In a vote of four to one, with two recusals, the CCDC's board of directors has recommended that the San Diego Redevelopment Agency approve the amended and restated owner participation with the project's developer, McKinnon Properties Inc. The CCDC board has also recommended approval of the Marina Development Permit (including the granting of exceptions and design review of the basic concept/schematic drawings), as well as the Conditional Use Permit, the Comprehensive Sign Plan, and amendments to the Centre City Redevelopment Plan and Marina Planned District Ordinance. This step has brought the KUSI project one step closer to reality, although the development proposal will still be subjected to future public hearings before the planning commission and San Diego City Council/Redevelopment Agency.

In its current form, the KUSI proposal calls for a 28-story, mixed-use complex that will house a television studio and corporate offices for McKinnon Broadcasting's KUSI News, in addition to 42 condominium units, 9,900 sf of commercial space, a 123-room, five-star hotel and 480 parking spaces. Allegis Development is working on the project with McKinnon Properties. Callison Architecture Inc. has been tapped as the project architect. With groundbreaking expected to kick off in March 2005, the development is slated to rise on the block bounded by First, Second and Island avenues and J Street. Completion is currently scheduled for December 2007.