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Post by Boise Aztec on Jun 27, 2017 20:49:48 GMT -8
If this plays out as it looks like it will... SDSU Leadership is either...
1. Much better than many people thought or
2. Really, really lucky
either way, it looks like SDSU West is going to happen... with Aztec Warrior Stadium as a central piece...
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Post by sdsuballer on Jun 28, 2017 8:33:39 GMT -8
It just a smart move to buy the entire site at fair market value which is $110 mil for all 166 acres plus the stadium. Then the football team can play temporarily at Qualcomm stadium while they fundraise or find another partner for the new stadium next door. In the mean time they can sell the stadium naming rights, stadium advertising, and parking for about $5mil and cover the maintenance cost. They can also rent out the place for other activities and make more revenue. Im more surprise that Associated Students isn't involved in this deal. They have bought buildings for more money than what the fair market value on this land is worth. This is a no brainer for SDSU and their is no way on earth they would lose money on this land as the school is not in the money making business of haggling developers. GO SDSU WEST..
Now that Im all pump up we should get greedy and also buy the charger park property and develop it for offices purposes or build Aztec Warrior Football Park.
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Post by SD Johnny on Jun 28, 2017 9:00:39 GMT -8
It just a smart move to buy the entire site at fair market value which is $110 mil for all 166 acres plus the stadium. Then the football team can play temporarily at Qualcomm stadium while they fundraise or find another partner for the new stadium next door. In the mean time they can sell the stadium naming rights, stadium advertising, and parking for about $5mil and cover the maintenance cost. They can also rent out the place for other activities and make more revenue. Im more surprise that Associated Students isn't involved in this deal. They have bought buildings for more money than what the fair market value on this land is worth. This is a no brainer for SDSU and their is no way on earth they would lose money on this land as the school is not in the money making business of haggling developers. GO SDSU WEST.. Now that Im all pump up we should get greedy and also buy the charger park property and develop it for offices purposes or build Aztec Warrior Football Park. Charger park is included in that $110 million. |
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Post by AztecWilliam on Jun 28, 2017 11:30:06 GMT -8
I was at the Aztec Caravan event and JD Wicker gave an update on the current status of MV and answered some questions. Here was the biggest piece of info... The CSU System and SDSU is prepared to purchase the entire 166 acre Mission Valley site at whatever FMV the city determines. How do you like them apples! Go SDSU WEST! Go AZTECS! See, I told you there would be big news from SDSU!!!!  Let's hope this pans out in all respects. AzWm |
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Post by SDSU-Alum2003 on Jun 28, 2017 11:39:59 GMT -8
It just a smart move to buy the entire site at fair market value which is $110 mil for all 166 acres plus the stadium. Then the football team can play temporarily at Qualcomm stadium while they fundraise or find another partner for the new stadium next door. In the mean time they can sell the stadium naming rights, stadium advertising, and parking for about $5mil and cover the maintenance cost. They can also rent out the place for other activities and make more revenue. Im more surprise that Associated Students isn't involved in this deal. They have bought buildings for more money than what the fair market value on this land is worth. This is a no brainer for SDSU and their is no way on earth they would lose money on this land as the school is not in the money making business of haggling developers. GO SDSU WEST.. Now that Im all pump up we should get greedy and also buy the charger park property and develop it for offices purposes or build Aztec Warrior Football Park. Charger park is included in that $110 million. Yup. Gotta love those snake oil salesmen from FS with the Soccer City plan that has almost nothing to do with Soccer and everything to do with a massive real estate deal. |
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Post by badfish on Jun 28, 2017 11:41:04 GMT -8
I sent an email to Faulconer yesterday voicing my support for SDSU acquiring the MV land, and this is what I got back:
"I have not seen any reports that SDSU is interested in purchasing the property at its appraised value.
