The Gaylord Pacific Resort and Convention Center is poised to break ground this summer as escrow closed on $275 million in public bond funding for construction.
Officials from the Port of San Diego and the city of Chula Vista made the announcement Thursday during a press conference at Bayside Park. The decades-long project inches closer to fruition with this secured funding.
“Chula Vista deserves the best, and we have always believed our city is worthy of a world-class bayfront,'' said Chula Vista Mayor Mary Casillas Salas. "Many years of effort have brought us to this point, and I am overjoyed that we have secured funding for the Chula Vista Bayfront.”
Castillas, who nears the end of her term as the South Bay's first Latina Mayor, said this project is a “cumulation of decades of commitment and leadership by many people in our community.” According to a city statement, the total estimated cost to construct the 1,600 room hotel, parking improvements, convention center, and associated improvements is $1.35 billion.
The City and the Port of San Diego began a collaborative planning process in 2002 to create the Chula Vista Bayfront Master Plan (CVBMP) for the approximately 535-acre of vacant and industrial land in Chula Vista Bayfront area. According to a city staff report, the master plan was “designed to transform Chula Vista’s underutilized industrial Bayfront landscape into a thriving residential and world-class waterfront resort destination”.
“Our community's hopes and dreams are embedded in the Chula Vista Bayfront Master Plan, which we developed through a consensus-based process, and we have been diligently working to bring this vision to life,'' said California Coastal Commissioner and City Councilman Steve Padilla. “I'm so proud to be here on this historic day to announce the successful completion of this critical funding milestone.''
The development expects to bring anticipated economic benefits, including the creation of approximately 3,900 permanent jobs and about 3,480 temporary construction jobs, and numerous indirect jobs in the regional economy. According to a city staff report, the CVBMP will be implemented in four major phases over an expected 24-year period.
Officials say the bayfront master plan calls for open space, a shoreline promenade, walking trails, RV camping, shopping, and dining. The project is expected to have an economic impact of half a billion each year and produce 4,000 permanent jobs.
