Opinion: Scrutiny of massive waterfront Seaport San Diego project is called for [Opinion]
” : The waterfront plan is a creative use of buildings and property, but I worry it may also use creative financing. The owner’s equity of “up to $40 million” represents less than 2 percent of funds needed to develop a $3.5 billion project. That seems low and deserves as much attention from Port commissioners, Port staff and reporters as the design of the buildings and their uses.
In addition, I hope the board of Port commissioners understands the historic property they are taking from public control and giving to a private developer. City leaders have referred to our waterfront as the “Plymouth Rock of the West” where the first European settlers set foot on the West Coast of our nation. This history should not be erased, but honored.
Our community has some of the finest professors and historic society members, and their knowledge of our community’s history should be part of any plan.