San Diego County Supervisors Seek Partnership with City on Sports Arena Redevelopment – NBC 7 San Diego
The San Diego County Board of Supervisors agreed Wednesday to explore a partnership with the City of San Diego on an enhanced infrastructure financing district at the Midway Rising/Sports Arena site.
Wednesday’s action by the supervisors does not commit the board to any agreement, but rather directs county staff to explore the option of forming a financial district with the city.
EIFDs are a type of tax increment financing that cities and counties form to help finance economic development projects. Any EIFD at the Midway Rising site would only capture new property tax growth from the developed project site and would not impact how existing property taxes are distributed to school districts, city and county programs.
“Agreing to explore partnership with the city was the right thing to do for Midway District’s existing residents, future residents and for the future of affordable housing in San Diego County,” said Supervisor Terra Lawson-Remer . “This is the first of many steps in determining our involvement, and I am pleased that my colleagues on the Board of Supervisors see the opportunity that could exist with this vision for affordable housing in District 3.”
The Midway Rising group, which includes Zephyr Partners, Chelsea Investment Corp. and Legends Global, entered into an exclusive negotiation agreement with San Diego in September 2022 to redevelop the 48-acre former Sports Arena site in the Midway District.
“We are grateful for the County of San Diego’s partnership in exploring the creation of a special district to fund public infrastructure in the area to improve traffic flow and increase pedestrian safety, among other benefits,” according to San Diego Mayor Todd Glory. “Working together, we have the opportunity to transform Midway into a vibrant neighborhood and support our region’s commitment to delivering 10,000 affordable homes over the next decade.”
Midway Rising promises a new arena and 2,000 affordable homes in a total of 4,250 residential units, as well as 13 acres of parks, plazas and open spaces.
The council on Wednesday also directed staff to investigate the possibility of a Regional Housing Needs Assessment credit sharing model for affordable housing units.
“The city and county have the opportunity to support the infrastructure investment needed to build a world-class entertainment destination with thousands of new affordable and market-rate homes that will spark new growth and development throughout the Midway community.” , said San Diego. Councilwoman Jennifer Campbell.
On Friday, the City of San Diego’s Historic Resources Board voted to give Pechanga Arena — the current name of the 58-year-old Sports Arena — historic recognition. The venue was built in 1966 and has hosted artists ranging from Led Zeppelin and Elvis Presley to Justin Bieber and Shakira. Dozens of sports teams have used the arena as a field/ice/court since its construction, which has brought its own set of public debate.
The site destroyed much of the Frontier neighborhood, a racially integrated community made up largely of people who moved to the city during World War II for shipbuilding and other wartime businesses.
Although the community was always intended to be temporary, it included “3,500 units with the goal of providing affordable housing for 15,000 defense workers, military veterans and their families,” according to a city historical note. Critics derided the neighborhood as a “slum,” while its defenders said it provided affordable public housing.
