The city will make the payment despite the developer's failureto obtain construction financing and leases for at least 50% of thefirst of three proposed buildings at the northwest corner of ThirdAvenue and H Street.

Gateway Chula Vista is a planned 347,000-sf office and retaildevelopment that is projected to revitalize the city's Third Avenuecorridor and attract high-end business. The $80 million project isthe city's largest redevelopment effort since Third Avenue's ParkPlaza in 1984.

A groundbreaking was held in April, and the first phase isscheduled to be finished in December. The next phase will begin sixmonths later and, if all goes as planned, the complex of 62,000 sfof retail and about 285,000 sf of office space could be completedby 2005.

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