San Diego selects team to transform Sports Arena property
Mayor Kevin L. Faulconer announced August 29 that a City of San Diego selection committee has picked a proposal by Brookfield Properties and ASM Global to redevelop the Sports Arena property into a vibrant destination that incorporates a mix of entertainment, housing, parks and office and retail.
Mayor Faulconer said:
San Diego has assembled an extraordinary team with a proven track record to transform the San Diego Sports Arena. Our collective goal is to pursue a brand new sports arena that is surrounded by a thriving community that is second to none. A redevelopment like this is a once in a generation opportunity, and I’m confident that ASM and Brookfield’s international experience will breathe new life into this area, and create a Sports Arena district that makes San Diego proud.
The pairing of Brookfield Properties and ASM Global represents a partnership that combines global resources and expertise with more than 40 years of doing business in San Diego. Brookfield Properties is a fully integrated, global real estate company that specialises in the creation of innovative, sustainable and authentic places where people can learn, work, shop and live. ASM Global is the world’s leading venue management and services company, connecting people through the power of live experience at more than 325 venues around the world including, San Diego’s Pechanga Arena, STAPLES Center and L.A. Live in Los Angeles, The O2 in London, Mercedes-Benz Arena in Berlin, and T-Mobile Center in Kansas City, to name but a few.
Brookfield Properties and ASM Global have a visionary concept to transform the Sports Arena property into a vibrant community with acres of public parks, new homes, office space and a modern entertainment venue – all part of an activated mixed-use entertainment district. This vision could generate approximately 3,200 jobs and an annual economic impact of more than $300 million.
Zach Adams, Vice President of Development, Brookfield Properties said:
Brookfield Properties and ASM Global appreciate the City’s confidence in our team and vision for the iconic Sports Arena site. Our team has a long local history in San Diego, and an excellent track record building and managing sports arenas and mixed-use districts around the world. We are excited about leading a collaborative conversation with the community, and we plan to form a community advisory panel to help shape the project and provide ongoing input to our team.
Chuck Steedman, Executive Vice President of Strategy and Business Development, ASM Global, said:
Everyone who lives locally has an individual experience at the Sports Arena, making public engagement so important as we craft the future of this site. The future of the Sports Arena site is bright as we are committed to creating a world-class destination by delivering an exceptional mixed-use development and working towards a collective goal of building a new Sports Arena.
The announcement comes after the selection committee, made up of a diverse group of City staff and external consulting firm, JLL San Diego, reviewed and scored two responsive bids to the Request for Proposals (RFP) that was issued in February. Scoring categories consisted of responsiveness, a vetting of financial models, developer experience, development economics and feasibility, and community feedback.
The redevelopment area encompasses approximately 48 acres in the Midway-Pacific Highway Community area, located in west-central San Diego. From its historic beginnings as part of the delta of the San Diego River to the rise of the military and aviation industry in the 1920s, the Midway Community has played a role in San Diego’s growth and transformation. In 2010, the City of San Diego, in coordination with local community members, began updating the Midway-Pacific Highway Community Plan, which serves as a blueprint for the future development of the neighborhood.
The RFP and redevelopment concepts for San Diego’s Sports Arena area were designed to help realise the vision put forward in the Community Plan.
The City, ASM Global and Brookfield Properties will now begin negotiations on the final scope of development for the area. The deal is anticipated to be brought before City Council in 2021.
Source & image, courtesy: sandiego.gov
ASM Global’s Director of Business Development – Europe, Tom Lynch, is one of some 40+ industry experts that will be imparting insights during the 2020 hybrid edition of ALSD International – now less than 6 weeks away! Tom heads up business development in Europe, leading on new venue development and mobilisation, as well as developing partnerships and M&A strategy for new and existing markets
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The 2020 ‘hybrid’ edition of ALSD International – Europe’s leading event for the Premium Seat & Sports Hospitality sector – will focus on increasing revenue via new builds, renovations, service expansions & technology, and reopening with confidence. The physical event – being hosted at Liverpool FC’s Anfield Stadium, October 12-13 – will be fully virtualised, welcoming both in-person and remote attendees.
ALSD International 2020 will feature a high-level conference (with sessions being streamed), an exhibition hall (physical & virtual), behind-the-scenes tours of Anfield, Goodison Park and M&S Bank Arena (physical & virtual), and numerous networking events (physical & virtual), ensuring optimised opportunities to knowledge-share, network and do business.
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