San Diego port district commissioners have approved granting an option to a development team working on a revised version of the long-planned Lane Field redevelopment in downtown San Diego, including two proposed hotels.

The port board voted Feb. 14 on the option requested by a development team that includes Lankford & Associates, Hardage Suites Hotels and C.W. Clark. Currently proposed is a 14-story structure that would include two hotels — a 250-room Homewood Suites and a 150-room Hilton Garden Inn — at a projected cost of $110 million.

The project has been delayed by problems tied to the economy, and also needed to be revised amid port district planning for improvements to the downtown waterfront area, including adjacent parks and open spaces.

The proposal originally called for a luxury 400-room Intercontinental Hotel. The project requires California Coastal Commission approval and is expected to be finished by 2014.

Developers have formed a corporation known as Lane Field San Diego Developers LLC. The site at 1220 Pacific Highway is a former location of a minor league baseball park.

— Lou Hirsh