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| Overview |
| Known
as the “Gateway to the Peninsula”, Daly City is located at the
northernmost edge of San Mateo County adjacent to San Francisco
and extends from the Pacific Ocean on the west to nearly San
Francisco Bay on the east.
Daly City, central to two of the Bay Area’s major job
growth zones of San Francisco and San Mateo counties, has become
a regional hub for retail, healthcare and small business. Because
of its central location, diversified economy, excellent transportation
links, and a growing young and productive labor force, Daly
City’s future for economic growth is bright.
Daly City’s extensive
transportation infrastructure includes Highways 101 and 82,
Interstate 280, and the Bay Area Rapid Transit (BART) system.
Interstate 280, which bisects Daly City, is a primary
transportation corridor linking San Francisco with San Mateo
and Santa Clara counties.
Daly City is approximately eight miles south of downtown
San Francisco and the San Francisco International Airport
is just nine miles from the City; both are easily accessible
by freeway or BART. Daly City is also served by the San Mateo and San Francisco
transit systems.
Among the City’s newer
projects taking advantage of its central location and superior
accessibility is Pacific Plaza.
The first two phases of this award-winning mixed-use
project features: a) a 352,000 square foot, Class A, office
building, b) a twenty-screen Century Theatres cinema complex,
and c) about 23,000 square feet of street level retail near
the movie theatre complex.
Phase III is planned for development of more Class
A office space and Phase IV is planned for a full service
hotel.
This project has been
a marketing success with rapid leasing of the office space
and the movie theatre achieving among the highest grossing
sales of Bay Area theaters.
With its proximity to BART, Sam Trans and San Francisco
Muni, Pacific Plaza is a project that also encourages public
transit and provides easy access to the San Francisco International
Airport.
Pacific Plaza has won
the following awards:
‡
November 2002: Metropolitan Transit Commission’s
Award of Merit
‡
March 2003: California Redevelopment Association’s
Award of Excellence
‡
April 2003: San Francisco Business Times: Best
Project – Community Impact /Suburban
Daly City’s retail sector
continues to flourish as population growth adds to the already
high demand in the area.
Three major regional shopping areas are within the
City: a) The Mission Street retail corridor, which borders
San Francisco; b) Serramonte Center, a 860,000 square-foot
regional shopping center located on Interstate 280; and c)
Westlake Shopping Center, another regional shopping center
of 620,000 square feet that is currently undergoing extensive
renovation. Taxable
retail sales are among the highest and fastest growing of
all metropolitan areas in the county.
In total, Daly City boasts approximately 3.1 million
square feet of retail space.
Medical services are another
important aspect of the Daly City economy.
Seton Medical Center is the City’s largest employer
with over 1,500 employees.
This is an acute care hospital with 357 beds.
Its reputation as one of the leading medical facilities
in the country has encouraged the development of additional
clinics and laboratories adjacent to or near the hospital.
These include the Seton Medical Office Center, San
Francisco Heart Institute, the Spine Care Medical Group, the
San Francisco Neuro-Skeletal Imaging Center, and the Physician’s
Medical Center.
Among the newest additions to Daly City’s health care
field is Kaiser Permanente with 130,000 square feet of medical
offices and clinics in a new building at 395 Hickey Boulevard
near Interstate 280.
A considerable amount
of Daly City’s economic growth is attributed to its young,
skilled and productive labor force.
Six colleges or universities are within a ten-mile
radius, and twelve more are within a 50-mile radius.
According to the latest Census, nearly 78% of the City’s
population is over eighteen, only 12% are of retirement age
and the median age is 35.
Of Daly City’s total labor force, approximately half
are working in local jobs--a participation rate close to 50%.
To nurture the growth of the City’s labor resources,
small business development has become a focus of the City’s
economic development program.
The Daly City Business Center is operated by the City
and provides a full range of support services and amenities,
with everything already in place to give your business the best
possible foundation for future success. The Center offers
plenty of human support from other businesses throughout the
community. The Enterprise Center, located within the Business
Center, provides business counseling and technical assistance
for all small businesses in Daly City. |
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| Daly
City's Demographic and Economic Base
|
| Population |
| Daly
City has experienced a significant increase in population over
the last four decades with a steady increase of over ten percent
growth in the past ten years.
According to the California Department of Finance, Daly
City has a current population estimated at 103,269, which makes
it San Mateo County’s largest city by population.
The City is expected to remain in this position for the
next twenty-five years according to the Association of Bay Area
Governments (ABAG). |
| For
a summary of Daly City's 2000 census population, click
here. For more detailed census information, visit
the U.S.
Census Bureau website--your source for population, housing,
economic, and geographic data. |
|
| Labor
Force and Major Employers |
|
Daly City has a labor force of 51,850 (mid-2004 estimate).
