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San Diego saluted in wake of BRAC vote city remains as a key military hub.

Publication: San Diego Business Journal
Publication Date: 29-AUG-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: San Diego saluted in wake of BRAC vote city remains as a key military hub.(Base Realignment and Closure)(Brief Article)

Article Excerpt
With the Base Realignment and Closure Commission's decision to keep the Navy Broadway Complex off the chopping block for now, local leaders are celebrating the fact that the defense industry is still calling San Diego home.

"San Diegans can feel good about the outcome of this year's (BRAC) hearings (because we) saw no major military installation closures here," said acting San Diego Mayor Toni Atkins, who also called the news "a great victory" for the region.

The nine-member BRAC panel, which is chaired by Rancho Santa Fe resident Anthonsy Principi, left the sprawling 16-acre Downtown complex off its recommended closure list on Aug. 24, the same day it also decided dozens of other bases across the country should be vacated or consolidated.

In lieu of closure, the local waterfront property, which has been estimated to be worth anywhere from $200 million to $500 million, will be offered to a developer on a long-term lease basis for a mixed-use...

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