EPS has supported the City of Anaheim in its consideration of the proposed ocV!BE mixed-use entertainment, hospitality, and residential project adjacent to the Honda Center arena. Approved unanimously in September 2022, this 100-acre master planned village will create a mixed-use destination neighborhood by expanding the existing sports venue with new shopping, dining, entertainment, hotels, office space, and 1,500 units of market-rate and affordable housing.
To support development agreement negotiations and overall project evaluation, EPS crafted an independent assessment of project viability and the likely tax benefits to the City. EPS provided City decision makers with clear and unbiased confirmation that ocV!BE’s community benefits package was appropriate given the value created by the project. EPS further supported City staff with required documentation and presentation materials during Council hearings.
EPS’s financial feasibility and fiscal benefit study concluded that the project was financially burdened by significant cost of required and site improvements, including replacement parking structures, new urban parks, and public infrastructure. However, consideration of aspirational market performance and moderated return expectations revealed that the project may be achievable. EPS also identified the proposed advertising signage program as an important contributor to project value. The technical analysis prepared by EPS is available here.
