Hines JV To Reposition Mission Valley’s Riverwalk Golf Club To $2B Mixed-Use Development
A deal with Houston-based developer Hines will reposition the Levi-Cushman family’s 27-hole, 200-acre Riverwalk Golf Club in Mission Valley to a mixed-used development. The Hines-Levi-Cushman partnership project, which will be presented in phases to city council for approval over the next few years, calls for 4,000 multifamily housing units, retail, up to 1M SF of office space and an 80-acre park, the San Diego Union-Tribune reports.
The $2B development will be served by a new 140K SF Trolley station east of Via Las Cumbres that includes some retail and residential units. The entire golf course will remain operational until 2021, when residential construction will replace nine holes on the northern portion of the property. When residents begin occupying residential units in 2023, the golf course’s remaining 18 holes will be replaced by a park that will include trails, a natural habitat and possibly some recreational spaces.
Hines, which is conducting community workshops, will work to resolve community concerns about a development of this size’s impact on traffic, flooding and other environmental issues. A global developer with $80B in assets worldwide, the company has a strong track record for developing sustainable projects. Hines also developed and owns the La Jolla Commons office complex near the Westfield UTC shopping center.
Mission Valley, which is updating its community plan, will triple its density over the next 30 years, from 12,600 units to an estimated 35,100 units. Other big projects proposed include the redevelopment of the 166-acre Qualcomm Stadium to SoccerCity, with its fate to be decided by voters in November 2018. This project calls for a 23,500-seat soccer stadium, 4,800 housing units, 3.1M SF of commercial space, 450 hotel rooms and a 34-acre San Diego River Park.
Additionally, the Houston-based Dinerstein Cos. is under construction on the 305-unit Millennium Mission Valley residential mixed-used project. Civita, a $2B, 230-acre master planned community under development, will also include 4,780 residential units, 480K SF of retail, 420K SF of office space and 60 to 70 acres of parks and open space at build-out. Vancouver, Washington-based Holland Partners is also planning a 600-unit mixed-use project as part of the $80M, 40-acre redevelopment of the Town & Country Resort and Convention Center.