I seem to recall that as recently as Xmas 2010, that Mission Valley tends to flood to the NORTH of the river. Isn’t this development on the same side as Fashion Valley Mall?

http://activerain.com/blogsview/2039347/picture-of-the-moment-the-christmas-2010-mission-valley-flood

http://latimesblogs.latimes.com/lanow/2010/12/flood-waters-as-high-as-five-feet-in-mission-valley-neighborhood.html

http://www.signonsandiego.com/news/2010/may/02/flood-plan-raises-issues/

From this I am forced to conclude that optimism encourages short-term memory loss.