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 Established in 2002, the Sycuan Tribal Development Corporation (STDC) serves as the business development arm of the Sycuan Band of the Kumeyaay Nation with the primary objective of expanding and diversifying the economic base and financial interests of the tribe while ensuring the well-being of both tribal members and the broader San Diego Community.Since its inception, STDC has been working toward a broad strategy of investing in the long-term stability of the Sycuan tribe and tribal entities. The economic diversification began with the acquisition of Singing Hills Country Club and Resort in May of 2001. The Singing Hills purchase was only the beginning.  According to Daniel Tucker, STDC Board Chairman, "We want to be able to put our dollars into mainstream investments like real estate, financial services and the hospitality industry." Along those lines, STDC has partnered on development projects in National City and downtown San Diego, purchased the historic THE US GRANT , become a mutual fund manager and a championship boxing promoter.In August, 2003, STDC became partners with MRW Group and Latino Builders to form the Marina Gateway Company. The partnership will develop a 170-room hotel, restaurant and market to revitalize the National City waterfront. The $25 million project will begin National City's bay front transformation from industrial to recreational and retail.  As part of the broader ballpark district in downtown San Diego, STDC has teamed with JMI Realty and Kimpton Hotels & Restaurants to build the 235-room Hotel Solamar. The boutique hotel is located at Sixth Avenue and J Streets, across the street from Petco Park and has become one of downtown San Diego's favorite hot spots.In December of 2003 STDC completed the purchase of THE US GRANT in downtown San Diego. The son of former United States President, Ulysses S. Grant, built the hotel as tribute to his father in 1910. Over $52 million in renovations are planned and upon completion, the U.S. Grant will be recognized as a Starwood Luxury Collection Hotel. STDC created Sycuan Capital Management to become a mutual fund manager. By launching the "Sycuan U.S. Value Fund," Sycuan became one of the first tribal nations to enter the financial services industry and is the first-ever tribal-owned investment adviser. The U.S. Value Fund is just the first in a series Sycuan Capital Management plans to issue.  Completing the Tribe's recent investment diversification, STDC launched Sycuan Ringside Promotions to manage and promote boxers and boxing events. Sycuan Ringside Promotions already has enjoyed unprecedented success for a boxing promotion company in only its second year. Its stable of boxers include welterweight world champion Carlos Baldomir; World Boxing Council and International Boxing Federation 122-pound champion Israel Vazquez; former IBF lightweight champion Julio Diaz; undefeated former World Boxing Organization junior featherweight champion and current WBO No. 1 featherweight Joan Guzman; undefeated teenage sensation, lightweight Jorge Paez Jr., and number two ranked bantamweight, Mauricio Martinez.Sycuan Band of the Kumeyaay Nation Chairman, Daniel Tucker summarized, "Our casino operation will always be a significant part of Sycuan's economic landscape and STDC is an example of the diversification of our business enterprises beyond gaming. In addition, it demonstrates once again our long-term commitment to the San Diego region through job creation, business retention and tax generation." As an example for other tribes, Tucker added, "Tribal governments everywhere will be able to determine their own future and enjoy self-reliance by diversifying their economic base, making gaming part, rather than all, of the tribal revenue generation." |
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