Port district commissioners in San Diego approved a lease for a planned 400-room InterContinental Hotel, which will be developed on the southern portion of the former Lane Field ballpark site.
The Unified Port of San Diego's executive board approved the 66-year lease of the development in a 5-1 vote. The projects is being developed by LPP Lane Field, which is also developing a dual-branded Marriott hotel on the northern half of the site. The InterContinental development will cost approximately $200 million.
InterContinental Hotels (IHG) is in final negotiations with developers to manage and brand the hotel. The project is expected to begin construction in the first half of 2016.