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SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
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billybobby777 Offline
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Post: #41
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-18-2017 05:28 PM)Native Georgian Wrote:  So, is this still happening?
(01-12-2017 12:13 PM)SDSU-Alum2003 Wrote:  This is the future for San Diego State University...

[Image: 837]

Hahahaha....
The sleeping giant may never wake up.
05-18-2017 06:40 PM
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panama Offline
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Post: #42
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
Don't think everyone is on the same page.

In our case as soon as the Braves announced they were moving, President Becker was receiving a call from the city within hours. Everyone started with the preconceived notion that this deal was going to get done. After that everyone jumped on board except a few neighborhood protesters. If the city of San Diego is not pushing SDSU fully and bending over backwards to make sure this deal gets done then it will not get done.

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(This post was last modified: 05-18-2017 09:03 PM by panama.)
05-18-2017 08:31 PM
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panama Offline
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Post: #43
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-18-2017 08:52 PM)Native Georgian Wrote:  
(05-18-2017 08:31 PM)panama Wrote:  If the city of San Diego is not pushing SDSU fully and bending over backwards to make sure this deal gets done then it another done.
??
Fixed

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05-18-2017 09:03 PM
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Stugray2 Offline
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Post: #44
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-18-2017 05:28 PM)Native Georgian Wrote:  So, is this still happening?
(01-12-2017 12:13 PM)SDSU-Alum2003 Wrote:  This is the future for San Diego State University...

[Image: 837]

In a word NO

This never had a chance. First it would have required the California State University release the entire campus improvement budget for the next, oh, maybe two decades for the entire 23 campus system. Just, you know, kind of, maybe, this might have a tiny little problem of getting regents approval (can't see 22 schools agreeing to shelve facilities plans for a decade). The money has to come from somewhere else. The other little problem was getting the city of San Diego to simply hand over > $1B in property; that also might have a problem (understatement).

The above was never more than a pipe dream, so the school was working on plan B, get a corner of the city land at the Q, by partnering with the SoccerCity development folks, known as FS Investors. But this is SoccerCity is a scam and is headed to the dumpster soon as well - the people of San Diego were getting wise to it. SDSU was wise to drop out.

So here we are at plan C. ... (similar to Oakland's plan C for the new Raider stadium).

New President Sally Roush made the tough call. But it's right. What she is asking is for the city to set aside 25% of the site for a Stadium so they can begin work and hopefully have a home in 2020. She may get nothing, but it's the correct approach. RFP should be the approach. I think it will take months to happen. RFP means the SDSU dream is pretty much off the table, and Soccer City dead.
(This post was last modified: 05-19-2017 12:21 AM by Stugray2.)
05-18-2017 09:45 PM
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CougarRed Offline
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Post: #45
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-18-2017 02:48 PM)The Cutter of Bish Wrote:  But, when you Colo St going full bore into a football stadium the state is just letting them blow money on . . .

I could not believe that financing plan got approved. Colo St raised so little money and floated so many revenue bonds that the stadium will require $13M in annual debt service for the next 30 years.

Consider: 1) the entire Colo St athletic department generates about $18M a year in revenue outside of school subsidies and student fees, 2) the new stadium only seats 36,000, and 3) they have reserved 10,000 of those seats for students. So even if the other 26,000 seats were sold (which they won't) and generated an average of $500 a year (which they won't), that entire $13M would go straight to paying the interest on the debt. Do not pass go. Do not fund football or any other sport's operating expenses.

However, Hughes Stadium was old and borderline condemnable. If the school wanted to continue playing football, they needed a new stadium (or considerable renovations to Hughes) even though their boosters fell way short of their fundraising goal.

So the school's debt rating, or the school's endowment, or the taxpayers, or the students . . . will eventually take it in the shorts.
(This post was last modified: 05-19-2017 08:15 AM by CougarRed.)
05-19-2017 07:18 AM
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MWC Tex Offline
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Post: #46
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-18-2017 09:45 PM)Stugray2 Wrote:  
(05-18-2017 05:28 PM)Native Georgian Wrote:  So, is this still happening?
(01-12-2017 12:13 PM)SDSU-Alum2003 Wrote:  This is the future for San Diego State University...

[Image: 837]

In a word NO

This never had a chance. First it would have required the California State University release the entire campus improvement budget for the next, oh, maybe two decades for the entire 23 campus system. Just, you know, kind of, maybe, this might have a tiny little problem of getting regents approval (can't see 22 schools agreeing to shelve facilities plans for a decade). The money has to come from somewhere else. The other little problem was getting the city of San Diego to simply hand over > $1B in property; that also might have a problem (understatement).

