from the Historic Plaza Theater. This prime block of Palm...

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P• Superb Location125 – 139 South Palm Canyon Drive in the heart of downtown Palm Springs, directly across the street from the Historic Plaza Theater. This prime block of Palm Canyon Drive features the highest foot traffic, along with the highest sales volume restaurants in Palm Springs.

• Square Footage / Current and Future UseCity Approved Restaurant Plans: 7,335 sf fully approved adaptive re-use to convert the hotel and tower to a 280 seat fine dining restaurant and bar. Currently in shell condition. Square footage after completion of the adaptive re-use is 9,140 sf.Retail: 1,063 sf is currently occupied by Expert Repairs on a month-to-month Lease. 742 sf is currently occupied by Tamara G on a month-to-month Lease.

• Parcel SizeTo be determined by a lot line adjustment with the adjacent Oasis Plaza building.

• Construction TypeArt deco style embossed concrete detailing, 12” to 18” thick concrete steel reinforced walls using slip-form construction, a technique developed by Eric Lloyd Wright.

• Age: 1924 • Zoning: CBD Central Business District

• EntitlementsOn March 1, 2006, the City Council approved Case No. 5.1076, a Conditional Use Permit to allow the adaptive re-use of the hotel and tower to a 9,140 sf restaurant and bar and 1,805 sf of retail space.

• ArchitectThe adaptive re-use design, working drawings, and approved plans developed by David Christian, AIA.

• Opportunities1) Modify the adaptive reuse plans to combine the two retail units and restaurant into a single tenant onfiguration.2) Continue to lease the property as a multi-tenant building: Complete the restaurant adaptive re-use construction, along with the approved expansion of Expert Repairs and Tamara G.

THE OFFERING

Demographics: 1 mile 3 mile 5 milePopulation: 5,955 42,585 82,627HH Income: $51,052 $66,583 $65,113

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AERIAL

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the property is superbly located, at the dynamic intersection of Palm Canyon Drive and Tahquitz Canyon Way, the very center of the Village of Downtown Palm Springs. This intersection enjoys the highest foot traffic counts of any intersection in the entire Coachella Valley.


In 1924 Lloyd Wright designed the Oasis Hotel and Retail Shops, now a Class-1 Historic building, and will soon become the future home of a 280 seat fine dining restaurant. This adaptive re-use project will feature new indoor and outdoor dining on three levels of the former hotel and tower, plus an elegant upstairs open air bar featuring entertainment. Additionally, there are two currently operating retail stores in the historic shops fronting Palm Canyon Drive which are approved for expansion.

The project is superbly located, at the dynamic intersection of Palm Canyon Drive and Tahquitz Canyon Way, the very center of the Village of Downtown Palm Springs. This intersection enjoys the highest foot traffic counts of any intersection in the entire Coachella Valley.

The property consists of three historic buildings, two courtyards, and the Loretta Young Tower. The shops building is currently home to Expert Repairs and Tamara G. The remaining two buildings(formally eleven hotel rooms) have been “gutted” to shell condition and are permit ready for adaptivere-use to restaurant and bar which was tentatively named “Loretta’s Hideaway” during the entitlement process.

EntitlementsOn March 1, 2006, the City Council approved Case No. 5.1076, a Conditional Use Permit to allow the adaptive re-use of the hotel and tower to a 9,140 sf restaurant and bar and 1,805 sf of retail space.

During the entitlement and working drawings process, the tentative name “Loretta’s Hideaway” was used by the architect for the restaurant, and the name “Club 139” for the upstairs bar. Club 139 was a well known bar and casino establishment in Cathedral City during the 1930s and 1940s. Memorabilia from Club 139 is available. The name “Loretta’s Hideaway” was used for the restaurant because Loretta Young, a film star of the 1930s and 1940’s frequently stayed at the Oasis Hotel during her years of Hollywood fame. The 3-story tower was named “The Loretta Young Tower.” The architect’s concept is to add memorabilia from the 1930s and 1940s to the restaurant and bar to create the appearance that the conversion occurred from hotel to restaurant in the 1930s and 1940s, and that many famous people frequented the establishment over the years. This concept can be modified and/or renamed and will not affect the entitlements for the adaptive re-use.

Original Architect: Eric Lloyd Wright. Lloyd Wright designed many famous homes and commercial buildings in Southern California between 1922 and 1977. He apprenticed with his father Frank Lloyd Wright from 1948 to 1956 and later worked as an associate in his father’s office until his death in 1978. The Oasis Hotel was actually Lloyd Wright’s first commercial project which took two years to complete.

Adaptive Re-Use Architect: David Christian has designed many beautiful restaurants in downtown Palm Springs, all enjoy high volume sales. The impressive list includes:

Las Casuelas Kaiser GrillLG’s Prime Steakhouse Match BoxThe Chop House Falls Steakhouse

ExECUTIVE SUMMARy


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SUBJECT PROPERTy PHOTOS

FRONT VIEW OF RETAIL SHOPS RETAIL SHOPS FRONTING PALM CANyON

RETAIL SHOPS & LORETTA yOUNG TOWER

RETAIL SHOPS FRONTING PALM CANyON

HIGH VOLUME RESTAURANTS IN DOWN TOWN PALM SPRINGS


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THE FOLLOWING RESTAURANTS/BARS REPRESENT THE HIGHESTCONCENTRATION OF HIGH-VOLUME RESTAURANTS

(3.5 MILLION TO 12 MILLION ANNUALLy EACH)


RESTAURANTS DESIGNED By DAVID CHRISTIAN A.I.A.

THE FALLS STEAKHOUSE (LEFT) MATCHBOx (RIGHT)

(DESIGNER OF CITy APPROVED RESTAURANT/RETAIL PLANS)



THE CHOP HOUSE

LG’S PRIME STEAKHOUSE



LAS CASUELAS TERRAZA


SURROUNDING PROPERTIES PHOTOS

THE PLAZA THEATRE SEE’S CANDIES

MERCADO PLAZA ADJACENT TO PLAZA EyE FASHIONS


HISTORIC PHOTOS

THE OASIS STORY

Before the turn of the century, Palm Springs was discovered to be a beautiful desert oasis with curative powers. As word spread to the East Coast of the healing power of the warm desert sun, visitors came in increasing numbers. In 1924 Pearl McManus hired famed architect Lloyd Wright, son of Frank Lloyd Wright, to design and build the Oasis Hotel - the City’s second hotel. For 70 years, the Oasis Hotel has been home to the famous and infamous from all over the world. The most celebrated guest were members of the early Hollywood Film Colony. Film star Loretta Young occupied the Tower Room for several years.

LLOyD WRIGHT (LEFT) PEARL McMANUS (RIGHT)

from the Historic Plaza Theater. This prime block of Palm...

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