RSG

Intelligent Community Development

Case Studies Real Estate & Development

SHOPPES AT WESTLAKE (WESTLAKE VILLAGE) – SELLECK DEVELOPMENT

In 2011, RSG was asked to perform a public revenue and benefits study for a proposed 247,000 square foot retail center, by the developer of the project.  The developer had recently purchased the property which was entitled for a 376,000 square foot office project.  The project, located in the upscale community of Westlake Village, will consist of a prominent national anchor tenant, as well as several other prominent mid-sized retailers, inline shops, and restaurant pads. RSG analyzed the sales, property, business, and utility user tax associated with both the retail and office project. Our analysis assisted the developer and City in quantifying the potential economic impact of each project.  RSG also performed a cursory analysis of other public benefits associated with the project including new jobs, decreased peak morning traffic, enhanced economic activity, property tax revenues to public agencies other than the City, and contributions to the local community by the anchor tenant.  RSG’s quick turn around and detailed analysis have been critical in the developer obtaining entitlements for the retail center from the City.