The staff recommendation from the city's real estate department, along with a financial analysis from an outside consultant, comes days after Mayor Todd Gloria also recommended that the city choose Midway Rising.
The city of San Diego’s real estate department on Wednesday formally recommended Midway Rising as the winning contender for remaking the 48-acre sports arena site in the Midway District, citing the project’s commitment to a high number of affordable housing units.
“Following the city’s site visits, review of reference letters and receiving JLL’s analysis, it was clear that, while all of the teams were capable of delivering a project, Midway Rising would not only receive “first priority” under the SLA , but would also be the best partner for the city,” the staff report concludes. “They demonstrated a clear and cohesive vision for the full site and stability throughout the process.
Its development team is comprised of market-rate housing developer Zephyr, sports-and-entertainment venue operator Legends and affordable-housing builder Chelsea Investment Corp. City staff pointed out in their report that as an extra precaution, they reached out to the state housing department to gauge its reaction to recommending Midway Rising based on the team’s level of affordable housing. The department, the staff report said, was pleased with that decision and the city’s willingness to give “first priority” under the Surplus Land Act to the developer with the highest number of affordable dwellings.
Like Midway Village +, HomeTownSD from Monarch Group also sought to beef up the number of its affordable units. Several days ago, it notified the city that it would like to add at least 300 more affordably priced dwellings to its submitted total of 1,726, the city’s real estate department reported. HomeTownSD decided to do so after it became clear to the development group that affordable housing was a “singular priority” in the evaluation process, states the staff report.
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