The California State University Board of Trustees has approved the design and financing plan for San Diego State University’s new multi-use stadium in Mission Valley.
The board’s approval enables SDSU to continue preparation for the 35,000-capacity Aztec Stadium, which will be among the first projects to be constructed as part of the SDSU Mission Valley campus.
SDSU and the CSU will continue to assess the ongoing impacts of current events and make adjustments to the schedule and planning as needed.
SDSU President Adela de la Torre said:
We are pleased that the trustees continue to share our vision for this project, as the construction of the stadium is a key first step allowing us to unlock the rest of the Mission Valley site plan.
Current events remind us that we need to approach every decision with intention. The board’s approval today means that we can move forward in our planning and deliberation, and advance Mission Valley as it makes the strongest sense for our students and for San Diego.
The multi-use stadium, estimated to cost $310 million, will be funded through philanthropic gifts as well as system-wide revenue bonds that will be paid back with revenue generated by the facility including ticket revenue, naming rights and concessions.
Operating costs will also be supported by revenue generated by the facility (e.g., ticket revenue, facilities rental revenue, naming rights, sponsorships, donations).
The multi-use stadium will be located in the northwest corner of the site, which allows SDSU to continue to use the existing SDCCU Stadium while construction of the new multi-use stadium is completed. The new facility is being designed to meet a LEED Gold standard.
The project is part of the larger SDSU Mission Valley Campus Master Plan which was approved by the Board of Trustees in January.