You might be aware that San Diego State University (SDSU) has been trying to purchase the stadium site at Mission Valley as the proposed location for a new satellite campus. Now, the California State University Board of Trustees has given SDSU the green light.
This follows the Measure G vote back in November 2018, which also supported the project. SDSU will be able to purchase the land for $87.7 million. Along with the brand new satellite campus, SDSU also will build the Fenton Parkway Bridge and a river park.
San Diego Mayor Kevin Faulconer said during a committee meeting, “We are within grasp of a modern multi-use stadium, a world-class river park for all San Diegans to enjoy, and a world-class education and research hub to ensure the SDSU legacy lives on for generations to come.”
The hope is that the stadium, which will have room for 35,000 spectators, will be constructed and ready for use by 2022. Other features of the campus will include:
- 80 acres of park land
- 1.6 million square feet of space allocated to a combination of office and research facilities
- 4,600 residential units
- 400 hotel rooms
- 95,000 square feet of retail property
- 13,192 parking spots
Needless to say, this project should be a tremendous boon for the Mission Valley area. The presence of the satellite campus should draw business to the community. With SDSU’s new facilities, it also will become a more desirable spot for families to settle down with the plan to send their children to school at SDSU when they graduate to higher education.
This means that home values in and around Mission Valley should benefit from the project, particularly as it draws near its eventual completion. That means that if you are a seller, you may be well-positioned to profit in future years, and if you are a buyer, you may want to move fast to snap up the Mission Valley home of your dreams before its price goes up.
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If you are interested in buying a home in Mission Valley or anywhere in San Diego, please give me a call today at (619) 857-7191. I would love to get you in for a consultation and help you take the next steps toward easy and affordable homeownership.