New Stadium Developments...hmmmm

[6025]

Don't worry. I'm sure the new city hall will generate lots of revenue which could then be used for other projects.

And don't forget that brand spankin' new library!

[Den60]

Looks like $200M from the Chargers and $200M from the league according to this. There is also mention of $100M from SDSU. Funny, when I go back through the years the original proposal (2003) for the redevelopment of the Q site was for $400M to build a stadium to be split equally between the Chargers and the city.

CITY, CHARGERS PAN PROPOSAL FOR NEW STADIUM
June 4, 2009
Copyright 2009 MediaVentures

San Diego, Calif. - San Diego and the Chargers have panned a proposal from developer Perry Dealy to build a 70,000-seat stadium, 16-story hotel and thousands of condominiums and apartments adjacent to Qualcomm Stadium.

Dealy asked city officials to form a task force to study the plan, but later withdrew his proposal.

In a fax sent to Dealy, the Chargers said they do not support the proposal or believe it "has a realistic chance of being implemented" because of its "extraordinary density."

Dealy said the billion-dollar project could be funded with $566 million through land sales, $302 million from borrowing against new tax revenues from the development, $200 million apiece from the Chargers and the National Football League and potentially another $100 million from San Diego State University.

It's estimated a new stadium would cost $700 million and infrastructure improvement another $300 million. Dealy said the whole project hinges on the area being designated a redevelopment zone.

The Chargers dismissed such a financing vehicle several years ago as legally and politically untenable, but Dealy said a contaminated plume of water under the stadium site clears the way for redevelopment designation.

Dealy said without that designation - which would direct tax revenue to the project and away from other government jurisdictions - the concept crumbles.

[thelightningwill]

So our team might get saved by contamination?

[thelightningwill]

We have till 2016 to build it! At least have it approved.

Comic Con people love the area, they just need more space.

Even nerds like good weather.

[Beerman]

I would expect a very sizable contribution from Colony as well. The key to the project will be that additional private funding. Now that the convention center has no other recourse to expansion, they need to get on board with this new project.

[TTK]

http://www.utsandiego.com/news/2013/oct/10/coastal-commission-convention-expansion-plan-bay

Commission OKs convention expansion

[QSmokey]

Welcome back, ComicCon!

[SDFan]

Financing mechanism still tied up in courts and will be for years. Comic Con never left...

[TTK]

Financing mechanism still tied up in courts and will be for years. Comic Con never left...

So what does this mean for the stadium? I take it it's not good news?

[SDFan]

So what does this mean for the stadium? I take it it's not good news?

prospects no worse than before this ruling. to me the downtown location is not the best choice anyways.

[Foxbatkllr]

Agreed. For a variety of reasons I don't think the Chargers convention center plan was ever going to get very far, so this news means nothing for the Chargers. They are in the same spot. Overall for the San Diego economy this is good news.

[zoom]

Acee stirred the pot a bit with this latest piece on the Chargers (potentially) leaving town. I just the comments and (although it's on ~80 replies) it appears that the masses are leaning towards letting the team leave.

http://www.utsandiego.com/news/2013/oct/12/chargers-blackout-convention-center-acee/