METROPOLITAN AIRPARK LLC NAMES CHARLES BLACK TO LEAD $1BMIXED AVIATION-COMMERCIAL VENTURE AT BROWN FIELD

Bringing decades of real estate knowledge and proven leadership on public-private partnerships to San Diego’s newest center of international trade and commerce, Charles E. Black will lead the development team overseeing the construction and marketing of the $1 billion Metropolitan Airpark project at Brown Field in Otay Mesa.

Charles Black_01 A

The Metropolitan Airpark project, unanimously approved by the San Diego City Council in 2013, consists of nearly 3 million square feet of new construction on 331 acres, phased over 20 years. It is projected to generate more than 11,000 full-time, part-time and sole proprietorship employment positions; total economic impacts exceeding $1.3 billion; and indirect business taxes of $51.6 billion – all of which will be financed by the private sector.

Black brings more than three decades of major real estate project development experience to the team, having led some of the region’s largest and most complex real estate projects with an emphasis on transformative, public-private partnerships.

From 2002 through 2006, Black led the PETCO Park development team through the completion of PETCO Park and 4 million square feet of private development in the surrounding 26-block Ballpark District, widely recognized as one of the most successful redevelopment projects in the country. Black also served as the lead negotiator and project manager for the Port District’s 500-acre Chula Vista Bayfront Master Plan, and the proposed San Diego Civic Center Redevelopment and San Diego Convention Center Phase III Expansion for the City of San Diego.  He is also chairman of the board of trustees of Chambers Street Properties of Princeton, New Jersey, a New York Stock Exchange-listed company under the symbol CSG with more than $3 billion in industrial and office assets worldwide.

“I’m honored to join the Metropolitan Airpark development team and to participate in moving this exciting project forward,” said Black. “I firmly believe this project will become a major economic engine for the region and will be a model for public/private sector collaboration that creates regional employment and economic opportunities.”

Metropolitan Airpark will draw global firms, area professionals, entrepreneurs and the aviation community to this strategically positioned port of entry, readily accessible to the region and minutes away from downtown San Diego via I-805, SR 905 and SR 125.  The imminent opening of the SR11 border crossing and the Cross Border Xpress facility serving Tijuana International Airport will place Brown Field at the center of international trade and commerce in San Diego County.

Black will join Richard Sax, Robert Pippin and other members of the Metropolitan Airpark development team, and will report to Samuel Belzberg, chairman and chief executive officer of Gibralt US Inc., Metropolitan Airpark’s principal investor.

“We are pleased that Charles has joined our team and we are excited about moving this important project forward from entitlement to the construction and marketing phases,” said Belzberg.

1 Comment

  1. Another point to make is the source of their data is the IRS. That top 1%’ is top 1% of tax fignlis. That creates all sorts of data issues, including the fact that 49% of all Americans do not pay income tax, although it is not clear how many of that 49% have to file. A significant number do not. It also creates the difficulty of numbers some fignlis represent one person’s earnings. Some represent two. Some represent even more. It also can confuse business with personal income, a lot of the top tier are really businesses that chose to structure themselves as LLCs or S-corps rather than C-corps. Is there any real reason that some business income is excluded from this and some included? Makes a huge difference when talking about the top 1% tail. If someone owns 100% of a S-Corp, corporate earnings are included, if someone owns 100% of a C-corp corporate earnings are excluded, or limited to salary/dividends. While that matters to the IRS, it is irrelevant for ostensible purpose here of understanding distributions of income and wealth. I think the subject of understanding the wealth and income (two different things) distributions in America is an interesting and worthy topic but it has not been done. This pretends it has.

Leave a Reply

Your email address will not be published. Required fields are marked *

eight − 6 =