June 26, 2017
Houston-based RIDA Development plans to build a $1-billion resort hotel and convention center on the Chula Vista, CA waterfront. A letter of intent was signed by the San Diego Unified Port District board and Chula Vista City Council, allowing the project to move forward.
Plans include a 1,450-room hotel, slated to be managed by Gaylord Hotels, and 275,000 square feet of convention space, as well as retail and resort-style amenities including swimming pools and a lazy river. Construction is anticipated to commence in 2019.
The developer is targeting an opening date in 2022 on a project expected to anchor the Chula Vista Bayfront and catalyze surrounding development. The site, a former aircraft manufacturing and power plant, is located at the foot of H Street.
RIDA and its financial partner, ARES Management, will spend $688 million on the project, while the Port and the City will contribute $281 million.
For comments, questions or concerns, please contact Dennis Kaiser