The above was never more than a pipe dream, so the school was working on plan B, get a corner of the city land at the Q, by partnering with the SoccerCity development folks, known as FS Investors. But this is SoccerCity is a scam and is headed to the dumpster soon as well - the people of San Diego were getting wise to it. SDSU was wise to drop out.

So here we are at plan C. ... (similar to Oakland's plan C for the new Raider stadium).

New President Sally Roush made the tough call. But it's right. What she is asking is for the city to set aside 25% of the site for a Stadium so they can begin work and hopefully have a home in 2020. She may get nothing, but it's the correct approach. RFP should be the approach. I think it will take months to happen. RFP means the SDSU dream is pretty much off the table, and Soccer City dead.

Sounds like SDSU is out of luck and really Soccer City is their only chance for a stadium to play in. The city isn't going to gift SDSU valuable land.
RIP Aztec football...2019.
(This post was last modified: 05-19-2017 08:20 AM by MWC Tex.)
05-19-2017 08:15 AM
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panama Offline
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Post: #47
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
All of this makes me shudder. Can't believe we walked away with a stadium and 67 acres for $30M.

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05-19-2017 08:16 AM
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MWC Tex Offline
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Post: #48
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-19-2017 07:18 AM)CougarRed Wrote:  
(05-18-2017 02:48 PM)The Cutter of Bish Wrote:  But, when you Colo St going full bore into a football stadium the state is just letting them blow money on . . .

I could not believe that financing plan got approved. Colo St raised so little money and floated so many revenue bonds that the stadium will require $13M in annual debt service for the next 30 years.

Consider: 1) the entire Colo St athletic department generates about $18M a year in revenue outside of school subsidies and student fees, 2) the new stadium only seats 36,000, and 3) they have reserved 10,000 of those seats for students. So even if the other 26,000 seats were sold (which they won't) and generated an average of $500 a year (which they won't), that entire $13M would go straight to paying the interest on the debt. Do not pass go. Do not fund football or any other sport's operating expenses.

However, Hughes Stadium was old and borderline condemnable. If the school wanted to continue playing football, they needed a new stadium (or considerable renovations to Hughes) even though their boosters fell way short of their fundraising goal.

So the school's debt rating, or the school's endowment, or the taxpayers, or the students . . . will eventually take it in the shorts.
It's a big difference when you are a land grant school vs one of the many city schools. A large number of political reps went to CSU.
05-19-2017 08:18 AM
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Native Georgian Offline
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Post: #49
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-19-2017 08:15 AM)MWC Tex Wrote:  Sounds like SDSU is out of luck and really Soccer City is their only chance for a stadium to play in. The city isn't going to gift SDSU valuable land.
RIP Aztec football...2019.
You really think the football program will simply be disbanded?
05-19-2017 09:31 AM
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MWC Tex Offline
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Post: #50
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-19-2017 09:31 AM)Native Georgian Wrote:  
(05-19-2017 08:15 AM)MWC Tex Wrote:  Sounds like SDSU is out of luck and really Soccer City is their only chance for a stadium to play in. The city isn't going to gift SDSU valuable land.
RIP Aztec football...2019.
You really think the football program will simply be disbanded?

If they have nowhere else to play what can they do? Petco field is only offering a 1 year temporary deal. Where else would they play if the Q or the Soccer City Stadium doesn't exist?
05-19-2017 09:36 AM
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Tom in Lazybrook Offline
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Post: #51
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-16-2017 05:36 PM)MWC Tex Wrote:  They are playing with fire. They are in no position to get everything they want.

San Diego is no mood to pay for infrastructure for billionaire professional sports owners right now. And IIRC, it requires a two-thirds vote from the voters in the CITY to approve such a partnership. It wasn't going to happen anyway.

SDSU will get the property because they're the only real use for it. The city probably could use a stadium of some sort.

SDSU is a very popular institution in San Diego. Sucker City? Not so much.
(This post was last modified: 05-19-2017 10:00 AM by Tom in Lazybrook.)
05-19-2017 09:59 AM
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panama Offline
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Post: #52
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-19-2017 09:36 AM)MWC Tex Wrote:  
(05-19-2017 09:31 AM)Native Georgian Wrote:  
(05-19-2017 08:15 AM)MWC Tex Wrote:  Sounds like SDSU is out of luck and really Soccer City is their only chance for a stadium to play in. The city isn't going to gift SDSU valuable land.
RIP Aztec football...2019.
You really think the football program will simply be disbanded?

