Chula Vista Bayfront - Major Resort Hotel and Convention Center Project Moving Forward
On April 24th, the San Diego Unified Port District (District) Board of Commissioners and the Chula Vista City Council approved a Disposition and Development Agreement and related Plan of Finance with Houston-based RIDA Development for the development of a resort hotel and convention center on the Chula Vista Bayfront (CVB). The planned $1 billion development encompasses a 1,600-room waterfront resort hotel and 275,000-SF convention center on 36.5 acres.
In support of these efforts, KMA provided financial pro forma analyses, cash flow projections, and economic impact analyses of numerous alternatives. Future redevelopment of the entire CVB, a 536-acre former industrial area on the south end of San Diego Bay, will include a mix of hotel, retail, office, and residential uses along with supporting amenities and open space and is described as the largest waterfront development opportunity on the West Coast.