Rolling Hills Estates, California
The City of Rolling Hills Estates sought to revitalize the Peninsula Center Commercial District, an approximately 98-acre area composed of retail, office, and other uses primarily serving residents of the affluent Palos Verdes Peninsula in the South Bay Region of Los Angeles County. Geographically, the City and Palos Verdes Peninsula are somewhat set apart or “off the beaten track” relative to major population, tourism, and transportation corridors in the Los Angeles/South Bay Region. Consequently, the Commercial District struggled in past years between competing for tenants and customers in the broader South Bay Region versus supporting the retail and office needs of local residents and small business owners.
EPS conducted an analysis of local and regional demographic and real estate market trends affecting the long-term economic potential of the Commercial District. The analysis focused on retail, office, and mixed use residential land uses. EPS also assisted the City of Rolling Hills Estates in identifying policies and strategies that could enhance the success of existing tenants, as well as incentivize investment and revitalization consistent with the community’s unique cultural identity and vision. The study found that while substantial opportunities existed for improving the performance of the office and retail markets, the Commercial District’s strength lay in its appeal to the community or neighborhood rather than regional customers and tenants. The analysis also found that while new residential development could provide a financial “carrot” to developers, it was not likely to support a significant expansion in the retail sector.