San Diego Project Attracts Developers From Near And Far
The opportunity to redevelop San Diego’s Seaport Village is attracting developers from around the nation. The Unified Port of San Diego received six proposals yesterday from companies hoping to remake this 13.2-acre waterfront retail center. Bidders included three local firms, Gafcon, Manchester Financial Group and OliverMcMillan, as well as Denver-based McWhinney, Great Western Pacific of Seattle, and Ripley Entertainment of Orlando, the San Diego Union-Tribune reports.
The port will release proposal summaries in July. Several bidders are not developers, but want to offer ideas for the project. Locally based JCJ Architecture has designed a vision that includes a soaring hotel and a massive waterfront arts and entertainment center. Students at the UCSD Corky McMillin Center for Real Estate also have developed a concept that calls for a hotel tower (pictured).
Great Western Pacific of Seattle has teamed up with Santa Monica Seafood Co to propose developing three acres with a fishing theme, including restaurants and a fish market. American Youth Hostels submitted a proposal to incorporate a 200-bed hostel into a larger developer’s project. The port’s overall goal in redeveloping the site is to increase rent revenue. Seaport Village’s current operator, Carlsbad-based Terramar Retail Centers, which will lose its lease in September 2018, pays the port $2.5M annually in rent. There are 50 shops and 17 restaurants. [SDUT]