SAN DIEGO (KGTV) — San Diego State's plans for a Mission Valley stadium cleared one of its last major hurdles.
The university's design and financing plans for Aztec Stadium were approved by the California State University Board of Trustees, leaving only the close of sale on the land — and current coronavirus pandemic — left.
The board's approval gives SDSU the ability to prepare construction for a 35,000-capacity stadium, eventually leading to a Mission Valley campus.
"We are pleased that the trustees continue to share our vision for this project, as the construction of the stadium is a key first step allowing us to unlock the rest of the Mission Valley site plan," SDSU President Adela de la Torre said. "Current events remind us that we need to approach every decision with intention. The board's approval today means that we can move forward in our planning and deliberation, and advance Mission Valley as it makes the strongest sense for our students and for San Diego."
SDSU and CSU will continue to monitor the impacts of the coronavirus pandemic and make scheduling and planning adjustments.
Aztec Stadium is expected to cost about $310 million, funded through philanthropic gifts and bonds to be paid back through revenue generated by the facility. The facility's revenue will also support its operating costs.
The project is part of San Diego State's "SDSU Mission Valley" campus plan, which includes school facilities; housing for students, the community, and affordable housing; retail; and a community river park.
SDSU is still working with the City of San Diego to close a sales agreement on the land.