Based upon ABAG’s estimate of 25,320 local jobs, this equates
to a participation rate of about 49%.
Approximately 51% of Daly City’s employed labor force
works in San Francisco, about 17% work in either Daly City or
South San Francisco and the remainder work in other Bay Area
communities. As of mid-2004, Daly City posted an unemployment rate
of 5.3%, below the 6.1% statewide rate. |
| Daly
City Employment |
| Daly
City's economy is highly diversified, ranging from professional
service providers to retail and wholesale trade and manufacturing. |
|
| Major
Employers in Daly City |
|
Company |
Type of Business |
Employees |
|
Seton
Medical Center |
Medical
Services |
1,580 |
|
Jefferson
School District |
Education |
1,418 |
|
City
of Daly City |
Government |
775 |
|
Target
@ Serramonte |
Retail
center |
610 |
|
U.S.
Postal Service |
International
Mail Facility |
584 |
|
Cow Palace |
Event Center |
548 |
|
Genesys Telecommunications Lab. |
Telecommunications software |
380 |
|
St. Francis Convalescent |
Health Care |
350 |
|
Macy’s |
Retail
center |
300 |
|
Average
Income and Households |
|
According to the Association of Bay Area Governments (ABAG)
“Projections 2005”, the mean household income for 2005
in Daly City is anticipated to be $86,100, compared to San Francisco’s
$86,000, San Mateo County’s $114,100; and the Bay Area’s $89,100.
Household size has increased in Daly City from 2.8 persons
per household in the 1990 Census to 3.3 persons per household
in the 2000 Census. However,
the most recent estimates from the California Department of
Finance (1/1/2004) show that the average household size in Daly
City remains unchanged from the 2000 Census. |
Ethnicity |
|
Daly City has a varied ethnic composition with the distinction
of having the second largest Asian community in the United States.
In a comparison of cities with a population of 100,000
or more, the 2000 Census showed that the top two cities with
the highest Asian population are Honolulu and Daly City.
Daly City’s ethnic mix is shown as follows: |
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|
| Housing |
One
of Daly City's greatest assets is its affordably priced and
conveniently located quality housing. Many homes have spectacular
views of the Pacific Ocean, the San Francisco Bay or some
of the most picturesque golf courses in the country--the Olympic
Club-Lakeside, the San Francisco Golf Club and Lake Merced
Golf and Country Club.
Daly
City has approximately 31,600 residential housing units according
to the California Department of Finance. Of these units, slightly
over 50% are single-family detached homes. according
to the California Association of Realtors, the median home
sale price in Daly City has averaged approximately $585,000
over the last six months of 2004. This is competitively
lower than the median sales prices of $660,000 and $677,300
reported for San Mateo And San Francisco counties respectively
over the same period.
According
to public records, Daly City has approximately 6,900 apartment
units that are studios, one-bedroom or two-bedrooms.
The estimated total stock of Daly City apartment units is
less than 8,000, including units that are three-plus bedrooms.
Over the last six months in 2004, asking rents have generally
ranged from $850 to $1,250 per month for one-bedroom units
and from $1,100 to $1,700 per month for most two-bedroom units.
Daly
City has also been nationally recognized for promoting the
safety of its existing housing supply through its award winning
Project Homesafe and its progressive second-unit/bonus housing
ordinance. The ordinance encourages the legalization of owner-occupied
homes with in-law/secondary units. Over 2,000 Project Homesafe
permits have been issued since the beginning of the program.
The
City also sponsors a housing rehabilitation loan program through
its Department of Economic & Community Development. Since
1983, 430 loans/grants averaging $10,000 have been granted
for home repairs and modifications.
|
| Transportation |
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Air Travel: The San
Francisco International Airport (SFO) is located about
9 miles to the south or a 15-minute ride from the Daly
City BART station. SFO has 58 passenger carriers. The
Oakland International Airport (OAK) is located about 26
miles to the east and has 12 passenger carriers. OAK is
about 34 minutes from Daly City by motor vehicle (non-commute
hours) or about 60 minutes by BART and BART Shuttle.
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Motor Vehicle Travel: Two major freeways serving
Daly City are U.S. Highway 101 and Interstate 280. Interstate
280 essentially bisects Daly City geographically as well
as in terms of the areas with the highest commercial and
residential density. Interstate 280 is less congested
than U.S. 101 and therefore offers a preferred route into
San Francisco (and locations further north and east) as
well as southern peninsula locations.
