San Diego Committee to Review Midway Rising Development Deal

San Diego officials are set to review the development and financing terms for the long-delayed Midway Rising project. The plan for the 48.5-acre Sports Arena site calls for a 16,000-seat arena, parks, and 4,254 homes, including 2,000 affordable units, at an estimated $4.2 billion. The project has faced lawsuits and remains opposed by a group that prefers a sports and recreation park.

San Diego’s Land Use and Housing Committee is scheduled Friday to weigh the development agreement and financing package for Midway Rising. The proposal covers the city’s 48.5-acre Sports Arena site and would add a 16,000-seat arena, parks and parking, plus 4,254 residences, with 2,000 reserved for lower-income renters. The estimated construction cost is $4.2 billion.

State legislation signed in late August altered California Environmental Quality Act review for the project, addressing past court setbacks. The Independent Budget Analyst found the deal fair and reasonable, estimating $884 million to $1.23 billion in ticket and rental revenue over roughly 105 years. If advanced, it heads to the full council in November; the team hopes to start work in early 2028.

Count: First para: San(1) Diego’s2 Land3 Use4 and5 Housing6 Committee7 is8 scheduled9 Friday10 to11 weigh12 the13 development14 agreement15 and16 financing17 package18 for19 Midway20 Rising21. The22 proposal23 covers24 the25 city’s26 48.5-acre27 Sports28 Arena29 site30 and31 would32 add33 a34 16,000-seat35 arena36, parks37 and38 parking39, plus40 4,25441 residences42, with43 2,00044 reserved45 for46 lower-income47 renters48. The49 estimated50 construction51 cost52 is53 $4.254 billion55. ~55. Second: State1 legislation2 signed3 in4 late5 August6 altered7 California8 Environmental9 Quality10 Act11 review12 for13 the14 project15, addressing16 past17 court18 setbacks19. The20 Independent21 Budget22 Analyst23 found24 the25