MountainWest Real Estate is given the green-light to start negotiations with The City of Chula Vista and Metropolitan Transportation System(MTS) to kick start Bayview Point.
On Wednesday, it was reported that the real estate development team received the authorization from Chula Vista officials and MTS, to begin talks for this $900 million project that would bring a mixed-use mobility hub to the city of Chula Vista.
What will the project include?
The Bayview Point mobility hub is expected to feature luxury residential towers, five-star hotel and restaurants, retail, affordable housing, a fitness center, outdoor public-use spaces, a medical office and transportation programming.
Tucker Sadler Architects would be at the helm of the design concept for this $900 million budget project, which would include a vibrant design that links an urban streetscape to a modern transportation hub.
Greg Mueller, CEO and Principal Designer for the architect company, says this project will be a reflection of many features embraced in the Southern California region.
"The contemporary design inspiration is a reflective of the different Southern California soft hues of the ocean, sunrise and sunsets over the marina, and majestic mountain ranges," said Greg Mueller, CEO of Tucker Sadler Architects.
Chula Vista Mayor John McCann says this project will not only provide a prime location with open views of the city, but it will also generate significant economic enterprise for the city of Chula Vista.
"Chula Vista's Bayview Point will be on a prime 10-acre location with unobstructed views. Chula Vista's partnership with MTS and the MountainWest team's vision will create a destination location that will bring substantial renewal and economic activity for the city," said Chula Vista Mayor John McCann.
MountainWest CEO Jim Pieri says the idea is to connect Chula Vista's urban zone with the Blue Line Trolley and San Diego's Big Bay with this 10-acre site project.
"The City of Chula Vista presented MountainWest with an opportunity to create a dynamic vision for the 10-acre site as a sought-after place to live, work and enjoy the connectivity of Chula Vista's urban core with the UC San Diego Blue Line Trolley and San Diego's Big Bay. The best part is that we collaborated with key stakeholders for input, so it really was a concerted team effort," said Jim Pieri, CEO of MountainWest.
One of the corporations involved in the real estate team is Chelsea Investment Corporation, founded by Jim Schmid, which will contribute to this project as it pertains to bringing affordable housing. This investment group is committing to help develop over 200 housing units for underprivileged residents in the city.
"What we see, particularly in San Diego County, is an extreme shortage of affordable housing in the rental market and this is the strongest foothold toward economic stability. Chelsea Investment Corporation is proud to be a part of the affordable housing solution, and to be a part of changing people's lives for the better," said Chelsea Investment Corporation founder Jim Schmid.
The mixed-use mobility hub will be located between 707 F Street and 750 E Street in Chula Vista.
