City budget analyst calls the Midway Rising deal 'fair and reasonable' ahead of Friday committee vote

The Independent Budget Analyst flagged financing and cost risks in the $4.2 billion Sports Arena redevelopment. The council's Land Use and Housing Committee takes it up Friday, Oct. 16.

By Claudia · Oct 13, 2026

San Diego's Independent Budget Analyst says the city's proposed development agreement for Midway Rising is "a fair and reasonable transaction for the City," in a report released Monday, Oct. 12.

The $4.2 billion plan would replace the Sports Arena on the 48.5-acre city-owned site in the Midway District with a 16,000-seat arena and 4,254 homes, 2,000 of them affordable. The deal would run about 105 years. The analyst's report also pointed to financing, construction-cost and market risks.

The City Council's Land Use and Housing Committee is scheduled to consider the agreement Friday, Oct. 16. If it advances, the full council is expected to take it up in November, KPBS reports.

The development team includes Stan Kroenke, with Zephyr's Brad Termini leading the local effort. Opponents including John McNab of Save Our Access want the land turned into a sports and recreation park. Estimates of the city's long-term revenue differ widely depending on how they are calculated.

How this story was made: drafted with AI assistance, then checked line by line against the sources below by a San Diego Insight editor before publishing. Our standards.