City of San Diego’s selection committee has selected Brookfield Properties and ASM Global’s proposal for redeveloping the Sports Arena and surrounding property in the US into a new destination.
Together, the companies will transform the Sports Arena property into a community that will feature a combination of entertainment, housing, parks, and office and retail.
The new destination will incorporate public parks, new homes, office space and a modern entertainment venue, all of which form part of a mixed-use entertainment district.
Expected to generate about 3,200 jobs, the redevelopment will have an annual economic impact of more than $300m.
ASM Global Strategy and Business Development executive vice-president Chuck Steedman said: “Everyone who lives locally has an individual experience at the Sports Arena, making public engagement so important as we craft the future of this site.
“The future of the Sports Arena site is bright as we are committed to creating a world-class destination by delivering an exceptional mixed-use development and working towards a collective goal of building a new Sports Arena.”
The redevelopment will be carried out on an area that covers about 48 acres in the Midway-Pacific Highway Community area, located in west-central San Diego.
The selection committee, which comprises a diverse group of City staff and external consulting firm, JLL San Diego, reviewed and scored two responsive bids to the Request for Proposals (RFP) issued in February this year.
In coordination with local community members, the City of San Diego started updating the Midway-Pacific Highway Community Plan in 2010.
The RFP and redevelopment concepts for the Sports Arena property have been designed to help realise the vision put forward in the Community Plan.
Negotiations will now start on the final scope of development for the area, with the deal anticipated to be brought before City Council next year.