DATE: December 28, 2020
SUBJECT:
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RESOLUTION AUTHORIZING AGREEMENT FOR AMENDMENT OF EXCLUSIVE NEGOTIATING AGREEMENT AMENDMENT NO. 1 BETWEEN THE SAN DIEGO UNIFIED PORT DISTRICT AND 1HWY1, LLC FOR THE PROPOSED REDEVELOPMENT OF 70-ACRES OF LAND AND WATER IN THE CENTRAL EMBARCADERO
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EXECUTIVE SUMMARY:
On February 22, 2016, staff issued Request for Proposals 16-04ME (RFP) for the redevelopment of 70 acres of land and water situated between downtown and the Bay in the District's Central Embarcadero area (Redevelopment Site). The Redevelopment Site is bordered by the USS Midway Museum and Harbor Drive to the north, Manchester Grand Hyatt and Kettner Boulevard to the east, and San Diego Bay to the south and west. The Redevelopment Site also includes Embarcadero Marina Park North, Ruocco Park and Tuna Harbor. A location map is attached for reference (Attachment A).
Following an extensive solicitation and due diligence process at the November 8, 2016 meeting, the Board of Port Commissioners (Board) selected 1HWY1, LLC (1HWY1) as the successful proposer. On October 2, 2017, the District entered into an Exclusive Negotiating Agreement (ENA) with 1HWY1 (Attachment B). Due to the complexity of the proposed Seaport San Diego Project (Seaport Project), the District has granted various extensions to 1HWY1 over the last three years, including extensions of the submittal deadline for the project description and proforma and the negotiating period. The ENA currently expires on March 27, 2021.
Since entering the ENA, 1HWY1 has refined the details of the Seaport Project, but it continues to have the main components for a mixed-use development that could transform and revitalize the area into a world-class destination.
A project of this magnitude takes a lot of effort and time as well as coordination amongst multiple stakeholders and agencies. The Seaport Project contains various programmatic components that require further evaluation to determine consiste...
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