The city's independent budget analyst says that over the course of the 30-year lease, San Diego would pay $72 million in rentWednesday announced a tentative 30-year lease deal to transform a 65,000-square-foot commercial building in Middletown into a massive homeless shelter and resource campus, but others aren't so confident it is the right move.on Monday, is for 30 years at a cost of $1.95 per square foot with annual 3.5% rent increases and an estimated $12.
"The proposal represents an opportunity to change the city's current approach to shelter by pursuing permanent emergency shelter and potentially provide needed replacement and new shelter beds," the IBA report reads."However, the proposal also comes with an above market rate lease, as well as significant upfront and ongoing costs associated with rent, lease operating, tenant improvement and program operating costs.
property is not available for purchase; however, San Diego has first right of refusal should landlord sell the propertydeal includes adjacent parcel of land that can serve"multiple uses including for additional shelter and services" San Diego Mayor Todd Gloria wants to turn a 65,000-square-foot warehouse on Kettner Boulevard and Vine Street into a 1,000-bed homeless shelter. NBC 7 spoke with San Diego City Council President Sean Elo-Rivera about what he hopes to hear during the public session later this month.