San Diego and a property management company continue to escalate their fight for long-term control of Liberty Station, a large mixed-use property in a strategic location near the planned sports arena and NAVWAR projects.
The City Council is scheduled to approve complex agreements Tuesday that aim to cement the city’s ownership and control of the sprawling 20-year-old development and keep it away from the management company.
The company, Seligman Properties, is stepping up its campaign to convince city officials to sell Liberty Station with a new purchase offer, plans for new appraisals and a new economic analysis.
Those efforts build on Seligman’s ongoing legal efforts to force a sale based on state law governing how cities handle properties they acquired from redevelopment agencies after California dissolved those agencies in 2012.
San Diego acquired Liberty Station from its redevelopment agency and then formally designated the area a “future development” site instead of a “liquidation” site, which has allowed the city to avoid selling it.
Seligman’s new economic analysis, put together by local real estate adviser Gary London, says the city’s insistence on maintaining ownership will cost it millions in tax revenue and lead to long-term deterioration of the site.
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2 weeks ago
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