If they have nowhere else to play what can they do? Petco field is only offering a 1 year temporary deal. Where else would they play if the Q or the Soccer City Stadium doesn't exist?
I always love posts likke this like it's insurmountable in a city the size of San Diego. There is a plan b, c and even d that they have not disclosed and hope to not have to use. But there is always a plan.

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05-19-2017 10:52 AM
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Post: #53
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-18-2017 09:45 PM)Stugray2 Wrote:  
(05-18-2017 05:28 PM)Native Georgian Wrote:  So, is this still happening?
(01-12-2017 12:13 PM)SDSU-Alum2003 Wrote:  This is the future for San Diego State University...

[Image: 837]

In a word NO

This never had a chance. First it would have required the California State University release the entire campus improvement budget for the next, oh, maybe two decades for the entire 23 campus system. Just, you know, kind of, maybe, this might have a tiny little problem of getting regents approval (can't see 22 schools agreeing to shelve facilities plans for a decade). The money has to come from somewhere else. The other little problem was getting the city of San Diego to simply hand over > $1B in property; that also might have a problem (understatement).

The above was never more than a pipe dream, so the school was working on plan B, get a corner of the city land at the Q, by partnering with the SoccerCity development folks, known as FS Investors. But this is SoccerCity is a scam and is headed to the dumpster soon as well - the people of San Diego were getting wise to it. SDSU was wise to drop out.

So here we are at plan C. ... (similar to Oakland's plan C for the new Raider stadium).

New President Sally Roush made the tough call. But it's right. What she is asking is for the city to set aside 25% of the site for a Stadium so they can begin work and hopefully have a home in 2020. She may get nothing, but it's the correct approach. RFP should be the approach. I think it will take months to happen. RFP means the SDSU dream is pretty much off the table, and Soccer City dead.

The new trend is for universities needing student housing to do a ground lease to a developer to build student housing. The university in most cases will collect the rent on the student bill, deduct a percentage from the collections as a rent payment, and a very small percentage for processing and handling and send the rest to the developer. In other cases, the developer has to rent the rooms and collect the rent and sends a fixed payment and percentage to the school.

The student housing element of redeveloping isn't a big challenge.
05-19-2017 11:11 AM
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panama Offline
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Post: #54
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-19-2017 11:11 AM)arkstfan Wrote:  
(05-18-2017 09:45 PM)Stugray2 Wrote:  
(05-18-2017 05:28 PM)Native Georgian Wrote:  So, is this still happening?
(01-12-2017 12:13 PM)SDSU-Alum2003 Wrote:  This is the future for San Diego State University...

[Image: 837]

In a word NO

This never had a chance. First it would have required the California State University release the entire campus improvement budget for the next, oh, maybe two decades for the entire 23 campus system. Just, you know, kind of, maybe, this might have a tiny little problem of getting regents approval (can't see 22 schools agreeing to shelve facilities plans for a decade). The money has to come from somewhere else. The other little problem was getting the city of San Diego to simply hand over > $1B in property; that also might have a problem (understatement).

The above was never more than a pipe dream, so the school was working on plan B, get a corner of the city land at the Q, by partnering with the SoccerCity development folks, known as FS Investors. But this is SoccerCity is a scam and is headed to the dumpster soon as well - the people of San Diego were getting wise to it. SDSU was wise to drop out.

So here we are at plan C. ... (similar to Oakland's plan C for the new Raider stadium).

New President Sally Roush made the tough call. But it's right. What she is asking is for the city to set aside 25% of the site for a Stadium so they can begin work and hopefully have a home in 2020. She may get nothing, but it's the correct approach. RFP should be the approach. I think it will take months to happen. RFP means the SDSU dream is pretty much off the table, and Soccer City dead.

The new trend is for universities needing student housing to do a ground lease to a developer to build student housing. The university in most cases will collect the rent on the student bill, deduct a percentage from the collections as a rent payment, and a very small percentage for processing and handling and send the rest to the developer. In other cases, the developer has to rent the rooms and collect the rent and sends a fixed payment and percentage to the school.

The student housing element of redeveloping isn't a big challenge.
There are 1400 private beds being added on campus with some variation of what you described.

