The NBC Affiliate in San Diego is reporting that with a new land deal approved Tuesday, the world's largest comic book convention will likely remain in San Diego. Anaheim had been aggressively pursuing the Con.
The San Diego Board of Port Commissioners unanimously approved a multi-million-dollar land deal that will allow for a $753 million expansion of the San Diego Convention Center, the longtime home of Comic-Con.
Under the deal, the San Diego Convention Center Corp. will pay $1 million upfront to secure a six-acre bayfront site from Fifth Avenue Landing LLC. The SDCCC will then make $500,000 annual payments over the next five years, when the balance will be due.
"I applaud the port commissioners for approving this agreement and recognizing the importance of expanding our Convention Center," San Diego Mayor Jerry Sanders said. "While there is more work to be done before we can break ground, today's action is a critical step forward."
Officials argue the $753 million expansion is needed to attract and keep large conventions, like Comic-Con
The San Diego Convention Center currently has about 600,000 square feet of exhibit space, compared to Anaheim's 815,000 square feet. The proposed San Diego expansion would add another 200,000 square feet of exhibit space, KGTV reported.
That's certainly a step toward keeping Comic-Con organizers happy. Comic-Con spokesman David Glanzer told the San Diego Union-Tribune on Tuesday that it will decide on its next contract (2013-2015) within the next 30 days.