"Soccer City" proposal would have an economic impact of $2.8 bil - KUSI News - San Diego, CA

"Soccer City" proposal would have an economic impact of $2.8 billion

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SAN DIEGO (KUSI) - The San Diego Regional Economic Development Corp announced Thursday that the proposed "Soccer City" plan would have a $2.8 billion economic impact fro San Diego.

"Soccer City" would be developed at the Qualcomm Stadium site in Mission Valley and would be host to a Major League Soccer expansion team and the SDSU football team. 

The plans would create nearly 42,000 construction jobs for the development of the site and almost 26,000 permanent positions, the EDC said. The analysis was completed by the EDC in collaboration with consultant AECOM, where they researched the amount of jobs that would be created as well as the effects on real estate value and stadium activities.

Mark Cafferty, EDC president and CEO, said the result was the product of a conservative calculation.

``A project of this size presents strong economic opportunities for our region,'' Cafferty said. ``Our hope is that the data we have compiled will help better inform our public dialogue in the weeks ahead.''

Despite the findings in the report, Cafferty stressed that it does not represent an endorsement of the project by the EDC.

Soccer City was proposed by a group led by FS Investors of La Jolla, which has applied for a Major League Soccer expansion franchise.

The project would also include roughly 5,000 residential units, 740,000 square feet of retail space, nearly 18,000 parking spaces and about 55 acres of parks and open space, according to the EDC.

If approved, the Soccer City is projected to be operational by 2020, however construction on the site is expected to continue for several years after that.

FS Investors plan to begin a petition drive soon that, if successful, would require the San Diego City Council to either approve the plans or submit them to a public vote. While the plan has been received with interest by city officials, questions have been raised in some quarters about whether the process was moving too quickly.

SDSU officials have yet to fully endorse the proposal citing various concerns including if future stadium expansion would be too costly

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