Report: San Diego soccer development could generate $2.8B annual economic boon
- A San Diego Regional Economic Development Corporation (EDC) report found that a proposed $2.5 billion soccer stadium development on the site of Qualcomm Stadium could provide the city with $2.8 billion in economic benefit each year once fully built out, according to the San Diego Union-Tribune.
- The EDC said construction of FS Investor's Major League Soccer project, dubbed SoccerCity, could provide 4,000 jobs per year (and $2.4 billion in wages) over a 10-year building phase.
- FS Investors' plan for the site includes a $200 million, 30,000-seat soccer stadium, 3.1 million square feet of commercial space, 450 hotel rooms, 55 acres of parks and 4,800 residential units, all without a contribution from taxpayers. The group's proposal also includes space for a future NFL stadium.
Qualcomm was home to the former San Diego Chargers until the NFL team announced its decision to relocate to Los Angeles in January. In November, voters rejected a proposed tax increase to help pay for part of a new stadium and convention center development, which was a condition of the team staying in San Diego. The team will share the Rams' new $2.6 billion Inglewood, CA, stadium instead, a project currently under construction.
The group submitted its MLS application in January, and if approved, the Gensler-designed venue will be home to a new soccer franchise as well as the San Diego State University Aztecs football team.
There is a competing proposal for the Qualcomm site, however, for a development anchored by a new NFL stadium. Doug Manchester, builder and former owner of The Union-Tribune, contacted the NFL last month and proposed a 70,000-seat stadium for the site, trying to sell it as a potential home for the Chargers, if they choose to return, or another NFL franchise. While the initial proposal only included a stadium, that has grown to a plan for 22 million square feet of commercial, retail and residential space.
Some residents are hesitant to see such development on the site, citing stress on the local transportation system. A consulting firm, however, said that having all new development in one location, with the San Diego Trolley serving the area, would have less of an impact than if the additional space and residences were spread out over the surrounding region.
- San Diego Union-Tribune SoccerCity: A $2.8B economic boost
- ABC 10 News 'Soccer City' could net $2.8 billion annual impact to local economy
- Times of San Diego Proposed ‘Soccer City’ in Mission Valley Could Have $2.8 Billion Economic Impact
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