**Midway Rising Project Projected to Generate $285M in Annual Economic Impact**
The Midway Rising development in San Diego’s Midway/Sports Arena neighborhood is projected to deliver significant economic benefits, according to a new analysis by the San Diego Regional Economic Development Corporation (EDC). Commissioned by the Midway Rising development team, the report estimates the redevelopment could bring a direct annual economic impact of $285 million—the equivalent of hosting another San Diego Comic-Con every year.
The $3.9 billion plan aims to completely transform the nearly 60-year-old, city-owned Sports Arena and surrounding parking lot. Key features of the proposed development include:
– 4,250 new homes
– A state-of-the-art 16,000-seat arena
– 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.”
The Midway Rising team, selected by the City of San Diego in late 2022, includes:
– Chelsea Investment Corporation (affordable housing)
– Legends (sports and entertainment development)
– Zephyr (market-rate housing)
– The Kroenke Group (commercial real estate)
Pending City Council approval later this year, construction is expected to begin in late 2026. The redevelopment is slated to provide both economic stimulus and improved quality of life for the community for decades to come.
