SAN DIEGO (KGTV) — Horton Plaza's sale to real-estate firm Stockdale Capital Partners hopes to revitalize the plaza back to its former glory.
10News reported the downtown shopping center was in escrow back in June. Now, plans for the site's future are being released, including a hub for mixed-use offices, retail, and restaurants, according to the firm's plans. It will also get a new name: The Campus at Horton.
Stockdale plans to use the center to cater to the tech industry and entice technology companies to the area.
"The Campus at Horton will be a thriving innovation hub, comprised of creative office space, captivating entertainment options, urban lifestyle retail choices and contemporary food and beverage experiences, catering to leading technology and biotechnology employers, locally and nationally," Steven Yari, Managing Director of Stockdale Capital, said.
The project is expected to create 3,000 - 4,000 jobs and generate more than $1.8 billion in annual economic activity.
"We're ripe in downtown for an office explosion," said Gary London, senior principal of London Moeder Advisors, a commercial real estate analytics firm. "There's been a big movement in corporate American to marry the places where people work with the places where people live."
A rendering of The Campus shows the project's bold re-imagining of Horton Plaza to create an office and retail campus, green space, and transform walkways into one boardwalk through the site.
The firm added there will be an opportunity for additional construction to add 1.5 million square feet to the site.
"Our hope is that this project will serve as a catalyst for bringing high-tech tenants and thousands of jobs to downtown and spur other developments that will do the same," Ashley Gosal, Inhouse counsel for Bosa Development, said.
Construction on the project is expected to begin in early 2019, while the project is slated for completion in fall 2020.
A series of community workshops will be held with Stockdale, the San Diego Chamber of Commerce, and Regional Economic Development Corporation to discuss the plan and gather community feedback.