Chula Vista City Hall. Photo by Chris Stone

Port of San Diego officials and Chula Vista city leaders unanimously approved financial terms with RIDA Development Corp. to build a resort hotel and convention center along Chula Vista’s bayfront.

The project would include a 1,450-room hotel and a 275,000 square-foot convention center. Project talks began in 2004 and the California Coastal Commission approved the plan in 2012.

The project is expected to cost about $970 million with the Port of San Diego and the city of Chula Vista paying for about a third.

RIDA is the builder and Gaylord Hotels will run the resort when it opens.

Officials believe annual economic impact could be nearly $400 million while adding around 3,700 permanent jobs.

Officials report construction could start in 2019 and finish in 2022.

The next step is a meeting between the parties to approve a definitive agreement that is expected later this year.

—City News Service