The San Diego Community College District Board of Trustees has adopted a long-term ground lease in the Upper East Village for a full city block that will be developed into a mixed-use development in the I.D.E.A. District.
As part of the 99-year lease, Lowe Enterprises, Inc. and I.D.E.A. Partners, LLC. will develop the block bounded by E, F, Park, and 13th streets. The rent paid to the SDCCD will be $56,625 per month.
“This project will benefit both City College and the East Village community by creating a vibrant new mixed-use development,” said SDCCD Chancellor Constance Carroll. “In addition, this project will create a new source of revenue the district will use for building maintenance. Our two bond measures fund the cost of construction but not the cost of maintaining the facilities we build, so we are putting our own surplus property to work in order to develop revenue for this purpose.”
Lowe and I.D.E.A. Partners’ proposal for the 1.37-acre site is to create an urban mixed-use project with creative office space, apartments designed to appeal to young urban professionals, and street-level shops and restaurants that will attract residents, employees, and the East Village neighborhood. The San Diego office of the internationally acclaimed architecture firm, Gensler, designed the project.
The mixed-use project is seen as a catalytic element for the 95-acre I.D.E.A. (Innovation+Design+Education+Arts) District, an innovative approach to creating a vibrant jobs cluster at the intersection of design and technology. To entice creative talent, the I.D.E.A. District will be populated with educational institutions, arts and artists, and designed as a walkable, sustainable environment.
The SDCCD Board acted to adopt the long-term ground lease during its regular meeting held yesterday at City College. Previously, the SDCCD determined the surplus property is no longer needed for educational use and sought bids from potential developers. In February, the SDCCD Board selected the Lowe and I.D.E.A. Partners team.
“This is an exciting concept that will attract young, creative people to live and work in the Upper East Village,” said Rich Grosch, President of the SDCCD Board of Trustees. “As the neighborhood develops, it will only enhance the synergy between City College and the downtown business community.”