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.
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