As expected, San Diego State University officially presented an offer to buy the Mission Valley stadium site for $68 million Monday night.
It's been 11 months since voters approved the framework for the sale, but negotiations between the university and the city have stalled.
Last week, the city got an independent appraisal on the site and said the unreleased figure would serve as a starting point for negotiations.
SDSU president Adela de la Torre responded with a letter expressing her dissent.
But Monday, SDSU made an offer. In a press release, the university said its offer was valued at more than $150 million, including other costs in addition to the land:
- $68 million for 132 acres of land
- Developing and maintaining a 34-acre community river park at a cost of about $30 million
- Affordable housing
- A new multi-use stadium
- The cost of building a two lane Fenton Parkway Bridge
SDSU also listed the stadium demolition as part of its responsibilities. During the public comment portion of the meeting, speakers mentioned bike lane planning and access as a concern. Also mentioned was the concern that the university stick to plans pitched to and approved by voters when they passed Measure G.
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The presentation of the offer was purely informational. The City Attorney and city staff will now review the offer before adding it to the agenda.
