January 28, 2016
The San Diego Convention Center has identified state funds that officials say will pay for long-overdue repairs and improvements. A series of projects totaling $22-million in capital reinvestment is planned for the iconic Sails Pavilion, designed to update it following 25 years of wear and tear.
The convention center was built in 1989, and hosts more than 100 events annually, which attract more than 800,000 people. The convention center is home to the popular Comic-Con International gathering, which draws about 130,000 attendees.
Convention officials, with the city as a co-signer, are reportedly tapping into loans available from the state’s Infrastructure & Economic Development Bank, which provides 20-year loans at rates between 3 percent and 3.5 percent. The Port District is expected to sell naming rights to the Pavilion.