Hailed as one of San Francisco’s largest economic development projects, a sweeping mix of offices, homes, retail and open space will replace the main parking lot for AT&T Park, Giants CEO Larry Baer announced Wednesday.
Baer said the project — dubbed Mission Rock — will create a gateway into the Giants’ facility and is designed to connect the Mission Bay waterfront with the surrounding neighborhood, which he said has been a focus of the team since moving to the ballpark in 2000.
Work on the project — initially estimated at $1.6 billion — will begin in 2015, and a portion of it could be open by 2016, Baer said. The rest, he said, could be rolled out over time.
“I think it’s a big deal,” Baer said after a press event that included Mayor Ed Lee and other city leaders. “There’s really not much left in San Francisco to develop.”
Lee said San Francisco values the Giants not just as a competitive baseball team, but also as a business partner.
“We’re all going to work as a team,” Lee said, adding that the project also will provide an economic boost of 4,800 temporary construction jobs and 6,900 permanent jobs when the site is built out.
Asked how this waterfront development deal will avoid the pitfalls that helped doom a now-defunct project that was to complement the upcoming America’s Cup yacht race, Lee suggested that lessons have been learned about how to best coordinate details involving a private investor and several city agencies.
“That was a reflection of not having that dialogue early enough,” Lee said of the failed America’s Cup deal. He said that project’s unraveling was “the right move for everybody to go back to the basics.”
The AT&T Park expansion will include input from The City’s Planning Department, the Port of San Francisco, the Mayor’s Office of Economic and Workforce Development, and likely others.
The Warriors also have been in discussion with the Giants about a possible move from Oakland into a new arena at the same site. Baer said the project could possibly accommodate such a basketball venue, but doesn’t depend on one.
“If the Warriors want to come over here, that will be accommodated,” Baer said. “But we have to be careful. The Warriors are also talking about Oakland.”
Lee, who also has been in talks with the Warriors, said the team simply isn’t prepared to reveal any plans.
“I think the Warriors are separate,” Lee said. “We’re going to keep tabs on that until we’re ready.”
At an economic forum event earlier this year, the mayor said any new Warriors arena would need to be privately financed, as was the case with AT&T Park. The sentiment was no surprise, given the cold reception San Francisco voters tend to have on publicly financed sports facilities.
27 Acreage of Mission Rock
3.5 million Square feet
8 Acres of open space
1.3 to 1.7 million Square feet of office space (5 to 7 buildings)
650-1,000 Living units (3 to 5 buildings)
125,000 Square feet of retail
2,690 Parking spaces (2,000 in a new parking garage for games)
4,800 Projected construction jobs
2,000 New residents
$13 million Annual tax revenue for S.F.