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CCP 09-25-2006
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CCP 09-25-2006
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<br />sires expressed in the meetings. This public process resulted in a comprehen- <br />sive plan for Liberty Station that emphasized public use, a pedestrian-oriented <br />environment, and a vibrant mix of uses that would replace the jobs lost when <br />the base dosed. A residents' group called Save Our NTC has kept a watch on <br />the development process. Contentious issues have included objections to the <br />height of some proposed buildings and concerns that the public space is being <br />developed more slowly than the offICes and housing. <br /> <br />The development is expected to create 8,000 perma- <br />nent jobs. Room tax from the two hotels is expected to <br />generate $4.8 million annually. Tax revenue from the <br />developed property could bring in $2.4 million a year, <br />including $750,000 annually for low- and moderate-in- <br />come housing.JO<iv The developer is obligated to build $125 <br />million worth of infrastructure improvements, induding sewer, water, electric, <br />cable, phone and storm-drain sy&1.em improvements, new parking areas, and <br />new road and traffic improvements to internal and surrounding streets. Road <br />improvements include new curbed medians, renovated sidewalks, bike lanes, <br /> <br />1111 <br /> <br /> <br />New housing built in the traditional architectural style of the area. <br /> <br />. <br /> <br />Without the money to redevelop the base on its own, <br />the city held a competition and awarded the redevelop- <br />ment to a private developer, with the San Diego Redevel- <br />opment Agency as a partner. Redevelopment is estimated <br />to cost $850 million over the first 15 years. and most of <br />the money will come from private financing. As an incen- <br />tive, the city gave the developer 81 acres to develop and <br />sell for homes and offices. The developer holds a 66-year <br />ground lease. owned by the city, on the remainder of the <br />property to develop and lease for commercial uses. <br /> <br />. <br /> <br /> <br />. <br /> <br />Liberty Station occupies a prime location near downtown San Diego. <br /> <br />32 <br />
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