The plan to redevelop the land around the Sports Arena has received unanimous approve from the San Diego Planning Commission.
Thursday's decision means the nearly four billion dollar development moves forward toward a vote by the end of the year in front of the City Council.
"This project is on track to completely revitalize the Midway District by adding an upgraded new sports arena in addition to over 4,000 new homes, nearly half of which will be affordable housing," said City Councilwoman Jennifer Campbell, who represents the Midway District. "In the state of California, we have yet to see an affordable housing development of this magnitude, and I am proud that San Diego will be the first to build a project of this scale."
The proposed project will allow the developers -- housing developer Chelsea Investment Corporation, sports venue developer and operator Legends, market-rate housing developer Zephyr and equity investor The Kroenke Group -- to construct 4,254 housing units, including 2,000 affordable units, 8.12 acres of public parks and 6.42 acres of public space, a 16,000 seat, multi-purpose Entertainment Center, and 130,000 square feet of commercial space.
The affordable apartments would be dedicated to households earning 80% of the area median income or below. A family of four with an annual household income of up to $132,400 would qualify to rent an affordable home for 30% of their annual income.
As for the legendary but 59-year-old Sports Arena, now known as Pechanga Arena, it would be replaced with the entertainment center and seat 2,000 more people than the current structure, according to the developers.