January 24, 2017
FS Investors, a La Jolla, CA and San Mateo, CA-based investment group, has proposed a $1-billion redevelopment of San Diego’s Qualcomm Stadium site. The Mission Valley property would contain a $200-million soccer stadium, envisioned to open in 2020.
FS Investors’ proposed ideas for the 166-acre property, which was the former home of the Chargers football team, include:
- Acquiring the entire site from the city
- Demolishing the 50-year-old Qualcomm Stadium
- Exploring transit-oriented development projects with others including housing, office space for SDSU as well as corporate HQ users, hotels and related commercial and entertainment uses
- Paying roughly $50 million in projected costs for a 55-acre San Diego River Park
- Setting aside roughly 15 acres for a potential future NFL stadium
FS Investors has exclusive rights to apply for a pro soccer franchise, and says it will file by the end of this month. The signature-gathering campaign for a ballot initiative would be launched in time to qualify for a 2018 city vote.
For comments, questions or concerns, please contact Dennis Kaiser