City Picks 3 Teams for Negotiations in Sports Arena Development

by on May 24, 2022 · 0 comments

in Ocean Beach

Artist rendition of Midway Rising proposal.

Midway Rising, HomeTownSD and Midway Village+ On City’s Short List

ON Monday, May 23, the San Diego City Council choose three of the five teams vying to redevelop the 48-acre sports arena site in the Midway District. The council — in a unanimous vote — picked development teams Midway Rising, HomeTownSD and Midway Village+ — all recommended by the mayor and the city’s real estate department.

As today’s San Diego Union-Tribune surmised,

The decision, which departs from an April vote by the city’s Land Use and Housing Committee, appeared to be primarily based on guidance from California’s Department of Housing and Community Development. The state agency requires the city to prioritize teams with the greatest number of residential units reserved for low-income families, as defined by the recently amended Surplus Land Act. …

The state defines affordable housing as units reserved for families making 80 percent of the area median income. The median income for a family of four in San Diego is now $106,900, according to the state’s 2022 list of income limits for affordable housing units.

The city will now begin negotiations with the three teams.

Midway Rising

The Midway Rising proposal is definitely favored by the city. From Encinitas-based Zephyr Partners it has the most affordable units in its offer –to the lowest income levels — or 2,000 deed-restricted units with an average affordability of 40 percent of the area median income.

Zephyr Partners is teamed with sports-and-entertainment venue operator Legends and affordable-housing builder Chelsea Investment Corp. on a plan that calls for a total of 4,250 residential units, a new 16,000-seat arena and 20 acres of open space. The project also includes a 200-room hotel and 250,000 square feet of commercial space concentrated in a central public plaza.

HomeTownSD

HomeTownSD from Monarch Group has a proposal with 1,726 affordable units.

Midway Village+

Midway Village+ from Toll Brothers Housing — with 1,610 affordable units,  was included in the short list so that the city can have options as it performs due diligence on the teams.

ConAm Group’s Neighborhood Next proposal and Brookfield Properties’s Discovery Midway bid have been eliminated from the competition.

Neighborhood Next proposed the highest total number of residential units and the third-highest number of affordable units, but failed to include an arena operator on its team.

Discover Midway ranked last in affordable housing, proposing the fewest units at the highest rates. The group’s plan called for 1,035 affordable units with an average affordability of 56 percent of the area median income.

The huge irony here is that Brookfield Properties was selected by then-mayor Faucloner as his fave redevelopment team. That was many moons ago.

And don’t forget, dear readers, none of this will amount to a hill of beans if voters don’t re-approve the destruction of the 30-foot height limit in the Midway District.

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