Manchester told the San Diego Union-Tribune that he expects to secure better financing for a $273-million expansion of his waterfront Hyatt Hotel in San Diego, which broke ground in March. Manchester is less optimistic about financing for a proposed $280-million hotel on the old Campbell Shipyards property in San Diego. He currently is embroiled in a legal dispute with San Diego Padres owner John Moores about who has the right to develop the project.
But Manchester said that he paid $3.2 million last week for a site in Oceanside where he plans to build the hotel, and that the project stands on its own, regardless of the outcome of the other two projects. A development partner, Watkins Development, will build 150 timeshare vacation units on the north end of the site.
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