**Midway Rising Project Projected to Deliver $285M in Annual Economic Impact**
A new analysis from the San Diego Regional Economic Development Corporation (EDC), commissioned by the Midway Rising development team, estimates that the Midway Rising redevelopment project in San Diego’s Midway/Sports Arena neighborhood will generate a projected $285 million in direct annual economic impact. This figure is equivalent to hosting an event the size of San Diego Comic-Con each year.
Valued at $3.9 billion, the ambitious project will overhaul the nearly 60-year-old city-owned Sports Arena and surrounding parking lots, transforming the area with 4,250 new homes, a new 16,000-seat arena, and 130,000 square feet of retail space.
“This project is more than just a redevelopment—it’s a long-term investment in San Diego’s future,” said Mark Cafferty, President and CEO of the San Diego Regional EDC. “As our region and state grapple with a dire affordability crisis, Midway Rising promises meaningful and accessible housing options, as well as a world-class tourism and entertainment hub that will add jobs.”
Selected by the City of San Diego in late 2022, the Midway Rising team consists of affordable housing developer Chelsea Investment Corporation, sports venue developer and operator Legends, market-rate housing developer Zephyr, and The Kroenke Group. Construction is anticipated to begin in late 2026, pending approval by the San Diego City Council later this year.
