10/16/2026
The city just released the full deal terms for redeveloping the Sports Arena property in the Midway District, and a city committee will review them for the first time on Oct. 16.
The plan from developer Midway Rising calls for 4,254 homes, a new 16,000-seat arena to replace the current one, 130,000 square feet of shops and businesses, and more than 14 acres of parks, plazas, and public space. Construction is set to start in 2029, with the new arena first in line around 2032, followed by housing in 2033 and 2034. The full project wouldn’t wrap up until 2050.
The deal favors public benefits over rent. The city expects to collect about $896 million in rent over the life of the lease, which could run 100 years or more. In today’s dollars, that’s worth about $23.2 million, compared to a 2025 appraisal of $75.6 million for the land. City officials say the affordable housing, new arena, and park space make up the difference.
A project this size will shape Midway, Point Loma, and Old Town for decades. If you own or are looking to buy nearby, it’s one to keep an eye on.
Drew Lyon 📲 (858) 952-2216