Tuesday, June 11th

Announcements:

June 17th, 5:00 pm, Board Meeting at the SDYC, 6:00 pm Steak Fry at the SDYC

June 25th, 7:00 am, Breakfast Meeting at the SDYC, Speaker is Neil Senturia, columnist for the UT Business section

July 15th, Noon – 5:00 pm, Annual Golf Tournament, River Walk Golf Club; 6:00 pm Awards program and Steak Fry at SDYC.  Get your foursomes together!

Program:

So you spent 12 years of your business career focused on “the Largest Private Waterfront Development on the West Coast” (according to Market Insider, October 30, 2018), and all you got to show for it is a great big hole in the ground?  So what gives???

Perry Dealy and the Manchester Pacific Gateway project.

Well, for that answer we went to the man himself, Perry Dealy!  Perry is President and CEO of Dealy Development.  He is a Marine/Vietnam veteran who holds a masters degree in Architecture with Urban Planning/Design Emphasis from North Carolina State University / UNC Chapel Hill.  He also has 44 years of real estate experience and is the Development Manager for the Manchester Pacific Gateway project.  “For 11 years, this project suffered through one lawsuit after another.  We had to go all the way to the U.S. Supreme Court, before we were able to put the legal challenges behind us.  Now, it is on to construction!” he told us.

Construction will include, seven new buildings on eight city blocks.  The first building is the 372,00 sf U.S. Navy San Diego Headquarters.  This building is currently at its eighth floor of steel framing and is scheduled to be completed by October 2020.  When completed, the Navy will relocate from their current building (circa 1920) at the northwest corner of the property.  After moving into their new space, the old building will come down, to make way for a new 1.9 acre park.  Remaining buildings include 888,000 sf of class A office space; 1,400 rooms of hotel(s); 275,000 sf of retail, restaurants, entertainment and cultural space; 3,000 subterranean parking; and, 3.6 acres of plazas, paseo and open space.

“I would love to tell you we will immediately be constructing the rest of the property, but that schedule will depend on financing partners and tenants,” Perry said.  “We will be working on the site development for the $1.6 billion project, including demolition work, underground parking, street frontage, the Navy office building, utilities and utility relocations, in the interim.”

Developer Perry Dealy and Pres. Steve Doyle

One of the unique aspects to the property is the ownership and approvals.  The Federal Government owns the property.  They offered to lease the property to private parties, in return for the development of their new headquarters office building.  Doug Manchester was selected by the Navy and began the process to develop the site in 2005.  Soon after the lawsuits started.  Challenges were made to the approvals by the City of San Diego, the Coastal Commission and the Federal government.  All of which failed, but cost the project extensively in time and money.

For a glimpse of the future Manchester Pacific Gateway project CLICK HERE.

Perry Dealy has hands-on experience in all aspects of real estate development.  He is a licensed architect, general contractor, and fiduciary representative.  He brings a broad set of skills that have been crucial to his success in strategic planning, acquisitions and development.  We look forward to seeing more “steel in the air” as the Manchester Pacific Gateway continues to come out of the “big hole in the ground”.  Thanks for sharing with us this morning, Perry!

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