The downtown San Diego site once destined to become a luxury five-star hotel could be transformed into a 405-unitunder a proposal favored by city officials for the publicly owned parcel.
Near the intersection of 7th and Market, the site was the location of the failed Ritz-Carlton hotel project. Now the city-owned land might be turned into a 100 percent rent-restricted apartment complex from affordable housing developer Chelsea Investment Corp. The site is highly coveted, two blocks from Petco park and in the vicinity of some of downtown’s most high-profile buildings: Sempra headquarters, the Pendry hotel, Hotel Indigo and luxury apartment complex Strata.Some readers of The San Diego Union-Tribune have argued the site is too valuable for subsidized housing.