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Santa Ana Redhill Development <br /> <br /> <br /> <br /> <br />Prepared for: City of Santa Ana <br /> <br />AECOM <br />9 <br /> <br />demand is expected to be more regional in nature given the Project’s accessibility and proximity to centers of <br />employment, the increasingly regional nature of the housing market, and the Project’s market rate rental profile. <br /> <br /> <br />Table 1: Inventory and Growth in 3 Districts <br />Inventory and Growth in 3 Districts <br /> Dyer South Irvine Bus Com Tustin Legacy <br />Multifamily <br />2019 Inventory (Units) 0 8,592 998 <br />Growth 2010-19 (Units) 0 4,086 998 <br />Growth Since 2010 (%) 0% 48% 100% <br /> <br />Retail <br />2019 Inventory (SF) 133,789 1,181,459 1,067,109 <br />Growth 2010-19 (SF) 0 26,699 88,465 <br />Growth 2010-19 (%) 0% 2% 8% <br /> <br />Office <br />2019 Inventory (SF) 1,939,711 20,428,286 517,217 <br />Growth 2010-19 (SF) 0 787,290 517,217 <br />Growth 2010-19 (%) 0% 4% 100% <br /> <br />Industrial <br />2019 Inventory (SF) 1,969,114 10,699,791 0 <br />Growth 2010-19 (SF) 0 51,450 0 <br />Growth 2010-19 (%) 0% 0.5% 0% <br /> <br />Flex <br />2019 Inventory (SF) 1,133,883 6,180,044 0 <br />Growth 2010-19 (SF) 9,000 13,530 0 <br />Growth 2010-19 (%) 0.8% 0.2% 0% <br />Source: Costar, AECOM <br /> <br />There has been significant growth of multifamily dwelling units in the 3 districts since 2010, and an additional 5,694 <br />units are in the current development pipeline, representing a further 50% growth in total inventory. Numerous <br />commercial projects are currently proposed or under construction in the 3 districts, including over 530,000 SF of <br />office, 230,000 SF of flex, and 420,000 SF of healthcare related facilities. Table 2 shows the current development <br />pipeline for the 3 districts. Figure 2 shows the recent construction and pipeline MFR projects in the vicinity of the Dyer <br />South Focus Area. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />3-236