New Development on The Horizon (Week 3)

Gaylord Pacific Resort & Convention Center

Opening this summer in Chula Vista, the Gaylord Pacific Resort & Convention Center will be a world-class destination for residents and visitors. The resort will be 22 stories tall and feature 1,600 rooms (including 89 suites), with breathtaking views of the San Diego Bay and the Pacific Ocean. 

Quick facts about the hotel -

• 7 miles from downtown San Diego

• Over 10 restaurants and bars

• Modern fitness center

• 4.25-acre water park that includes waterslides, a lazy river, wave pool, water playground, surf simulator, and multiple resort-style pools.

The Gaylord Pacific will also include a convention center with 477,259 square feet of indoor and outdoor event space, including the largest exhibit hall in CA (140,049 square feet).

McCarthy Joint Venture partnered with RIDA Development and HKS Architecture to complete this development.

Key Takeaways

This development will improve the local economy, increase tourism, and create numerous job opportunities. It’s likely that retail, office, and residential spaces in this submarket will be impacted, with property values expected to rise. 

Retail Space - Increased foot traffic from visitors and convention people will drive demand for retail space. This could attract new businesses and increase revenue for existing ones.

Office Space - An increase in business travelers and conventions could increase the demand for office space. Companies may want to be located close to the state-of-the-art convention center for meetings and events.

Residential Space - An increase in visitors and new job opportunities could increase the demand for residential properties - both for renters and buyers.

Source - HKS Inc. - Gaylord Pacific Hotel and Convention Center.