John Ly
Director of Outreach"
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Post by fanhood on Jun 28, 2017 11:44:06 GMT -8
I sent an email to Faulconer yesterday voicing my support for SDSU acquiring the MV land, and this is what I got back: "I have not seen any reports that SDSU is interested in purchasing the property at its appraised value. John Ly Director of Outreach" Am I wrong in not believing anything that comes out of the Mayor's office? |
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Post by survalli on Jun 28, 2017 12:42:54 GMT -8
It just a smart move to buy the entire site at fair market value which is $110 mil for all 166 acres plus the stadium. Then the football team can play temporarily at Qualcomm stadium while they fundraise or find another partner for the new stadium next door. In the mean time they can sell the stadium naming rights, stadium advertising, and parking for about $5mil and cover the maintenance cost. They can also rent out the place for other activities and make more revenue. Im more surprise that Associated Students isn't involved in this deal. They have bought buildings for more money than what the fair market value on this land is worth. This is a no brainer for SDSU and their is no way on earth they would lose money on this land as the school is not in the money making business of haggling developers. GO SDSU WEST.. Now that Im all pump up we should get greedy and also buy the charger park property and develop it for offices purposes or build Aztec Warrior Football Park. Charger park is included in that $110 million. 110 Million is chump change. That's the beauty of all this. Falconer and his Soccer City crew intentionally undervalued the land in an attempt to fast tract the project in their favor. Now SDSU stands to reap the rewards of Falconer's corruptions. |
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Post by northcountymike on Jun 28, 2017 13:11:55 GMT -8
I sent an email to Faulconer yesterday voicing my support for SDSU acquiring the MV land, and this is what I got back: "I have not seen any reports that SDSU is interested in purchasing the property at its appraised value. John Ly Director of Outreach" For some reason (common sense maybe), I'm thinking that when it comes down to it, "fair market value" will represent two different numbers: one that the city comes up with and one that SDSU will be willing to pay. Either way, I'm not getting excited until a deal is inked. |
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Post by fanhood on Jun 28, 2017 13:25:27 GMT -8
I sent an email to Faulconer yesterday voicing my support for SDSU acquiring the MV land, and this is what I got back: "I have not seen any reports that SDSU is interested in purchasing the property at its appraised value. John Ly Director of Outreach" For some reason (common sense maybe), I'm thinking that when it comes down to it, "fair market value" will represent two different numbers: one that the city comes up with and one that SDSU will be willing to pay. Either way, I'm not getting excited until a deal is inked. He said "appraised value." Which is the $110 million number. |
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Post by SDSU-Alum2003 on Jun 28, 2017 13:57:02 GMT -8
I sent an email to Faulconer yesterday voicing my support for SDSU acquiring the MV land, and this is what I got back: "I have not seen any reports that SDSU is interested in purchasing the property at its appraised value. John Ly Director of Outreach" Lol such a joke. JD Wicker said the exact opposite in front of over 100 people yesterday. |
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Post by fanhood on Jun 28, 2017 14:33:41 GMT -8
I sent an email to Faulconer yesterday voicing my support for SDSU acquiring the MV land, and this is what I got back: "I have not seen any reports that SDSU is interested in purchasing the property at its appraised value. John Ly Director of Outreach" Lol such a joke. JD Wicker said the exact opposite in front of over 100 people yesterday. Well, somebody is being misleading. Based on recent events, I believe JD. |
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Post by northcountymike on Jun 28, 2017 15:30:07 GMT -8
For some reason (common sense maybe), I'm thinking that when it comes down to it, "fair market value" will represent two different numbers: one that the city comes up with and one that SDSU will be willing to pay. Either way, I'm not getting excited until a deal is inked. He said "appraised value." Which is the $110 million number. Yup - I'm aware. Call me crazy though, I just think that the $110 million figure will change. The appraisal for Soccer City and for SDSU will represent different numbers, no matter how "locked in" some of you think the Mayor is. The "fight" is just beginning.... |
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Post by Boise Aztec on Jun 28, 2017 16:08:01 GMT -8
He said "appraised value." Which is the $110 million number. Yup - I'm aware. Call me crazy though, I just think that the $110 million figure will change. The appraisal for Soccer City and for SDSU will represent different numbers, no matter how "locked in" some of you think the Mayor is. The "fight" is just beginning.... A fight can be both just beginning and over at the same time as this is... |
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Post by SDSU-Alum2003 on Jun 28, 2017 19:25:54 GMT -8
Lol such a joke. JD Wicker said the exact opposite in front of over 100 people yesterday. Well, somebody is being misleading. Based on recent events, I believe JD. As do I. Kevin Faulconer not only supports FoS he is FOS. |
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Post by obboy13 on Jun 28, 2017 20:22:56 GMT -8
