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Chula Vista Bayfront Resort Hotel & Convention Center Project Moves Forward with RIDA, Gaylord Hotels Negotiations; New Renderings Released

Jun 20, 2017 06:23PM ● Published by Paul Spear

What: Port of San Diego and City of Chula Vista to Hold Joint Meeting to Approve Key Document for Development of Chula Vista Bayfront Resort Hotel and Convention Center

When: Tuesday, June 20, 2017. Joint meeting begins at 1:15 p.m. Media are advised to arrive before 12:45 p.m.

Where: Port of San Diego Administration Building, 3165 Pacific Highway, San Diego, CA 92101.

Who: Port Chairman Robert “Dukie” Valderrama; Port Commissioner Ann Moore (Chula Vista representative to the Board); Chula Vista Mayor Mary Casillas Salas

Visuals: NEW conceptual renderings of future resort hotel and convention center for Chula Vista Bayfront and overall site plan. Click here for staff report on this agenda item, including renderings and other related attachments (150 dpi resolution images available. Sorry, hi-res renderings not available).

Significance: The Port of San Diego is in formal, exclusive negotiations with RIDA Chula Vista, LLC to develop a future resort hotel and convention center planned as part of the Chula Vista Bayfront redevelopment project. In parallel, RIDA has been in its own negotiations with Gaylord Hotels to manage and operate the future resort hotel and convention center. This potential partnership is described in the terms included in a proposed, non-binding Letter of Intent (LOI) among the Port of San Diego, City of Chula Vista, and RIDA.

The proposed LOI will be reviewed and voted on by the Board of Port Commissioners and the Chula Vista City Council in a joint meeting at 1:15 p.m. on Tuesday, June 20, 2017 (media are advised to arrive before 12:45 p.m.). The LOI will be the first major, public milestone for the Chula Vista resort hotel and convention center since the approval of the Exclusive Negotiating Agreement (ENA) with RIDA, and will set the stage by defining the key economic terms which will be included in the definitive agreement to be presented to the Board and City Council for consideration at a later date.

About RIDA Development Corporation
RIDA Development Corporation is a full service real estate organization that has created and invested in innovative and economically successful office, residential, industrial, hospitality and retail developments for more than forty years. RIDA Development's corporate headquarters is located in Houston, TX with regional offices in Orlando, FL and Warsaw, Poland. These centralized locations allow RIDA Development to intimately oversee its projects in the US as well as Europe. Among RIDA Development's strategic relationships is a longstanding partnership with Ares Management, L.P. with whom they have co-invested in over $4 billion worth of investments and development on three continents. RIDA Development’s recent projects include the Omni Orlando Resort at ChampionsGate, Hilton Orlando, Marriott Marquis Houston, and Gaylord Rockies (currently under construction and the largest new hotel construction in the U.S.).
About Gaylord Hotels
Gaylord Hotels is the large convention hotel brand of Marriott International. Gaylord properties include: Gaylord Opryland in Nashville, Tenn.; Gaylord Palms in Kissimmee, Fla. near Orlando; Gaylord Texan on Lake Grapevine near Dallas, Texas; Gaylord National on the Potomac in National Harbor, Md.; Gaylord Rockies opening late 2018 near Denver, Co.; and The Inn at Opryland in Nashville, Tenn.
About the Port of San Diego:
The Port of San Diego serves the people of California as a specially created district, balancing multiple uses on 34 miles along San Diego Bay spanning five cities. Collecting no tax dollars, the Port manages a diverse portfolio to generate revenues that support vital public services and amenities.

The Port champions Maritime, Waterfront Development, Public Safety, Experiences and Environment, all focused on enriching the relationship people and businesses have with our dynamic waterfront. From cargo and cruise terminals to hotels and restaurants, from marinas to museums, from 22 public parks to countless events, the Port contributes to the region’s prosperity and remarkable way of life on a daily basis.
About the City of Chula Vista
The City of Chula Vista is located at the center of one of the richest cultural, economic and environmentally diverse zones in the United States. It is the second-largest City in San Diego County with a population of 268,000. Chula Vista boasts more than 50 square miles of coastal landscape, canyons, rolling hills, mountains, quality parks, and miles of trails. Chula Vista is a leader in conservation and renewable energy, has outstanding public schools, and has been named one of the top safest cities in the country. Established neighborhoods, contemporary communities, start-up firms, corporations, nationally recognized entertainment venues, an elite athlete training center – a U.S. Olympic and Paralympic Training Site, award winning wildlife zoo and aquarium, and historic downtown all contribute to Chula Vista’s attraction for both families and businesses.
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