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Figure 2: Recent Multifamily Development and Pipeline <br />Source: ESRI, Costar, AECOM <br />Table 2: Current Development Pipeline in 3 Districts <br />Current Development <br />Pipeline in 3 Districts <br />Dyer South <br />Irvine Bus Com <br />Tustin Legacy <br />Total <br />Multifamily(units) <br />1,221* <br />4,473 <br />0 <br />5,694 <br />Retail (SF) <br />25,200 <br />37,816 <br />0 <br />63,016 <br />Office (SF) <br />56,000 <br />426,000 <br />50,000 <br />532,000 <br />Flex (SF) <br />0 <br />239,000 <br />0 <br />239,000 <br />Hotel (rooms) <br />0 <br />168 <br />0 <br />168 <br />Health Care SF <br />0 <br />424,413 <br />0 <br />424,413 <br />* These are units associated with the Heritage project which are currently included in the Co Star pipeline. <br />Source: Costar, AECOM <br />The recent and proposed development patterns occurring in the adjacent areas indicate a general shift from <br />traditional industrial uses towards more residential and mixed -use development. Nonetheless, the region within a 2- <br />mile radius of the Site maintains a strong concentration of industrial and professional office space that generates <br />employment and economic growth for the County and, coupled with the existing inventory of these uses and existing <br />residential units, forms the backbone of potential quantifiable supportable retail demand. For this reason, AECOM <br />has analyzed demographic trends and projections from a variety of geographies to better contextualize the demand <br />for both the proposed uses of the Project and the Industrial Prototype. <br />Demographic Trends <br />SCAG projections estimate that Santa Ana will experience limited growth in households and employment between <br />2020 and 2040, however, there is already more residential inventory in the Santa Ana pipeline than is included in <br />these forecast estimates for this entire timeframe. Residential vacancy rates in Santa Ana and Orange County have <br />consistently remained below structural occupancy and, as already noted, the Project's residential orientation is <br />towards the Orange County housing market and to some extent the region beyond. As such, continued growth of <br />75C-633 <br />