San Diego Mayor Todd Gloria and the Midway Rising team announced Monday that the real estate development firm founded by Los Angeles Rams owner Stan Kroenke will become a partner in redevelopment of the 48.5-acre San Diego Sports Arena site.
“Today’s announcement of The Kroenke Group’s addition to the Midway Rising team underscores that San Diego is a world-class city that can attract significant investment in projects and enterprises that elevate the community for all our residents,” said Gloria.
“I’m proud to welcome The Kroenke Group to San Diego and am looking forward to seeing the sports arena property’s transformation into a place for San Diegans to live, work and play,” he added.
The privately held Kroenke Group manages more than 100 million square feet of real estate across the country and has developed SoFi Stadium in Inglewood, Emirates Stadium in London, and Ball Arena and Dick’s Sporting Goods Park in Denver.
The firm’s founder owns NFL’s Los Angeles Rams, NBA’s Denver Nuggets, NHL’s Colorado Avalanche, MLS’ Colorado Rapids, as well as Arsenal F.C. of the English Premier League.
The firm will be involved in all aspects of the Midway Rising project, which includes more than 4,000 new housing units, a state-of-the-art 16,000-seat arena, new parks, restaurants, shops and other community amenities.
Day-to-day redevelopment operations will continue to be managed by the existing Midway Rising team partners — Zephyr Partners, Legends and Chelsea Investment Corporation.
“This project is an incredibly exciting opportunity for The Kroenke Group to make a profound impact in San Diego, and it lays a foundation for our future investment in the community,” said Jason Gannon of The Kroenke Group.
The city selected the Midway Rising team to redevelop the arena site in September 2022. Late next year, the project team hopes to bring a long-term lease and development plan to the San Diego City Council for approval.
