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San Diego Chargers State Plans for Stadium

Tuesday, April 5, 2016

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A new plan to build a $1 billion stadium to host the Chargers football team as well as an $800,000 convention center in downtown San Diego is afoot.

The so-called “Convadium” would welcome fans and visitors in 2022, according to various reports, citing the 119-page “Citizens’ Initiative” released Wednesday (March 30).

Hinges on Voter Approval

While the Chargers and the National Football League intend to pay $650 million for the project, the team seeks to raise the remaining funds needed for the ambitious project through a 4 percent hotel tax increase, the Los Angeles Times reports.

San Diego
© iStock.com / jatrax

The San Diego Chargers have announced plans to bring a stadium and convention center to downtown. However, voters must approve the funding measure.

Voters must approve the tax increase in November for the plans to move forward.

"We believe this is a great opportunity for the community to come together and create something special: an iconic, modern multi-purpose venue while also supporting and expanding our tourism and convention industries,” said Chargers Chairman Dean Spanos.

The San Diego Union-Tribune further reports that the team’s initiative would require it to sign at least a 30-year lease and a non-relocation agreement.

The Chargers would also be responsible for any cost overruns on the construction of the stadium and any upgrades to the venue during that time.

Option Open

Just in case the plans fall through in San Diego, the Chargers still have the option available to move to Los Angeles and share a venue with the Rams, reports relate.

Upon returning to the area after more than two decades in St. Louis, the Rams intend to build a $3 billion complex in Inglewood, CA.

   

Tagged categories: Commercial Construction; Commercial contractors; Construction; Developers; Stadiums/Sports Facilities

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