2 Realty Firms to Build Hotel

Two national real estate firms have announced plans to develop a $350-million mixed-use development on a 57-acre site in San Diego’s Golden Triangle.

The developers are Melvin Simon & Associates, with headquarters in Indianapolis and West Coast offices in Los Angeles, and the Dallas-based Pacific Realty Corp.

The development, to be known as Costa Verde, will be bounded by Genesee Avenue, La Jolla Village Drive, Regents Road and Nobel Drive. It will consist of a 400-room hotel, 2,600 residential units and a $178,000-square-foot community retail center.

Grading on Costa Verde has begun and completion of the project is targeted for the spring of 1989.