Client: City of National City
Working with Stepner Design Group, Seifel provided economic advisory services for the Specific Plan and General Plan Amendment of National City’s Downtown Area.Seifel advised the City and the former National City Redevelopment Agency regarding the economic feasibility of potential modifications to land use designations and parking requirements. Based on prior experience analyzing potential development options in other downtown areas throughout California, we reviewed relevant technical studies provided by the City, including market studies, financial analyses, pro formas of similar developments, engineering studies and appraisals.
Seifel performed financial analyses of alternative development scenarios, utilizing market pricing data, absorption rates, land values and development costs. Our work included recommendation of potential land use and parking requirement modifications that would be economically feasible (for both near and long term), particularly for new medium- to high-density residential development.
The amended Downtown Specific Plan was adopted June 2011 and readopted January 2012.