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Firm proposes new Chargers stadium

Sept. 18, 2007 at 5:19 PM   |   Comments

SAN DIEGO, Sept. 18 (UPI) -- A San Diego real estate and finance firm has drawn up plans to transform Qualcomm Stadium into a sports, entertainment, residential and commercial complex.

CB Richard Ellis Capital Markets Debt and Equity Finance said the proposed $2.2 billion project would include a new Chargers stadium, an arena for a professional basketball or hockey team and space for concerts and trade shows, the San Diego Union-Tribune reported Tuesday.

“This would create a world-class sports and entertainment destination for San Diego,” said Jeff Rice, a senior financial analyst for CB Richard Ellis who has worked for four years to develop the plan. “It would be a place that could host Super Bowls, soccer championships, major concerts and trade shows.”

Rice said the “fiscally responsible” plan would bring revenue to the city and counteract the $10 million annual deficit caused by the current stadium.

City and county officials said they have yet to analyze the plan.

© 2007 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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