Just two years into its redevelopment assignment with San Diego, Pacifica Enterprises has received a 10-year lease extension through 2038 at Belmont Park. In turn, the city is expected to collect in excess of $70M in rents over the life of the term. Pacifica took over the seven-acre boardwalk area after the former manager defaulted on its lease in 2012, and has since commenced sprucing up the ailing attraction with a $29M infusion, reports the San Diego Source. Improvements included repairing the Wave House, and bringing in new retailers and new attractions. Now the firm is promising to spend nearly $6M to renovate the now-closed indoor pool, The Plunge. [SDS]
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