The Seaport San Diego project, which promises to transform the bayfront area currently home to Seaport Village into a world-class destination with a 500-foot observation tower, has just been granted a major extension. According to San Diego Union-Tribune, the Port of San Diego Board of Commissioners has approved an amended agreement with developer 1HWY1, pushing the project’s timeline back by three years. This means it will be at least another three years before construction can begin.
This extension, which was approved unanimously by the board, will give the development team a total of 10 years to complete the project. The agreement is designed to give the team time to obtain necessary approvals and permits, including environmental reviews and California Coastal Commission approval.
As a local Realtor, I see this development as a positive sign for the future of San Diego. This project has the potential to be a major economic driver for the city, attracting new businesses, jobs, and residents. It will also provide a beautiful new waterfront destination for residents and visitors alike.
However, there are still some hurdles to overcome. The project’s scope has been adjusted since its initial proposal, including a reduction in the project’s footprint in the water. This adjustment came after pushback from federal agencies concerned about protecting shipping lanes.
The new timeline should see the release of a draft environmental impact report in the third quarter of 2025, with a final document being presented to the board in mid-2026. The Port Master Plan Amendment will then be reviewed by the California Coastal Commission, a process that could take an additional year or more.
If you’re thinking about buying or selling real estate in San Diego, I encourage you to reach out to me. I can help you navigate the market and find the best opportunity to meet your goals. You can learn more about my services at https://robertluiswallace.com/services/.
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