Name: San Diego mayor approves sale of former Chargers stadium to SDSU
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San Diego mayor approves sale of former Chargers stadium to SDSU

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Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego has officially sold off one of its iconic landmarks, the stadium that once housed the San Diego Chargers, to San Diego State University.Mayor Kevin Faulconer announced he approved the sale Thursday of the 135-acre site. The roughly $88 million deal gives the university SDCCU Stadium, which has been called Jack Murphy Stadium and Qualcomm Stadium in the past, and its surrounding land. Signed, sealed, delivered! The 's sale of the Mission Valley stadium site to is nearly complete!One of the biggest parking lots on the West Coast will soon be transformed into a world-class university campus full of parks, a stadium and housing — Kevin Faulconer (@Kevin_Faulconer) The project aims to break ground Aug. 17, said Jack McGrory, a California State University board member who assisted with negotiations on the Mission Valley deal.“It’s a fast project. We’re moving quickly,” he said Friday. AdvertisementMcGrory said demolition of the stadium will be further down the line, with the first priority being the construction of a new 35,000-seat football stadium on the northwest section of the site. It is supposed to be completed in time for the Aztecs’ 2022 football season. Faulconer said on Twitter that the sale was “signed, sealed, delivered” and showcased a picture of his signature. “One of the biggest parking lots on the West Coast will soon be transformed into a world-class university campus full of parks, a stadium and housing #GoAztecs,” he wrote. The City Council approved the sale in late June in an 8-1 vote. Only Councilman Scott Sherman, whose district includes Mission Valley, voted against the deal. He expressed concern that the agreement was too vague and could be a loss of millions of dollars to the city in fees and taxes.A 34-acre river park will be developed at the same time the new stadium is built. The sale was required by voters as part of that called for the site to be sold to the university. It defeated another initiative called SoccerCity that looked to bring a Major League Soccer team to the city. Both measures came after the Chargers football organization to move to Los Angeles. But the NFL team was not the only major name to grace the site, with the San Diego Padres playing there for more than 30 years.Plans for the site, approved by the California State University system’s Board of Trustees, include 86 acres of parks, recreation, and open space, including the river park; and 1.6 million square feet of office and research space that can be used by the campus for education, entrepreneurial, and technology programs.Housing and retail are also expected at the site with plans calling for 4,600 housing units with 10 percent set aside for low-income households; a 400-room hotel: and 95,000 square feet of campus retail.University officials say the $3.5 billion project will be built over 10 to 15 years. Staff writer Lori Weisberg contributed to this article. Get U-T Business in your inbox on Mondays Get ready for your week with the week’s top business stories from San Diego and California, in your inbox Monday mornings. You may occasionally receive promotional content from the San Diego Union-Tribune. Show Comments Load More Advertisement Advertisement AdvertisementAdvertisementAdvertisement

Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego has officially sold off one of its iconic landmarks, the stadium that once housed the San Diego Chargers, to San Diego State University.Mayor Kevin Faulconer announced he approved the sale Thursday of the 135-acre site. The roughly $88 million deal gives the university SDCCU Stadium, which has been called Jack Murphy Stadium and Qualcomm Stadium in the past, and its surrounding land. Signed, sealed, delivered! The 's sale of the Mission Valley stadium site to is nearly complete!One of the biggest parking...

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Phillip Molnar

PhillipMolnar

The San Diego Union-Tribune, the region's leading news source since 1868. Follow our journalists, too: http://j.mp/UTstaff

San Diego mayor approves sale of former Chargers stadium to SDSU

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