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Public
Transportation: As stated for “air travel”,
Daly City is served by the
Bay Area Rapid Transit District (BART)
system,
which provides access throughout the East Bay, San Francisco
and the San Francisco International Airport. BART
also has an intermodal station at Millbrae that allows
BART riders to access Cal Train that offers connections
with San Jose and beyond. Daly City has two BART
stations. The
San Francisco Municipal
Railway
(MUNI)
and the San Mateo
County Transit District (samTrans)
also serve Daly City. Bus service is provided throughout
the City and converges at the Daly City BART stations
and at the top of Mission Street (“Top-of-the-Hill”) at
John Daly Boulevard.
|
| Quality
of Life |
Daly
City offers a wide variety of recreational activities. Daly
City's scenic seven-mile coast is accessible to the public.
San Bruno Mountain, with 2,063 acres of diverse park land,
offers spectacular views of the entire Bay Area and the Pacific
Ocean. Lake Merced Golf and Country Club is located within
Daly City and the Olympic Club-Lakeside and the San Francisco
Golf Club are adjacent to Daly City's northern boundary. The
City's Parks and Recreation Department offers more than 2,000
classes in activities that include ballroom dancing, quilting,
first aid, and various intramural sports. Over 15,000 adults
participate in these classes and more than 260 teams compete
in the youth sport leagues. Daly City's Public schools fall
within certain districts that have local district administrators
and elected school boards.
There
are three elementary (grades K-8) school districts serving
Daly City: Brisbane, Bayshore, and Jefferson Elementary. Jefferson
Union High School District, the largest school district, serves
most of Daly City's grade 9-12 students, as well as Brisbane,
Bayshore, Colma, and portions of San Bruno and the City of
Pacifica. The South San Francisco Unified School District
also serves residents in the Serramonte area of Daly City.
There
are also several private and parochial schools accessible
and convenient to Daly City residents beginning with preschool
through graduate school.
Six
colleges or universities are located within a ten mile radius
of Daly City and an additional twelve colleges or universities
are located within a fifty mile radius, including U.C. Berkeley,
Stanford, San Francisco State University, and U.C. San Francisco.
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| |
| Current
and Future Developments |
Growth
opportunities exist for new and existing businesses to enjoy
the synergy and provide services to many projects that are
currently under development in Daly City. Some of these projects
are briefly summarized as follows:
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Pacific
Plaza: A
three-phase mixed-use development composed of approximately
663,000 s.f. office and retail space, a 20-screen (3,950
seat) cinema, and a hotel. Located next to the Daly
City BART station, this project is expected to generate
over 3,000 new jobs when completed. Currently, the
first two phases of this award-winning mixed-use project
have been completed. Phase I features a 350,000
square foot, nine-story Class A, office building. Phase
II features a twenty-screen Century Theatres cinema complex
and about 23,000 square feet of street-level retail near
the movie theatre complex. This project has been
a marketing success with rapid leasing of the office space
and the movie theatre achieving among the highest grossing
sales of Bay Area theaters. Phase III is planned
for development of 270,000 s.f. of Class A office space
and Phase IV is planned for a ten-story full-service hotel.
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Landmark:
This is a two-phase office, retail
and residential development. The first phase will
consist of approximately 17,000 s.f. of retail space along
Mission Street and 95 residential condominiums.
At least 15% of the residential units will be provided
as affordable housing units. The first phase will
also include 395 off-street parking spaces to serve employees,
customers, residents, and visitors of the War Memorial
Community Center. A portion of the parking spaces
will be available for the second phase of the project.
The second phase is proposed for approximately 76,000
s.f. of office and retail space when supported by the
market. The Landmark project is anticipated to commence
construction in the spring of 2005.
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Serramonte
Corporate Center:
Located at Hickey Boulevard and
Interstate 280, this 130,000 s.f. medical building is
the new home of Kaiser Permanente. The building
was completed in the fall of 2003 and has medical office
and clinics.
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Westlake
and Serramonte Shopping Centers:
Both
of these regional shopping centers undertook major renovation/expansion
programs. Westlake, undergoing a major redesign
and refurbishment program, is negotiating with several
national tenants with the focus on expanding the market
attraction and neighborhood services. Serramonte
Shopping Center has undergone a face-lift with attractive
interior improvements.
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| City
Finance and Taxes |
| Retail
Sales Tax |
State
share |
County |
County
Transit |
City |
Total |
| 6% |
0.25% |
1% |
1% |
8.25% |
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| Payroll
Tax |
0% |
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| Parking
Tax |
0% |
|
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| Transient
Occupancy Tax |
10% |
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| Bond Rating: |
Moody’s
Investor’s Services Inc.: |
Aaa |
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Standard
& Poor’s Corporation: |
AAA |
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(Daly City has no significant outstanding public
assessment bonds) |
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| If
you are a new or existing business interested in locating or
relocating within Daly City, please visit Commercial
Opportunities where you will find opportunities to rent,
purchase, or list available commercial space. |
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