Progress Report: Costa Verde property on Genesee at Nobel in University City

Costa Verde Fact Sheet - Pages 4 & 5
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At the March 2022 UCPG and UCCA community meetings, the UCPG planning group chair announced that Alexandria Real Estate (the property owner and developer) intends to build out the property within the scope of the existing permits with a hotel, life-science office space, and retail. All existing tenants were expected to vacate the property by March 15. There is no decision yet on the retail mix of stores; that is yet to be determined. There will be some kind of grocery market but it will not be a large chain. It’s expected to be a smaller grocery neighborhood market that caters to pedestrians rather than to automobiles. The small area with McDonald’s and the gas station will remain as is.


Background: As announced in January 2022, Regency Centers sold its Costa Verde property to Alexandria Real Estate. Details at SDUT at  https://www.sandiegouniontribune.com/business/growth-development/story/2022-01-14/life-science-developer-buys-costa-verde-strip-mall-near-utc

History: As reported by UCCA, refer to these references from May 2020: The Costa Verde Revitalization Project proposal includes 400,000 square feet of office space in 3 R&D buildings, a 200 room hotel, as well as 178,000 square feet of retail space with parking and pedestrian areas. The project site is located on Genesee Avenue at Nobel Drive, on the northwest corner. The proposal is a partnership between two developers – Regency Centers (shopping centers) and Alexandria (research and development office space). More details are available in the Fact Sheet and Project Overview from May 2020:  

For other references, see https://www.universitycitynews.org/?s=costa+verde

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