![\"News](\"https:\/\/missionvalleynews.com\/wp-content\/uploads\/2017\/11\/Plaza-2020-copy.jpg\")
<\/a>Plaza 2020, a 105,796-square-foot office building, is now under the ownership of Vista Investment Group.<\/p>\nThe Mission Valley tower is located on a 3.16-acre site at Camino del Rio North. It was built is 1970, with renovations done in 2000. Additional improvements are planned for the building.<\/p>\n
Currently, America Preferred Lending and the recently opened University of Redlands call the building home.<\/p>\n
\u201cMission Valley should see strong office demand in the coming years as a surge of residential and retail development is delivered into the sub-market,\u201d Vista president Jonathan Barach said.<\/p>\n
\u201cPlaza 2020 fits well within Vista\u2019s strategy of owning well-located middle market assets, below replacement cost, with strong upside potential.\u201d<\/p>\n
LEGACY CENTER PROJECT COMING TO HOTEL CIRCLE<\/h3>\n
Morris Cerullo\u2019s proposed $160 million Legacy International Center was approved by the San Diego City Council in a 7-2 vote on Oct. 16.<\/p>\n
Cerullo, an 85-year-old televangelist, bought the Mission Valley Resort six years ago with plans to develop the land into a religious-themed resort and conference center.<\/p>\n
Many residents have voiced concern over the proposal, including members of the local LGBT community. Others, including local religious figures, have expressed support of the project.<\/p>\n
Despite the ongoing debate over the religious nature of the Legacy Center, the City Council was advised to only consider the traffic impact the project may have on Mission Valley when casting their votes. The warnings from the City Attorney\u2019s office were sent in a letter prior to the vote, and made multiple times during the hearing.<\/p>\n
\u201cWe are not allowed to address what we like or do not like on this site,\u201d Councilwoman Barbara Bry said. \u201cI know it will upset many people close to me in the past, but my job is to look at what we are allowed to decide on.\u201d<\/p>\n
To address traffic concerns, the developers agreed to adding two lanes on Hotel Circle South, orchestrating recurrent traffic counts and not scheduling large events at times that coincide with peak commute hours.<\/p>\n
With the City Council approval, the Legacy Center will now move forward with development. A few of the projected amenities will include a corporate meeting space, 127-room hotel and a religious museum space. Some community members see parallels of the site\u2019s plan with an amusement park; several of the designers have previously worked with Disney.<\/p>\n
The project, which is a downsized version of the original proposal, is projected to open its doors in 2019.<\/p>\n