Yup - I'm aware. Call me crazy though, I just think that the $110 million figure will change. The appraisal for Soccer City and for SDSU will represent different numbers, no matter how "locked in" some of you think the Mayor is. The "fight" is just beginning.... A fight can be both just beginning and over at the same time as this is... Slow down a bit there cowboy. First off the City Council has yet to even declare the land surplus. If that happens, there are any number of public agencies that might want to get involved in bidding on land in Mission Valley. Then the City has to negotiate a price for the land with the agency they choose, and like the bold politicians they are, may decide to put the question to a vote. After that, there's going to be more litigation than you and I together can imagine. Concurrently, EIR's, CEQA requirements, and other state and federal regulations could tie things up for quite a while. Finally, and this is in my opinion worth remembering, the FS deal looked so good to them because they had arranged to be written in their proposal that the City would reduce the ultimate purchase price by the certain costs including demolition of the Q. That won't be a part of any deal with a governmental agency unless a majority of Council members are SDSU alumni, and as rabid about Aztec athletics as those on this Board. I have little doubt that SDSU and CSU could come up with $110 million (remember Hirshman said he already had $100 million) but realistically the price will be much greater than that, and there are a number of other operational (the Q is a money loser) and developmental costs associated with ownership of the land. So, while this seems to be a step in the right direction, it's just one step and the road ahead is really really long. Heck, they haven't even announced it publicly yet. It's no surprise the Mayor's guy was unaware, I mean only one of us attended the event, and Wicker probably felt because he was among friends he could comfortably offer up a nugget. Not the smartest thing to do in his position, but enough to make folks here get excited, and they're going to need an excited base to help pull this off. The only problem, and I certainly don't relish being a buzz-killer, is that the finished product most likely will not occur in most of our lifetimes, since even SDSU's initial projections indicated they don't need the land for 10 years or so. That's a long time and a lot can happen during the intervening period. So break out the Cuervo, time for a bit of a celebration. It's not a win yet, but at least it looks as if we're in the game. |
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Post by SDSU-Alum2003 on Jun 28, 2017 20:30:51 GMT -8
A fight can be both just beginning and over at the same time as this is... Slow down a bit there cowboy. First off the City Council has yet to even declare the land surplus. If that happens, there are any number of public agencies that might want to get involved in bidding on land in Mission Valley. Then the City has to negotiate a price for the land with the agency they choose, and like the bold politicians they are, may decide to put the question to a vote. After that, there's going to be more litigation than you and I together can imagine. Concurrently, EIR's, CEQA requirements, and other state and federal regulations could tie things up for quite a while. Finally, and this is in my opinion worth remembering, the FS deal looked so good to them because they had arranged to be written in their proposal that the City would reduce the ultimate purchase price by the certain costs including demolition of the Q. That won't be a part of any deal with a governmental agency unless a majority of Council members are SDSU alumni, and as rabid about Aztec athletics as those on this Board. I have little doubt that SDSU and CSU could come up with $110 million (remember Hirshman said he already had $100 million) but realistically the price will be much greater than that, and there are a number of other operational (the Q is a money loser) and developmental costs associated with ownership of the land. So, while this seems to be a step in the right direction, it's just one step and the road ahead is really really long. Heck, they haven't even announced it publicly yet. It's no surprise the Mayor's guy was unaware, I mean only one of us attended the event, and Wicker probably felt because he was among friends he could comfortably offer up a nugget. Not the smartest thing to do in his position, but enough to make folks here get excited, and they're going to need an excited base to help pull this off. The only problem, and I certainly don't relish being a buzz-killer, is that the finished product most likely will not occur in most of our lifetimes, since even SDSU's initial projections indicated they don't need the land for 10 years or so. That's a long time and a lot can happen during the intervening period. So break out the Cuervo, time for a bit of a celebration. It's not a win yet, but at least it looks as if we're in the game. Disagree with you here. When SDSU gets the land they will build the stadium first obviously. I would guess the park will also be high on the city and SDSU list. They already have buildings they lease in MV that could be eventually moved to MV. The land will certainly not be developed over night. It will be 20-30 years or more for build-out. Hell, even FoS investors weren't going to build out MV for 15 years. So, yes if you are 60 you may not live to see the Grand SDSU WEST; you should see a new stadium in 5 years or less. |
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Post by Boise Aztec on Jun 28, 2017 20:31:22 GMT -8
A fight can be both just beginning and over at the same time as this is... Slow down a bit there cowboy. First off the City Council has yet to even declare the land surplus. If that happens, there are any number of public agencies that might want to get involved in bidding on land in Mission Valley. Then the City has to negotiate a price for the land with the agency they choose, and like the bold politicians they are, may decide to put the question to a vote. After that, there's going to be more litigation than you and I together can imagine. Concurrently, EIR's, CEQA requirements, and other state and federal regulations could tie things up for quite a while. Finally, and this is in my opinion worth remembering, the FS deal looked so good to them because they had arranged to be written in their proposal that the City would reduce the ultimate purchase price by the certain costs including demolition of the Q. That won't be a part of any deal with a governmental agency unless a majority of Council members are SDSU alumni, and as rabid about Aztec athletics as those on this Board. I have little doubt that SDSU and CSU could come up with $110 million (remember Hirshman said he already had $100 million) but realistically the price will be much greater than that, and there are a number of other operational (the Q is a money loser) and