Massive project slated for Southern California

There's a massive construction plan breaking ground in the San Diego metro market.

After 15 years of planning, business and civic leaders were finally able to break ground on a multibillion-dollar project in Chula Vista, Calif., the second largest city in the San Diego metropolitan area. The project, helmed by the Corky McMillin Companies, is set to develop a 210-acre area in Chula Vista's Otay Ranch community.

"This is the first major development, cornerstone-type project in the city of Chula Vista in the last eight years," Mayor Cheryl Cox told U-T San Diego. "We're back."

The Corky McMillin Companies plans to erect an urban-style center in the middle of the Otay Ranch Master Plan area. U-T San Diego reports that the development will bring in around 9,000 jobs along with 8,500 residents by the time it is totally built in 20 years.

"Chula Vista has become a destination point and the Millenia project is just going to offer more and more opportunities," said Cindy Gompper-Graves, CEO of the South County Economic Development Council.

Scott McMillin, chairman of the McMillin Companies, said that the 210-acre project, which is about 80 city blocks, could be the future city center of the area, according to the San Diego Business Journal.

Development plans call for 2 million square feet of office space rising, along with 1.5 million square feet of retail. The area will also see six themed urban parks, public promenades and bike paths.

When it will start
The San Diego Business Journal reported that construction is anticipated to kickoff on the initial designs within 12 months. Opening construction includes a 270-unit apartment community being built by Fairfield Residential, a San Diego-based company.

The Fairfield plans see rentals of one-, two- and three-bedroom units ranging from $1,600 to $2,300.

"We're producing a very high-end luxury development," Shon Finch, development manager at Fairfield Residential, told U-T San Diego. "Not only will we have internal amenities … we'll also have connectivity and the walkability to get to close-by areas so you can pretty much get to anything you need."

Gary London, an economic consultant and president of London Group Reality Advisors, believes the project can revolutionize the region and its economic outlook.

"Most importantly, it's about the last piece of undeveloped green property available … this is the big, last ranch project for the region," London told U-T San Diego. "In that respect it's a golden opportunity."

London said it boils down to another option for consumers. Twenty years ago they might have looked to North County, but now they will have a development right in their backyard capable of delivering in multiple facets.

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