Texas Apartment Developer Proposes Project On Chargers' Planned Stadium Site
Dallas-based Mill Creek Residential Trust, a multifamily developer with 50 projects nationwide totaling about 15,000 units, has submitted a proposal to Civic San Diego for a 383-unit apartment project, called The Modera, smack in the middle of the site where the Chargers plan to build a $1.8B stadium-convention center annex. A ballot measure that would help fund the “convadium” project is headed for the Nov. 8 ballot, but that hasn’t put the brakes on this Texas developer’s designs on the site.
The Chargers' proposed site is bounded by 12th and Imperial avenues and K and 16th streets. The Modera’s proposed site is on the southeast corner of 14th and K streets and is one of several privately owned parcels the city will have to acquire if voters approve the ballot initiative to fund the convadium project. This measure would raise the hotel room tax from 12.5% to 16.5% to fund it.
The team and NFL have pledged $650M, two-thirds of the $1B cost for the stadium. The remaining $800M would fund the convention center complex, which includes ballrooms, meeting rooms and exhibition space; pay the remaining debt on Qualcomm Stadium; and provide funds for tourism marketing.
Mill Creek development manager David Potter told the San Diego Union-Tribune the project could be approved prior to the election if his firm’s architects, Carrier Johnson + Culture, revise project plans to Civic SD’s satisfaction. MTS chief of staff Sharon Cooney told the planning committee a residential use is incompatible with maintenance operations at the bus yard, also on the Chargers proposed site, because it is a noisy business. Planning committee chairman Rich Geisler noted the city had rejected an apartment proposal near the Solar Turbines industrial plant on Pacific Highway for a similar reason. [SDUT]