The sale of the Mission Valley stadium site to San Diego State was "conceptually approved Friday by the City Council as part of a detailed agreement that calls for a purchase price of more than $88 million," according to Lori Weisberg of the SAN DIEGO UNION-TRIBUNE. More than 18 months after voters endorsed the sale, the proposed pact "covers the transfer of 135 acres of land where the existing SDCCU stadium is located to the university, which hopes to break ground on a new 35,000-seat football stadium by August." But before the deal can be finalized, "two more hearings will be required next month so that the council can formally approve the sales contract." The school’s development plan, which has "already been approved by its board and has an allocation of more than $660 million from the CSU Board of Trustees, calls for a 35,000-seat stadium, 4,600 housing units with 10 percent set aside for low-income households, 80 acres of parks and open space, 1.6 million square feet of office and research space, 400 hotel rooms, 95,000 square feet of campus retail and 13,192 parking spaces." The purchase agreement also "requires that a 34-acre, city-owned river park be built at SDSU’s expense." School officials said that buildout of the $3.5B "phased project would occur over a period of 15 years, with the planned stadium and river park breaking ground first." They added that the new stadium will be "completed in time for the 2022 football season" (SAN DIEGO UNION-TRIBUNE, 5/30).
