With San Diego issuing new redevelopment guidelines for the Pechanga Arena property, a new bid will be submitted by the Discover Midway group, led by Brookfield Properties and ASM Global, the current operator of the facility.
Besides Brookfield and ASM Global, the Discover Midway group includes Affirmed Housing and National CORE. Their bid for the 48-acre Pechanga Arena property redevelopment will focus on a mixed-use development that includes both affordable housing and a sports and entertainment venue.
A previous redevelopment plan, reached after negotiations with multiple bidders, called for Brookfield+ASM Global Development–a partnership between Brookfield Properties and ASM Global, the current operator of Pechanga Arena–to build a new facility as part of the redevelopment of the site, which would also include 2,100 housing units, an entertainment district, retail space and more. That plan was rejected last year by the California Department of Housing and Community Development, which held that it violated a state law, the Surplus Land Act, requiring that excess government-owned land be available for affordable housing.
New redevelopment guidelines were issued by San Diego in response to the state action.
Discover Midway envisions delivering a mixed-use neighborhood that includes a variety of housing with at least 25 percent onsite designated as affordable, options for a reimagined or brand-new Sports Arena, office, retail, parks and green spaces. The team also plans to incorporate new transit, pedestrian and bicycle connections, enhancements and amenities to help expand safe, efficient, equitable, and sustainable access to surrounding communities.
“Our team is fully committed to creating a bright future for the Sports Arena site and understands the unique needs of the Midway community and San Diego,” said Jessica Jones, Senior Director at Brookfield Properties, said via press statement. “We are taking this opportunity to create an enhanced and more robust mixed-use destination that builds on our existing experience collaborating with the city, input gathered from the community and our hands-on partnership with Affirmed Housing, National CORE and ASM Global.”
“The Sports Arena site is a once-in-a-generation opportunity to add to the fabric of what makes San Diego a special place for all,” said Jimmy Silverwood, Executive Vice President at Affirmed Housing, said via press statement. “Our team, backed by experience and resources, is ready to further aid in addressing our region’s housing crisis and creating far-reaching community benefits that can be celebrated for years to come.”
Other bids are expected. A decision on a final redevelopment plan is expected in spring 2022.
Rendering of previous arena effort courtesy San Diego.
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