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SF Giants pursuing $1.6 B development planned for AT&T parking lot, nearby dock

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POSTED April 4, 2012 8:10 p.m.

SAN FRANCISCO (AP) — The San Francisco Giants unveiled a $1.6 billion plan Wednesday to convert the parking lot at AT&T Park and an adjacent pier into homes, offices, shops and restaurants.

The "Mission Rock" project calls for up to 1,000 rental units, 125,000 square feet of retail space and as much as 1.7 million square feet of office space on the 27-acre site in the city's Mission Bay neighborhood. Over eight acres would remain open space.

Giants President and CEO Larry Baer told the San Francisco Chronicle editorial board (http://bit.ly/HVOvwU) that the project could be one of the biggest the city has ever seen and would boost the team's revenues.

The parking lot and pier are owned by the Port of San Francisco. Team officials and their partner, the Cordish Cos. of Baltimore, want to work out an agreement with the port by the end of the year and start construction in 2015 after two years of environmental review, the Chronicle reported.

"Mission Rock will be one of the largest urban mixed-use projects in America and will become an enormous economic boost for our city," San Francisco Mayor Ed Lee said in a statement.

In addition to construction jobs, the project is expected to support more than 7,000 permanent jobs when it is completed.

It currently does not include an arena that could potentially lure the Golden State Warriors from Oakland to San Francisco. But Baer told the Chronicle an arena could still be incorporated into the project.

"We're the next-door neighbors and are huge stakeholders in what happens here," Baer said. "We're not the typical developer who builds it, flips it and moves on. We're long-term."

 

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