California + San Diego + Apartments | April 25, 2022

Kidder Mathews Report: San Diego Office Market Slows in 4th Quarter

Five Bidders Remain for the Midway District Remake

The San Diego City Council has voted to move forward with 5 bidders looking to remake the city’s 48-acre sports arena site in the Midway District. Proposed projects include residential towers and a new sports complex in the neighborhood surrounding Pechanga Arena.

There was a push to reduce the number of bids, but as reported in the San Diego Union Tribune, Council member Vivian Moreno said, “This is one of the biggest real estate deals in the city’s history so it’s critical that we get it right. I do not want to rush and miss an opportunity to pick the right project for this site.”

San Diego must give preference to the bid that includes the highest number of affordable residences, currently the Midway Rising proposal from Zephyr Partners which offers 2,000 units. One stumbling block is a 30-foot building height limit in the Midway District, that the city is working to change.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.