Manchester, Navy Ok $1.2b Broadway; waterfront redo: after months of delay, two sides agree to sign 99-year lease.(Manchester Financial Group's Perry Dealy)

San Diego Business Journal,  December, 2006  by Broderick, Pat

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The Manchester Financial Group has entered into a landmark 99-year lease with the Navy for the $1.2 billion redevelopment of the Navy Broadway Complex in downtown San Diego. If the agreement had not been signed by Jan. 1, the federal government could have closed the complex, which is located on a prime 14.7-acre site at Broadway and North Harbor Drive.

Under the deal that was set to be announced Dec. 1, the Manchester group will assume development rights in a master plan previously negotiated between the Navy and San Diego. Manchester will give the Navy $160 million, to apply ...

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