June 30, 2020
City Approves Agreement for SDSU to Purchase Mission Valley Stadium Site
HISTORIC LAND AGREEMENT PROMISES TO EXPAND HIGHER EDUCATION IN SAN DIEGO, DELIVER WORLD-CLASS RIVER PARK, MULTI-USE STADIUM, AND HOUSING
The San Diego City Council today approved the purchase and sale agreement formalizing the City’s sale of the Mission Valley stadium site to San Diego State University. Below please find a joint statement from Mayor Kevin L. Faulconer and SDSU President Adela de la Torre:
“Today’s final and historic City Council approval of the sale of the Mission Valley stadium site to San Diego State University ushers in a new era for both the City of San Diego and its oldest university. It brings an end to any questions about the future of the stadium site and begins the revitalization of public land to better serve our regional community.
SDSU Mission Valley will create an academic and research hub helping generations of San Diegans achieve their personal, educational, and professional goals. It will create thousands of jobs and strengthen our regional economy. It will also support many of the City’s goals by creating more housing, including affordable housing; enhancing mobility options with new bike and pedestrian paths; increasing transit use; and improving the quality of life for all San Diegans through the creation of a world-class river park.
We are grateful for the work that has been done over the past 19 months to get us to this point, and look forward to further strengthening the partnership between the City of San Diego and SDSU as this project becomes a reality.”
Following today’s action and a required 30-day waiting period, Mayor Faulconer will sign the agreement, fully executing the sale and beginning the escrow period. Transfer of ownership is expected to take place in early August and construction will begin on the site shortly thereafter, with the stadium and the river park first in line for development.
The community is invited to follow and engage in SDSU Mission Valley progress at https://missionvalley.sdsu.edu.