A local developer has proposed a $400 million development that would add several game-changing uses to Downtown San Diego.
"A nearly $400 million high-rise project that promises to give downtown San Diego its first five-star hotel cleared a major hurdle [in December] when the San Diego City Council agreed to negotiate a deal with the developer," reports Lori Weisberg.
The 160-room hotel would be a Ritz Carlton. The development would also include a gourmet grocery store (Whole Foods), 156,000 square feet of office space, 238 public parking spaces, 115 apartments, and 58 Ritz-branded condos. The centerpiece of the project is a 39-story high rise.
The City Council decision rendered in December allows the city to "initiate negotiations with San Diego-based Cisterra Development on an agreement spelling out the precise scope of the hotel, office and housing project, as well as how much the developer would pay to acquire city-owned land at 7th Avenue and Market Street where the high-rise would be located," according to Weisberg.
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