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Is Seaport Village About to Be Replaced with an Arena?

By Mike in Downtown News|Events with 0 Comments

If you live in San Diego, you’ve likely heard something about the possible changes to come regarding one of the city’s most popular tourist stops. By the time you read this, the proposal to redevelop Seaport Village may have already been approved. According to the minutes from an October 12th City Commission meeting, the Gafcon development team is close to being selected as the management entity in charge of this ambitious project.

At least two Commissioners hinted Gafcon might get the vote of approval so the early stages of the project could begin in early 2017. The immediate goal is to complete all feasibility studies and environmental impact reports so a coastal development permit can be obtained by 2019.

At least one of the project management bidders, AEG, has proposed construction of a sports arena as part of the future Seaport San Diego. AEG is the development firm behind the successful Staples Center of Los Angeles. Should their bid be accepted, the new arena could host NBA and NHL franchise teams.

Basketball fans are already speculating whether the Los Angeles Clippers would move back to their original San Diego home if the 18,000-seat arena ends up being built. This would be a tough decision for Clippers owner and former Microsoft CEO Steve Ballmer to make. When he assumed ownership of the team a couple of seasons ago, fans were concerned he would take the team to Seattle.

With or without the Clippers, the arena project would be a great boost to the downtown San Diego real estate market. It is important to note the Seaport project will likely go on even if the arena is not approved, which means the waterfront may still be revitalized with hotels, parks, restaurants, upscale shops, attractions, small museums, and even a learning center perfect for the entire family.

This new revitalization to the city could have a significant impact on the real estate market, which means now is the time to act if you’re interested in purchasing one of the many downtown San Diego condos, lofts, or penthouses currently on the market. If you’re interested in seeing some of these properties, get in touch with 92101 Urban Living at 619-649-0368. We’re here to help you find your downtown dream home. ')}