developmental costs associated with ownership of the land. So, while this seems to be a step in the right direction, it's just one step and the road ahead is really really long. Heck, they haven't even announced it publicly yet. It's no surprise the Mayor's guy was unaware, I mean only one of us attended the event, and Wicker probably felt because he was among friends he could comfortably offer up a nugget. Not the smartest thing to do in his position, but enough to make folks here get excited, and they're going to need an excited base to help pull this off. The only problem, and I certainly don't relish being a buzz-killer, is that the finished product most likely will not occur in most of our lifetimes, since even SDSU's initial projections indicated they don't need the land for 10 years or so. That's a long time and a lot can happen during the intervening period. So break out the Cuervo, time for a bit of a celebration. It's not a win yet, but at least it looks as if we're in the game. I don't disagree with anything you wrote, much of that could happen and if the property is declared surplus and is sold it will require a public vote if it is more than 80 acres, that is the law. But none of that matters as there are no local agencies that could come anywhere near the $110m needed to acquire the land. Not only that, but I have heard that the SDSU proposal will have a portion of the land devoted to low income housing. And before someone asks, no it would not be SDSU developing low income housing, just setting aside some of the land for that purpose. SDSU doesn't need all of the land... Still 100% sure that it is over... |
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Post by northcountymike on Jun 28, 2017 20:37:45 GMT -8
Slow down a bit there cowboy. First off the City Council has yet to even declare the land surplus. If that happens, there are any number of public agencies that might want to get involved in bidding on land in Mission Valley. Then the City has to negotiate a price for the land with the agency they choose, and like the bold politicians they are, may decide to put the question to a vote. After that, there's going to be more litigation than you and I together can imagine. Concurrently, EIR's, CEQA requirements, and other state and federal regulations could tie things up for quite a while. Finally, and this is in my opinion worth remembering, the FS deal looked so good to them because they had arranged to be written in their proposal that the City would reduce the ultimate purchase price by the certain costs including demolition of the Q. That won't be a part of any deal with a governmental agency unless a majority of Council members are SDSU alumni, and as rabid about Aztec athletics as those on this Board. I have little doubt that SDSU and CSU could come up with $110 million (remember Hirshman said he already had $100 million) but realistically the price will be much greater than that, and there are a number of other operational (the Q is a money loser) and developmental costs associated with ownership of the land. So, while this seems to be a step in the right direction, it's just one step and the road ahead is really really long. Heck, they haven't even announced it publicly yet. It's no surprise the Mayor's guy was unaware, I mean only one of us attended the event, and Wicker probably felt because he was among friends he could comfortably offer up a nugget. Not the smartest thing to do in his position, but enough to make folks here get excited, and they're going to need an excited base to help pull this off. The only problem, and I certainly don't relish being a buzz-killer, is that the finished product most likely will not occur in most of our lifetimes, since even SDSU's initial projections indicated they don't need the land for 10 years or so. That's a long time and a lot can happen during the intervening period. So break out the Cuervo, time for a bit of a celebration. It's not a win yet, but at least it looks as if we're in the game. Disagree with you here. When SDSU gets the land they will build the stadium first obviously. I would guess the park will also be high on the city and SDSU list. They already have buildings they lease in MV that could be eventually moved to MV. The land will certainly not be developed over night. It will be 20-30 years or more for build-out. Hell, even FoS investors weren't going to build out MV for 15 years. So, yes if you are 60 you may not live to see the Grand SDSU WEST; you should see a new stadium in 5 years or less. Rather presumptuous, no? Just because you heard that SDSU had enough money to purchase the MV land (at the Soccer City price, mind you), doesn't mean that it's a foregone conclusion. Like I said, as soon as a deal is inked....no wait, I mean as soon as SDSU actually breaks ground, then I'll believe. But by then, who knows, I might be too old to know which way is up. |
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Post by SDSU-Alum2003 on Jun 28, 2017 20:46:56 GMT -8
Disagree with you here. When SDSU gets the land they will build the stadium first obviously. I would guess the park will also be high on the city and SDSU list. They already have buildings they lease in MV that could be eventually moved to MV. The land will certainly not be developed over night. It will be 20-30 years or more for build-out. Hell, even FoS investors weren't going to build out MV for 15 years. So, yes if you are 60 you may not live to see the Grand SDSU WEST; you should see a new stadium in 5 years or less. Rather presumptuous, no? Just because you heard that SDSU had enough money to purchase the MV land (at the Soccer City price, mind you), doesn't mean that it's a foregone conclusion. Like I said, as soon as a deal is inked....no wait, I mean as soon as SDSU actually breaks ground, then I'll believe. But by then, who knows, I might be too old to know which way is up. You are kidding yourself if you don't believe SDSU is going to be a part of ANY development in Mission Valley. They have multiple pathways to acquire land in Mission Valley. What pathway will they take? When will it happen? How much land will they get? Those are the primary questions. So yes, I don't see ANY scenario where SDSU gets nothing in Mission Valley. Best case scenario is they get all 166 acres. Go SDSU WEST! Go AZTECS! |
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