Update March 2022: Re Costa Verde – At the March UCPG and UCCA community meetings, the UCPG planning group chair announced that Alexandria (the property owner and developer) intends to build out the property within the scope of the existing permits with a hotel, life-science office space, and retail. All existing tenants were expected to vacate the property by March 15. There is no decision yet on the retail mix of stores; that is yet to be determined. There will be some kind of grocery market but it will not be a large chain. It’s expected to be a smaller grocery neighborhood market that caters to pedestrians rather than to automobiles. The small area with McDonald’s and the gas station will remain as is.
From the San Diego Union Tribune: City Council approves shopping center overhaul that includes biotech lab space by Alexandria and a 200-room hotel. The dated Costa Verde strip mall opposite Westfield UTC will be refashioned into a modern retail center with a life science campus and business hotel meant to be a perfect fit for future riders of the Mid-Coast Trolley line.
Tuesday (November 11, 2020), City Council members voted unanimously to approve a general plan amendment and a community plan amendment, and certify the project’s environmental analysis. The actions effectively clear the Costa Verde Revitalization project for development, with completion now anticipated for late 2023.
In the works since 2015, the Costa Verde redo is a marriage of transit convenience for center owner Regency Centers and esteemed biotech office builder Alexandria Real Estate. The land owner and the office developer have teamed to jointly finance the overhaul of the 13.9-acre site sandwiched between La Jolla Village Drive and Nobel Drive at 8560 Genesee Ave.
That’s an excerpt from the SDUT article posted on November 11, 2020; to read the complete report, visit https://www.sandiegouniontribune.com/business/growth-development/story/2020-11-11/costa-verde-strip-mall-near-utc-cleared-for-total-redo
For related information from UCCA, visit https://www.universitycitynews.org/?s=costa+verde
