Seaport Village, a major attraction for visitors and residents of San Diego alike, is the subject of a plan for a major redevelopment.
This July, San Diego's Board of Commissioners considered six bids from developers interested in the project, and selected an organization called Seaport San Diego for further consideration.
The plan, which carries a price tag of $1.2 billion, includes three hotels that together would have over 1,000 rooms, an observation tower standing 480 feet tall, an aquarium comprising 151,000 square feet, and a charter school with a curriculum focused on music and marine studies.
In addition, 165,000 square feet would be available for shopping, with another 141,000 square feet devoted to restaurants, and 69,000 square feet going to entertainment, meeting spaces, and cinemas. Lastly, 19,000 square feet would be earmarked for offices.
The three proposed hotel would also offer varying levels of accommodation, with one being a full-service hostelry, another offering “affordable luxury”, and the third offering accommodations such as those found in hostels.
The projected rent that would accrue to the Port of San Diego once the project is complete is about $22m, almost ten times the annual money received, which averages $2.6m annually. The project will take about ten years.
Projects like these can benefit if backers work with flyer printing companies, who can create informative mailers for area residents.
