After a year-long competition, the U.S. Navy has chosen a development team led by San Diego-based Manchester Financial Group to redevelop a 70-acre military campus in the city's Midway District.
Manchester will partner with Virginia-based Edgemoor Infrastructure and Real Estate on the redevelopment of two large parcels that straddle the Pacific Highway and include the Navy's NAVWAR facilities.
The partners, who are expected to enter into an exclusive negotiation agreement (ENA) with the Navy, each will take a 50% stake in the project, according to a report in the San Diego Union-Tribune.
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