San Diego State University officially broke ground on its Mission Valley project Monday after years of speculation and negotiations with San Diego for the 132-acre property where San Diego County Credit Union Stadium sits today.
The project, which has been in the works legally since San Diego voters approved Measure G in November 2018, closed escrow on Thursday.
The San Diego City Council voted unanimously to approve a sale agreement for the city-owned Mission Valley stadium property to SDSU for $86.2 million in June, bringing more than a year of negotiations nearly to a close.
Gina Jacobs is the Associate Vice President of SDSU’s Mission Valley Development and says the new Mission Valley stadium site is now under construction thanks to support from the San Diego community.
“This is a really exciting accomplishment. It was something that definitely took the entire community's commitment and the SDSU family to make it a reality," Jacobs said.
RELATED: City Approves Framework For Sale Of Mission Valley Stadium Site To SDSU
The university's plan for the SDSU Mission Valley campus includes a 35,000-capacity stadium and innovation district to support SDSU's education, research, entrepreneurial, technology and athletics programs, as well as 86 acres of parks, recreation and open space, approximately 4,600 market-rate and affordable residences, 400 hotel rooms, 95,000 square feet of retail space and enhanced use of the MTS Green Line Stadium trolley station and accommodation of the planned Purple Line.
SDSU President Adela de la Torre envisions a complex that allows SDSU to become a leader of innovation in Southern California.
“In the years ahead, we will see a world-class innovation district where SDSU faculty and students, alongside industry and the public sector partners, will conduct research into cutting edge areas and critical issues of our time," de la Torre said. "We have reached a pivotal milestone moment. SDSU Mission Valley will be a true revitalization of public land in all aspects of the plan."
SDSU Student President Christan Holt envisions major improvements for the academic, economic and environmental state of his university.
“I am excited that this project will provide more opportunities for students to attend SDSU, achieve their goals of higher education, have access to affordable and convenient housing opportunities, and contribute to a more environmentally sustainable community,” Holt said.
SDSU Mission Valley is set to provide educational opportunities for up to 15,000 additional students and expand the university's economic impact by an estimated $3 billion per year.
Aztec Stadium is expected to be ready by Fall 2022. Completion of the entire project, which is estimated to cost $3.5 billion, will take more than a decade to complete.
