The University of California San Diego has announced plans for a new cultural and education center in downtown San Diego, as part of a mixed-use project in East Village proposed by developer Holland Partner Group.

A university statement said UC San Diego Extension will manage the 66,000-square-foot center, being called an Innovative Cultural and Education Hub, at the corner of Park Boulevard and Market Street. The development cost has been estimated at $42 million.

Officials said the facility, set for completion in 2020, will connect a wide range of programs offered to the downtown innovation community and to “diverse neighborhoods throughout San Diego’s urban core.”

The center will house a 3,000-square-foot restaurant on the ground floor and an outdoor amphitheater space. It will be home to UC San Diego academic and outreach programs for middle and high school students from surrounding communities.

There will also be business incubation and entrepreneurship resources, courses and workshops geared to downtown’s growing workforce, and a venue for arts events and exhibits. No state funds will be used for construction, with funding to come from a combination of program underwriting, contracts and grants, fees for services and lease revenues.

UC San Diego Chancellor Pradeep K. Khosla said the new facility “will support economic development downtown while delivering new educational opportunities” for students and staff. Mary Walshok, UC San Diego’s associate vice chancellor for public programs and dean of its Extension division, said the hub will “redefine the role of a research university in the 21st Century,” while engaging the university with local communities.

“With the diverse neighborhoods surrounding the urban core, including Barrio Logan, the Diamond District and Golden Hill, this project reinforces UC San Diego’s role as a key partner in spurring economic prosperity and inclusion through engaging events and educational offerings,” Walshok said.

In the same statement, San Diego Mayor Kevin Faulconer called the planned university center “a game changer and the result of years of hard work to make it reality.” The mayor said the center will continue the revitalization of East Village and provide opportunities for collaboration “as we prepare students for the jobs of tomorrow.”

Vancouver, Washington-based Holland Partner Group is seeking final approval for a larger $275 million development known as Park & Market, which is on the San Diego City Council agenda for its Dec. 13 meeting. Park & Market includes 426 apartments, 14,600 square feet of retail, 50,000 square of offices and 5,200 square feet of open space.