The Midway Village+ team says it has submitted an updated proposal to redevelop the 49-acre Sports Arena site to Mayor Todd Gloria and the City of San Diego.
The Dec. 3 update includes new housing, a 12-acre Central Park, three sports and entertainment venues including a new arena, and other public benefits, the developers say.
Revitate has joined as a master developer alongside BRIDGE Housing and Toll Brothers.
“Midway Village+ would transform one of the city’s most historically underperforming districts into a dynamic urban village, local economic engine, and cultural destination,” the proponents say in a statement.
“Central to the vision is a commitment to respond directly to the desire expressed by Mayor Todd Gloria and other city leaders for more affordable and attainable housing. The Midway Village+ plan commits to build more than 1,000 affordable homes for low- and middle-income residents, and thousands of new housing units in total.”
Developers BRIDGE Housing, MAAC, and Waterford Property Company will lead development of the low- and middle-income housing. The remaining homes will be a variety of market rate products developed by Toll Brothers, the statement says.
“We believe creating a variety of homes for people at all levels of affordability will make a more equitable and diverse community,” said Midway Village+ project David Malmuth “It’s why our plan exceeds the state requirement of 25 percent affordable and goes well beyond that – more than half the homes will be affordable or built for middle-income or working families.”
Revitate (co-owners of NBA’s Sacramento Kings) will lead the development of a new arena, seating approximately 15,000 fans with the ability to expand.
“San Diegans deserve a brand new world-class arena that creates new local jobs, new revenues for local businesses, and new access to the best sports, music, entertainment and cultural programming around,” said Kunal Merchant, Revitate Partner and Chief Operating Officer.
Revitate replaces Oak View Group, which stepped back from the bid to ensure full compliance with regulatory considerations related to its recent acquisition of Spectra, a venue management company that operates Viejas Arena and the soon-to-be completed Aztec Stadium.
In addition to the new arena, the Midway Village+ plan includes a new temporary soccer stadium for the San Diego Loyal, and a 3,500-seat indoor events center.
“We began with a heartbeat – a vibrant multitude of live, work and play activities and uses,” said Barbara Jetzer, architect for AVRP Studios. “We then stitch this rich lifestyle into the surrounding neighborhoods with interwoven restorative, organic areas and high-energy experiences, expanding this seed for change into the Midway District’s future.”