San Diego State University released a statement Tuesday afternoon explaining the decision to pull out of negotiations with FS Investors about the Soccer City project that would include a shared stadium along with almost 5,000 housing units, along with retail shops, offices and restaurants and a river park. FS Investors collected more than 100,000 signatures on petitions that they are presenting to the San Diego City Council and urging the council to put it on the special election ballot in November.
Here is full statement released by SDSU:
"For well over a year, San Diego State University has engaged in discussions with FS Investors on a possible partnership opportunity at the Mission Valley site. Unfortunately, a fair, equitable deal that would provide opportunity for the long-term success of SDSU and Aztec football, as well as a transparent deal for the citizens of San Diego, could not be reached.
"Recently, Mayor Kevin Faulconer reached out to SDSU in an attempt to facilitate a deal on behalf of SDSU with FS Investors. SDSU reiterated our offer to purchase land and to provide our fair share of infrastructure costs, but still no agreement could be reached.
"While SDSU’s current campus footprint of 238 acres is sufficient to support the University’s aspirations in the short term, we have long-articulated the need for more space for the advancement of the University over the next 50 years. The Mission Valley opportunity is a once-in-a-generation chance for SDSU to expand its research, tech transfer, collaboration space and other future needs, as we continue to ascend toward becoming a top 50 public research institution.
"With these concerns and motivations in mind, SDSU will not engage in any further discussions with FS Investors. We urge the City of San Diego to pursue a transparent RFP process to develop a plan that will accomplish the community’s vision for this vital property, and serve the San Diego Region for decades to come."
Here is statement released late Tuesday afternoon by Nick Stone, FS Investors Project Manager of GoalSD, in response to statement from San Diego State University:
"It's another sad chapter in the saga of departing university leadership moving the goal posts. Unbelievably, they continue to walk away from people trying to help them. It's clear this decision will jeopardize Aztec football. One would have hoped an issue of this magnitude would warrant a meeting with the new administration, and yet the person making this decision will be at a new East Coast university safe from the aftermath his lack of leadership has created. Despite this announcement, we stand ready to work with new leaders at SDSU to support the long term goals of an institution we care about deeply."
San Diego Mayor Kevin Faulconer spokesman Matt Awbrey issued a statement saying the city cannot afford to keep Qualcomm Stadium open after 2018. “While we are still willing to engage with SDSU, this decision has unfortunately put the university in a situation where this process will move forward without their involvement,” Awbrey said.
(Photo credit reporting partner 10News)