San Diego Union-Tribune (Sunday)
Brookfield should bring in partner on project
Re “City forced to reexamine sports arena deal” (April 7): The requirement of the Surplus Land Act dedicating public land to affordable housing sets up some interesting possibilities. The 48-acres in San Diego’s Midway District would be a heavy lift for affordable housing developers, capable as they are in our state and region.
Also, the notion of a 48-acre enclave of affordable housing is not an optimal land use plan. The site should certainly accommodate substantial affordable housing at all levels but within a creative mixedincome, mixed-use community.
The opportunity here is for a partnership between Brookfield Properties and affordable housing developers. Brookfield brings access to private capital and development expertise, including some with affordable housing. The affordable housing developers in the region are among the most adept in the country at accessing other essential sources of capital (e.g., tax-exempt bonds, tax credits). The quality of their products and its management (including enhanced services for residents) matches the private market.
Evan E. Becker Point Loma