University City is Getting a Glow-Up!

The long-shuttered Costa Verde Center across from Westfield UTC is finally getting a new lease on life—and it's a big one. Instead of a quiet strip mall, the 13.9-acre site is on track to become a walkable neighborhood packed with housing, retail, and maybe even a boutique hotel.

A development group called Cass Street Venture LLC is behind the plan, and they recently got a unanimous thumbs-up from the University Community Planning Group. That’s a strong early sign of support as they work with the city to formally update what can be built on the property.

So what’s coming?

Think of a “main street” style layout with 13 separate blocks, each about an acre, filled with shops on the bottom and housing or offices above. Parking? Tucked into each building or kept minimal on the street. The site would be built out one block at a time, starting on the north end, with the first phase potentially opening around 2028.

They’re also leaning into public transportation and walkability. The area connects directly to the UC San Diego Blue Line trolley, and the plan includes a pedestrian-friendly promenade that links the platform with parks and homes just west of the property. Add in new trees, bike lanes, wide sidewalks, and small public plazas, and you’re looking at a major urban refresh.

Here's what’s not coming: labs or pharmaceutical companies. The new deed on the property bans any life science development for the next 99 years. So even though the previous owner—Alexandria Real Estate Equities—had life science plans, those are officially off the table. Alexandria is still involved financially, but this project is moving in a totally different direction.

If it goes as planned, this development will bring somewhere between 1,900 and 3,500 homes, plus shops, restaurants, offices, and that hotel—all designed to feel more like a neighborhood than a shopping center. And yes, traffic is being considered, with projections showing about 14,700 daily car trips—20% fewer than the original life science plan would’ve brought.

Bottom line: Costa Verde is getting a total transformation. It’s not just about new buildings—it’s about creating a new kind of community right in the heart of University City.