A modified Ballpark Village plan was approved on a 5-1 vote with San Diego City Councilman Brian Maienschein voting no Tuesday night. The property consists of two parcels totaling 7.2 acres along the Park Boulevard extension across from Petco Park.
Plans call for as many as 1,300 multifamily residences in highrise towers. While most of these units will be constructed onsite, some low-income apartments will be built on three other East Village blocks owned by St. Vincent de Paul.
The Ballpark Village project wouldn't only be residential, the estimated 3.2 million-square-foot project calls for about 300,000 square feet of office space, 115,000 square feet of retail space and a major hotel.
Once completed, Ballpark Village is projected to bring in more than $20 million annually in property taxes, sales tax and transient occupancy tax, according to the Centre City Development Corp.
The development has already earned the praise of a variety of environmental groups such as The Sierra Club for its pledge of energy efficient buildings.
The project is a joint venture of Lennar Urban Division and John Moores' JMI Realty development firm.