Mission Rock, Seawall Lot 227 and Pier 48 (Planning, Design or Conception) – San Francisco – 94158
Today: Seawall Lot 337 – Tomorrow: Mission Rock
Completion Date: To Be Determined
Seawall Lot 337 (SWL 337) is a 16-acre site at the Port of San Francisco, located near China Basin Channel in the Mission Bay area. Currently used as a surface parking lot in support of AT&T Park, the site also includes the adjacent Pier 48 warehouse. In May 2010, the San Francisco Port Commission approved an Exclusive Negotiation Agreement for this development opportunity to Seawall Lot 337 Associates. The phased development plan includes space for retail, office, residential, events, exhibits, and parking, with more than seven acres of public open space, offering sweeping views of San Francisco Bay.
Taking a cue from their ball club, the SF Giants’ real estate team is seeing a hard winter’s work pay off with the renewed momentum of the Mission Rock megaproject that it’s developing on Port-owned land in the ballpark’s backyard. Now that the Port has endorsed their latest project updates and Term Sheet, the Giants are waiting on Board approval to move into EIR for the 3.6 million square foot, $1.6 billion mixed use development, which encompasses Pier 48 and Seawall Lot 337. We’ve been tracking this project for, oh, 6 years now, but couldn’t help getting excited all over again when the team landed the ultimate Anchor tenant for Pier 48, designed to appeal to the kind of hardcore locavore only this town can mass produce (yes, that’s Anchor Steam Brewing Company). Taking a breath before the two year entitlements process, which kicks off in May, the Giants’ Director of Real Estate, Fran Weld, took some time to talk shop with a group of well-heeled building industry folks from the BICB at SPUR this week, while we listened in.
Questioned about the possibility of ending up with a “bunch of expensive wine bars,” Weld explained that the Giants will be “curating the ground floor environments” of both the retail storefronts and 8 acres of open space to appeal “to Giants fans as well as the larger community.” And perhaps the tenants upstairs? In this case “curating” seems to mean leasing the ground floor space not to the highest bidder, but to whoever attracts the occupants in the homes and offices above that will pay the highest rents. So, does that mean there won’t be any wine bars?
The team will definitely, however, be making the push on the horizontal work, which will kick off in 2015 and includes $200 million worth of infrastructure improvements (funded by public Tax Increment Financing) and an expanded China Basin Park, which will quintuple in size. There will be more parks but no less parking, Weld assures fans. The project will replace the parking spaces of massive Lot A, 1 for 1 with a big-ass parking structure at the southern end of the development. With a drawn out 4 phase, 10 year build-out projected to wrap in 2025, it’s uncertain whether the overall vision for the District will manifest as designed. But as long as the Anchor Steam is flowing by 2016, as planned, we’ll be happy enough. – Laura Tepper
The Giants-owned Mission Rock development project has signed its first tenant: Anchor Brewing is planning to open a production facility at what is now Pier 48. The new 212,000 sq. ft. facility will serve as a production and distribution center, but will also house a restaurant and museum focused on the brewery’s 117 year history in San Francisco. Anchor’s existing plant in Potrero Hill will remain, but the company will now be able to crank out quadruple the amount of beer. According to the Chronicle, Anchor is the city’s largest manufacturer, and construction of the new facility will add 200 jobs.