San Diego Unified School District Agenda 2025-12-10
Decro Selected for Revere Center Workforce Housing
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Description
San Diego Unified plans to select Decro Corporation to negotiate a 99-year joint occupancy ground lease for 222 units of affordable workforce housing at the Revere Center site. The proposal would yield an estimated $134 million in ground rent and deliver a district childcare center at no district cost.
Contract Details
Contract Amount
Proposed annual ground rent $318,728 escalating 2.50% per year; estimated total ground rent revenue $134,000,000 over 99 years
Vendor
DECRO CORPORATION
Agency
San Diego Unified, CA
Contract Type
FACILITIES
Document Date
December 10, 2025
Contract Term
Proposed 99-year ground lease and joint occupancy agreement
Renewal Info
A long-term 99-year ground lease is contemplated; detailed renewal or extension options will be defined in a future term sheet and Joint Occupancy Agreement brought to the board after CEQA review.
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