San Diego State’s plans for a new multi-use stadium received approval from the California State University Board of Trustees on Tuesday, according to a university announcement.
With approval from the board on the project’s design and financing plan, SDSU can now prepare for its first steps towards preparing the site for construction — although the university remains in negotiation with the city over the sale and transfer of the land.
Aztec Stadium will be the first of several projects in SDSU’s Mission Valley expansion. The stadium will hold 35,000 people, inviting the possibility of concerts and professional sports games to take place, according to the university.
The announcement also said the new stadium will be located in the northwest corner of the site, so construction will not interfere with the use of SDCCU Stadium, the current home of the Aztecs.
With a $310 billion price tag, the stadium will be funded by CSU-backed revenue bonds and philanthropic gifts, according to the project’s website.
In December, SDSU received a $15 million donation from philanthropist Dianne L. Bashor in December. The stadium’s field will be named in her honor.
The multi-use stadium is a part of the university’s plans for a new campus in Mission Valley. Approved by CSU’s Board of Trustees in January, the campus is expected to hold 15,000 more students, offer more housing options and expand research programs.
The plans also include a 34-acre river park owned by the city.
The university said due to current events, it will continue to make adjustments to the planning schedule as necessary.
“Current events remind us that we need to approach every decision with intention,” SDSU President Adela de la Torre said. “The board’s approval today means that we can move forward in our planning and deliberation, and advance Mission Valley as it makes the strongest sense for our students and for San Diego.”
Although the stadium project is getting ready to take off, the university still must negotiate with the city of San Diego regarding the final purchase and sale agreement for the property.
