California State University Board of Trustees | State of California Awards Facilities Contract to Avalon Bay Communities (November 2023)
California State University Board of Trustees | State of CaliforniaState · Long Beach, CA- Disclosed value
- $328,326,000 (total project cost including development and financing fee)
- From agenda
- Approved
- Nov 8, 2023
- Renews
- Free account
The 30-second brief
The California State University Board of Trustees approved a 99-year ground lease with Avalon Bay Communities to develop the Mission Valley Residential and Retail Project #1 at San Diego State University. The $328.3 million public-private partnership will deliver 621 market-rate apartments, 30,000 square feet of retail, and a 1,074-space parking structure, with ground rent structured as phased base payments plus a share of project revenues and future sale proceeds.
Avalon Bay Communities holds this facilities contract with California State University Board of Trustees | State of California. Its other public contracts on record include work for Borough of Roseland and Borough of Ramsey.
The renewal date is on record. A free account shows it, with the renewals for every California State University Board of Trustees | State of California contract.
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Contract details
- Contract type
- Facilities
- Amount
- $328,326,000 (total project cost including development and financing fee)
- Document date
- November 8, 2023
- Term
- 99-year ground lease; first 24 months $800,000/year, months 25-36 $1,200,000/year, thereafter $1,600,000/year escalating annually
- Renews
- Free account
- Vendor
- Avalon Bay Communities
- Source document
- California State University Joint Committee on Finance and Campus Planning Agenda Nov 2023 (Agenda)
Avalon Bay Communities's other public contracts
More California State University Board of Trustees | State of California contracts
Questions about this contract
Who was awarded the facilities contract by California State University Board of Trustees | State of California?
Avalon Bay Communities was awarded this facilities contract by California State University Board of Trustees | State of California, as recorded on November 8, 2023. The contract value is $328,326,000 (total project cost including development and financing fee).
How much is the Avalon Bay Communities contract with California State University Board of Trustees | State of California worth?
The Avalon Bay Communities contract with California State University Board of Trustees | State of California is valued at $328,326,000 (total project cost including development and financing fee), covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a agenda record.
Where was this contract approved?
This contract appears in California State University Joint Committee on Finance and Campus Planning Agenda Nov 2023 (Agenda), dated November 8, 2023 from California State University Board of Trustees | State of California. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Avalon Bay Communities hold?
Avalon Bay Communities may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is California State University Board of Trustees | State of California currently buying?
Explore California State University Board of Trustees | State of California's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.