The Navy signed a 100-year lease at 1220 Pacific Highway with the city of San Diego on Aug. 9, 1949.
SAN DIEGO - The Port of San Diego's Board of Commissioners Tuesday agreed with the U.S. Navy to end a lengthy lease early on a Downtown San Diego waterfront property, freeing the site up for development.
The 3.4-acre site consists of four parcels opposite the B Street Pier, consists of parking lots and office buildings. It is surrounded by high-end hotels and the port-owned Lane Field Park. In exchange, the port will fund one or more Navy-selected projects for a new facility or improvements to an existing facility at a cost not-to- exceed $5.75 million. However, the port is also responsible for any demolition, improvements or retrofitting at the site.
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