CHULA VISTA, California— The city of Chula Vista, California, and the Port of San Diego have successfully secured $275 million in public bond funding for construction on the Chula Vista Bayfront, a milestone that allows the flagship Gaylord Pacific Resort and Convention Center project to break ground.
The 1,600-room hotel will rise 22 stories, offering panoramic views of the San Diego Bay and Pacific Ocean. Amenities in the hotel will include a spa, recreational facilities, a pool with a lazy river and bike and boat rentals. The convention center will feature meeting rooms, an elevated ballroom and the largest exhibit hall in California, as well as restaurants and lounges.
The Chula Vista Bayfront project has been in the works for decades, and recent years have focused on securing and structuring the public and private financing. The total estimated cost to construct the resort hotel, parking improvements, convention center and associated improvements is $1.35 billion. The public financing of $275 million in bonds, along with other funding sources, is essential to build the new convention center, a new park and for site preparation, utility connections and improvements to streets surrounding the site.
With the final milestones complete, construction can begin on the Gaylord Pacific Resort and Convention Center, and a groundbreaking celebration will be scheduled this summer.
“Chula Vista deserves the best, and we have always believed our city is worthy of a world-class bayfront. Many years of effort have brought us to this point, and I am overjoyed that we have secured funding for the Chula Vista Bayfront,” said Chula Vista Mayor Mary Casillas Salas. “This is the culmination of decades of commitment and leadership by many people in our community, and we will all celebrate this victory together.”
The project is expected to create 3,580 jobs during construction. Once open, it will have an estimated economic impact of $500 million dollars each year and produce 4,000 permanent jobs.
For more information about the Chula Vista Bayfront, visit portofsandiego.org/projects/chula-vista-bayfront.