The plan would build a new arena, a hotel, retail, parks and 4,250 apartments on 48 acres of public land in San Diego's Midway District.
Gloria plans on presenting his recommendation to the council's Land Use and Housing Committee on Sept. 8, followed by a vote of the full council on Sept. 13. He pledged to release"all supporting documents" relating to the redevelopment plan by Friday.
If the council approves Midway Rising, city officials will still have to negotiate more details with the development team led by Encinitas-based Zephyr. Also on the team are affordable-housing developer Chelsea Investment Corp. and Legends, which built the SoFi Stadium home to the Los Angeles Rams and Chargers.
Key details yet to be determined include how much revenue the city will gain from the project and how the affordable housing will be financed. Some council members expressed a desire to see the development team shoulder the cost of building the affordable housing, though that would likely require the city to forgo revenue resulting from the property's ground lease.a previous redevelopment plan selected by former Mayor Kevin Faulconer because the city did not follow the Surplus Land Act.
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