San Diego has given the Midway Rising development team a one-year extension to finalize a deal for a redo of the city's 48-acre sports arena site into a mixed-use project, which includes 4,250 residential units.
In 2022, the city selected a partnership between market-rate housing developer Zephyr, affordable housing builder Chelsea Investment Corp. and sports-and-entertainment venue operator Legends to redevelop the Midway District site that features the aging Pechanga Arena San Diego.
The Kroenke Group, a real estate firm owned Stan Kroenke, the billionaire owner of the LA Rams NFL franchise, in June 2023 acquired a 90% ownership stake in the development, known as Midway Rising.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
