Overview
- The city's Historic and Design Review Commission gave conceptual approval to a new Missions stadium and three nearby private projects.
- Developers must return for final design approval before they can pull building permits for any of the four components.
- The $160 million ballpark plan relies on $126 million in bonds from the San Pedro Creek Development Authority and a $34 million team contribution, repaid by lease payments, ticket fees, and property taxes from a special district called a TIRZ.
- City requirements say Weston Urban must design and finance the first phase with at least $300 million in taxable value and begin design on a second phase before any bonds are issued.
- Weston Urban says it is still lining up financing for 681 apartments, a 160-room hotel, and the rehab of the San Fernando Gym, and the project would replace the Missions’ longtime home at Nelson Wolff Stadium.