SBD/Issue 177/Facilities & Venues

S.F. Port Commission OKs MLB Giants' Mission Rock District Plans

Giants, Partners Have Six Years To Get Approvals
Needed To Begin Work On Rock District Plans

The MLB Giants' plan to "build a new Mission Rock District -- and possibly a new home for the Golden State Warriors -- next to AT&T Park got enthusiastic support Tuesday" from S.F.'s Port Commission, "even though any construction is probably years away," according to John Wildermuth of the S.F. CHRONICLE. Under terms of the agreement, which was approved unanimously, the Giants and their development partners "have up to six years to get the approvals needed before the first bulldozer can begin work on the 16-acre bayfront tract now leased from the port" as the AT&T's parking lot. The nation's "economic slump is behind the slow-moving nature of the project, which originally was scheduled to break ground by 2013." Since the Port Commission agreed last May to "award the development rights to the team led by the Giants, two of that group's six partners -- Kenwood Investments and Stockbridge Capital -- have pulled out." The Warriors, who are up for sale, are the "wild card in the development deck." Because the Giants are "said to be one of the bidders for the Warriors, a multipurpose arena could be part of the final development plan." Giants Senior VP & General Counsel Jack Bair "tiptoed past any arena questions." He said, "If the opportunity presents itself, we will explore it. ... We'd like to see development that is synergetic to the ballpark and that fits in with the neighborhood" (S.F. CHRONICLE, 5/26).

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