Groundbreaking Ceremony for Construction Beginning the $1.5 Billion Manchester Pacific Gateway Project
Groundbreaking Ceremony for
Construction Beginning the $1.5 Billion
Manchester Pacific Gateway
Project
On Friday, June 1, 2018, the Manchester Financial Group held a
ceremonial groundbreaking for the construction beginning on the largest private
real estate project in San Diego, the Manchester Pacific Gateway. The redevelopment
is an incredible milestone for San Diego and will shape our entire waterfront.
The $1.5 billion project will spread over 12 acres and include a
17-story building to serve as the U.S. Navy's regional
headquarters, four class A office buildings, two hotels, a museum, a retail
promenade and a 1.9-acre park.
Photo: Michael Burton (Right), Doug Manchester (Middle), Vince Provenzano (Left)
In attendance at the exclusive ceremony was Papa Doug Manchester’s
closest family and friends, the Manchester Financial Group, newscasters and
radio personnel, San Diego Mayor Kevil L. Faulconer, Michael Burton of Flocke
& Avoyer, Vince Provenzano, President of Brokerage at Pacific Coast Commercial, as well as special
performances by the San Diego Symphony and more.
Michael Burton, Senior Vice President at Flocke & Avoyer and
his team, Urban Strategies Group, will
represent the entire retail sector of Manchester Pacific Gateway. This includes
391,000 square feet of high-end restaurants and shops, surrounded by 1,350
hotel rooms, 1.1 million square feet of office space, and 4.5 acres of public
open space.
Vince Provenzano was in attendance mainly to support The
Manchester development, the efforts of leasing agent Michael Burton of Flocke
& Avoyer, and as a representative for his client, Truluck’s Seafood Steak
and Crab House. Truluck’s is an upscale
national franchise interested in securing a space at the Manchester Pacific
Gateway in the coming years as part of the Truluck’s country wide expansion.
Photo: Urban Strategies Group
Michael Burton & Beth Sargent (back),
Ashley Tiefel, Pacquale Ioele, Alex Drecksel & Caitlyn De Wit (front)
The Manchester Pacific Gateway will be nothing short of immense commercial
impact and expansion for our City, and Pacific Coast Commercial is thrilled to
support Flocke & Avoyer and the Urban Strategies Group in their successes
and endeavors of this large scale project.
A rendering of the Manchester Pacific Gateway. The Navy headquarters
is the tower at right.
“This is an incredibly important and
transformative project. It’s going to shape our waterfront,” said Mayor Kevin
Faulconer. “This is eight blocks of some of the most special property in
California.”
Developer Papa Doug Manchester said the project took 12 years to
reach the start of construction, but will be more than worth the time invested
for both the Navy and the city.
“This
represents what will end up being a $15 billion economic benefit to the San
Diego region without a government subsidy,” he said, that it will
support thousands of jobs during construction and after opening.
The Navy exchanged the land for the new 17-story
headquarters building, a $174 million structure that replaces deteriorating
1920s-era buildings and parking lots.
The Navy originally had asked Congress to fund
a new regional headquarters in the 1980s. When the project failed to receive an
appropriation, then-Rep. Bill Lowery (R-SD) won approval to get the Navy a new
building at no cost to taxpayers in exchange for granting a developer the rest
of the site for commercial development.
We wish everyone involved in the project luck and prosperity as we patiently await the redevelopment of San Diego’s waterfront.
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