Dubbed "Tailgate Park," the city must develop the East Village lots expected to accommodate 800 cars. The Port Commission approved an ordinance allowing the land buy yesterday.

The port will lease the property to the San Diego Padres, which will use the lots for parking during 81 home games, playoff games and up to 10 other days of the year. It's part of the proposed $450 million ballpark district project.

The state Lands Commission must still approve the purchase but has already given conditional approval since changes were made to the plan.

Under the new deal, the Padres will not get exclusive use of the lots on game days. The Port District might have exclusive use of the lots to support events at the San Diego Convention Center and other events.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.