San Diego formally offers for sale former Ritz-Carlton site to developers but will there be takers?

The East Village site where a LAZ parking lot is now located is being offered up to developers to purchase and redevelop as long as they include a high proportion of affordable housing. Three months after killing longstanding plans for a Ritz-Carlton, the city of San Diego is hoping to entice developers across the country to reimagine the former East Village hotel site, as long as they include a substantial percentage of affordable housing units. A formal notice was sent out Friday inviting housing developers and other interested parties to purchase and redevelop the high-profile block at 7th Avenue and Market Street. She estimates that the solicitation for 7th & Market went to more than 1,200 developers and other interested parties. Some experts have questioned whether the site will attract a high level of interest given the affordable housing requirement.