SAN DIEGO — With empty storefronts and boarded up windows, many viewers have been asking us, "What's going on with the old Costa Verde Shopping Center?" CBS 8 has been Working For You on an update.
“It’s dilapidated and it’s getting worse by the day,” said Susan Carlson, who lives nearby.
The run-down, 14-acre strip mall located at 8410-8750 Genesee Avenue in University City was built in 1989, and it has seen better days.
“It’s quite frustrating because we used to have a really nice market here, the Bristol Farms market, and we don’t have that anymore,” a nearby resident told CBS 8.
The only action this place has seen in recent years was a military exercise. Loud booms and low-flying helicopters caught residents by surprise in February 2023, as the U.S. Army conducted air-to-ground mobility and close-quarters combat training around the empty storefronts.
In November 2020, plans were approved by the San Diego City Council for a mixed-use campus involving 400,000 square feet of bioscience labs, a 200-room hotel, and 178,000 square feet of retail space, to be jointly financed by the landowner Regency Centers and biotech office builder Alexandria Real Estate (ARE). Little more than a year later, ARE bought the aging strip mall for $125 million from Regency Centers, who exited the project.
CBS 8 found that building construction permits for the Costa Verde Revitalization Project expired in November 2023. After checking with the City of San Diego’s Development Services, we've learned that an extension of time for their permits was granted in May 2024. At this point, however, ARE has taken no real steps to begin demolition or move forward on any finalized plans.
“We’re just being taken for a ride, frankly," said Carlson. "They’re just putting us off and putting us off, and maybe they lost their funding, I mean who knows at this point?”
Alexandria Real Estate has office space in Torrey Pines, but their corporate offices are based in Pasadena. CBS 8 has called and emailed ARE several times this year asking about the redevelopment and any construction timelines, but so far the company has been completely unresponsive.
“The simple fact that nobody seems to be doing anything and no one’s answering your phone calls really makes I think myself and everybody in the neighborhood suspicious that something’s just not right,” said Carlson.
CBS 8 checked in with Chris Nielsen, Chair of the University City Planning Group. He said that last he knew, ARE has been working on final plans for the property while weighing their options, but so far, they’ve not presented anything to them.
At CBS 8, we are always Working for You and our community. This is a station promise that we will go the extra mile to solve a problem our audience can’t solve themselves. We want to hear your ideas on how we can cover and help our community. If you have a story idea, please email us at workingforyou@cbs8.com.
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