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05-19-2017 11:14 AM
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The Cutter of Bish Offline
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Post: #55
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
If your school wasn't much on old sprawling halls but more for towers, you're going the route of townhouses and condos and other suite options. The towers are just not as well looked upon as they used to be; some even unsafe now due to changing laws, provisions, safety codes. It isn't cheap to redevelop; more people is back to more space, unless you're going to build apartment towers and not dorm towers; still costs more.

Hehe, of course, those old Ivy dorm buildings got it right hundreds of years ago.
05-19-2017 12:55 PM
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panama Offline
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Post: #56
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
The private towers being built now are basically luxury apartments in a high rise with all the amenities.

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05-19-2017 01:07 PM
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Post: #57
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-18-2017 08:31 PM)panama Wrote:  Don't think everyone is on the same page.

In our case as soon as the Braves announced they were moving, President Becker was receiving a call from the city within hours. Everyone started with the preconceived notion that this deal was going to get done. After that everyone jumped on board except a few neighborhood protesters. If the city of San Diego is not pushing SDSU fully and bending over backwards to make sure this deal gets done then it will not get done.

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The difference is that in Georgia, the people in power may disagree but they're more or less on the same team.

In California, there's a dozen different power groups that have VERY different goals and rarely talk to each other. They're not on the same team; they're not even playing the same sport.
05-19-2017 02:38 PM
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Captain Bearcat Offline
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Post: #58
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-19-2017 11:11 AM)arkstfan Wrote:  
(05-18-2017 09:45 PM)Stugray2 Wrote:  
(05-18-2017 05:28 PM)Native Georgian Wrote:  So, is this still happening?
(01-12-2017 12:13 PM)SDSU-Alum2003 Wrote:  This is the future for San Diego State University...

[Image: 837]

In a word NO

This never had a chance. First it would have required the California State University release the entire campus improvement budget for the next, oh, maybe two decades for the entire 23 campus system. Just, you know, kind of, maybe, this might have a tiny little problem of getting regents approval (can't see 22 schools agreeing to shelve facilities plans for a decade). The money has to come from somewhere else. The other little problem was getting the city of San Diego to simply hand over > $1B in property; that also might have a problem (understatement).

The above was never more than a pipe dream, so the school was working on plan B, get a corner of the city land at the Q, by partnering with the SoccerCity development folks, known as FS Investors. But this is SoccerCity is a scam and is headed to the dumpster soon as well - the people of San Diego were getting wise to it. SDSU was wise to drop out.

So here we are at plan C. ... (similar to Oakland's plan C for the new Raider stadium).

New President Sally Roush made the tough call. But it's right. What she is asking is for the city to set aside 25% of the site for a Stadium so they can begin work and hopefully have a home in 2020. She may get nothing, but it's the correct approach. RFP should be the approach. I think it will take months to happen. RFP means the SDSU dream is pretty much off the table, and Soccer City dead.

The new trend is for universities needing student housing to do a ground lease to a developer to build student housing. The university in most cases will collect the rent on the student bill, deduct a percentage from the collections as a rent payment, and a very small percentage for processing and handling and send the rest to the developer. In other cases, the developer has to rent the rooms and collect the rent and sends a fixed payment and percentage to the school.

The student housing element of redeveloping isn't a big challenge.

I agree, this was a legit proposal. It was being pushed by John Moores, a billionaire who used to own the Padres. He's a donor to SDSU and UCSD and a former regent of the University of California system.

My guess is that Moores would have supported the SDSU West concept financially and would have encouraged other donors to do the same.
05-19-2017 02:48 PM
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MWC Tex Offline
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Post: #59
RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
http://newscenter.sdsu.edu/sdsu_newscent...?sid=76770

Uh oh! The Mayor endorses the FS initiative. SDSU is about to get burned without a stadium here in a couple or few years.

I guess SDSU doesn't have a much of a pull in San Diego as they think. The San Diego city leaders like to focus on pro teams I guess.
(This post was last modified: 05-19-2017 06:54 PM by MWC Tex.)
05-19-2017 06:52 PM
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panama Offline
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RE: SDSU says it's cutting off talks with FS Investors about Qualcomm Stadium site
(05-19-2017 06:52 PM)MWC Tex Wrote:  http://newscenter.sdsu.edu/sdsu_newscent...?sid=76770

Uh oh! The Mayor endorses the FS initiative. SDSU is about to get burned without a stadium here in a couple or few years.

I guess SDSU doesn't have a much of a pull in San Diego as they think. The San Diego city leaders like to focus on pro teams I guess.
Umm...they just lost an NFL franchise..so...


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