The Port of San Diego has approved an Option to Lease Agreement that clears the way for a major renovation of the Coronado Ferry Landing, one of San Diego Bay’s best-known waterfront destinations.
Approved by the Port of San Diego Board of Port Commissioners, the agreement allows Port Coronado Associates, LLC (PCA) to pursue a new 35-year amended and restated lease, replacing the current 40-year lease that is set to expire on June 30, 2026.
If PCA satisfies a series of project requirements by June 30, 2027, the company will move forward with a two-phase renovation expected to begin in 2027.
Opened in 1987, the Coronado Ferry Landing has long served as a popular destination for boaters, ferry passengers and visitors. Located on a 13-acre bayfront site at 1201 First St. in Coronado, the property includes approximately 38,000 square feet of retail space, restaurants, two parking lots, a public ferry pier and a public boat dock overlooking San Diego Bay and the downtown skyline.
The planned improvements are designed to modernize the center while preserving its waterfront character.
According to the Port, the estimated $21.9 million project will include upgrades to plazas, landscaping and other common areas, modernization of building systems and parking facilities, and structural and utility improvements to the public ferry pier.
Port officials said the project will help ensure the long-term success of one of the region’s most recognizable waterfront destinations.
“This agreement is good for Coronado, for people who visit and enjoy the center, and for those whose livelihoods depend on its success,” said Port of San Diego Board Chair Ann Moore. “The agreement preserves a cherished destination, helps ensure its long-term vitality, and generates additional revenue to the Port that we can reinvest into public amenities and services on and around the bayfront.”
Commissioner Frank Urtasun, Coronado’s representative on the Board of Port Commissioners, said the renovation plan reflects what the city and local community have been seeking.
“Not only will the center remain open, but the renovation plan preserves its existing charm and delivers on long-needed improvements and modernization,” Urtasun said.
Before the new lease can be finalized, PCA must complete several preconditions, including securing project financing, obtaining necessary permits, submitting construction plans, beginning preliminary site work, and demonstrating tenant commitments for at least 25% of the property’s leasable space.
PCA Vice President of Development and Operations Christian Herrera said the company is committed to building on the Ferry Landing’s legacy while creating a welcoming destination for both residents and visitors.
If all conditions are met, construction is expected to begin in 2027 while preserving the Coronado Ferry Landing’s role as a hub for waterfront dining, shopping, boating and ferry service on San Diego Bay.
