Mayor Kevin Faulconer Signs Off on SDSU Stadium Sale

The university hopes to break ground on the site as soon as Aug. 17

An image of what the San Diego State University stadium may look like upon completion.

San Diego State University just got one step closer to completing the sale of its soon-to-be stadium now that Mayor Kevin Faulconer signed off on the purchase.

The mayor announced in a Tweet on Thursday that he approved the $86.2 million Mission Valley sale with his signature. The next few steps involve escrow and obtaining the keys to the stadium before the university can break ground on the site – which it hopes to do so as soon as Aug. 17.

This deal was years in the making and the San Diego City Council’s July 1 decision to approve the sale helped the plan finally move forward after much negotiation. While lawyers continued to negotiate for more than a year-and-a-half, the city of San Diego paid $1 million monthly for the property, a burden that will be relieved with the sale.

SDSU is planning to use the site to house a 35,000 capacity Aztec Stadium, new educational facilities, a hotel, and a 34-acre river park that the public will be able to access.

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