Manchester Financial Group says that it has secured the necessary financing to start construction of its Manchester Pacific Gateway development in downtown San Diego.
The $1.5-billion project to redevelop Navy property on San Diego’s waterfront with hotels, offices and restaurants will break ground next month, the San Diego Union Tribune reported.
The 3-million-sq.-ft. project will occupy eight city blocks. It calls for multiple office towers, including a 17-story, 372,000-sq.-ft. Navy headquarters; an 1,100-room convention hotel; a retail-lined paseo; and a museum on more than 12 acres south of Broadway between Pacific Highway and Harbor Drive, according to the Tribune.
Completion of some of the office buildings, including the new Navy headquarters, is targeted for the end of 2020, while the remainder of the project is expected to be completed by mid-2021.
