Millenia Project Promises Revenue and Jobs

A massive project in the South Bay could mean thousands of homes, thousands of jobs and millions of revenue dollars for the city of Chula Vista.

The Millenia development is expected to accomplish many tasks over the next two decades. Millenia is a $4 billion mixed-use, high-density development planned for the Otay Ranch area of Chula Vista. The project has already been approved by Chula Vista and the San Diego Association of Governments. Now, the developer, the Corky McMillin Company, is only waiting for the economy to rebound. Corky McMillin Vice President Todd Galarneau told 10News it is always smart to plan when the economy is down and build when it's on its way back up." We have all of our entitlements. We'll be able to hit the ground running as the market recovers," Galarneau said.

Chula Vista has been hit especially hard by the economy. In 2005, at the height of the city's construction boom, Chula Vista issued more than 3,000 building permits. In 2009, they issued less than 300. Chula Vista City Manager Jim Sandoval said Millenia could be the beginning of the rebound. When completed, Millenia is expected to generate more than $4 million in revenue for the city, which is much-needed money for the South Bay city that has cut more than $50 million from its budget in the past three years and cut more than 20 percent of its staff." Four million dollars means a lot of services that we could provide that we cannot provide otherwise to our community," Sandoval said.Millenia, which is being built in the city's planned Eastern Urban Center, would encompass more than 200 acres south of the Otay Ranch Town Center. It's expected to have 3,000 residential units, more than 3 million square feet of retail space, a library, fire station and a hotel." If you were to overlay the boundaries of the Eastern Urban Center over downtown San Diego, it would be 80 downtown city blocks," said Galarneau.

For more information and a complete overview map of the project, go to Millenia's official website at: www.milleniasd.com