Banker Commercial Lyle & Associates
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