The San Francisco Giants say their $1.6 billion mixed-use project planned for a parking lot adjacent to AT&T Park remains on track despite a required public vote.
The Mission Rock development, spearheaded by the Giants, is a 27-acre plan covering retail, residential units and office space. As it stands, the design of two residential towers, both standing more than 300 feet tall and framing an eight-acre park, would far exceed waterfront height restrictions.
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Renderings show the Mission Rock development planned near AT&T Park.
Photos by: SAN FRANCISCO GIANTS (4)
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There is no date set for a ballot measure, according to Staci Slaughter, the Giants’ senior vice president of communications and senior adviser to CEO Larry Baer.
It’s just another step in what has been a lengthy process since the Giants announced the project in April 2012.
In addition to the pending vote, the Giants must complete an environmental impact review
for the property over the next 18 months. They don’t have investment partners on board but some of those deals will come after the EIR is in hand, Baer said.
“We hope to get underway in construction within two years, in 2016,” he said recently.
It’s not easy building on the waterfront as the Golden State
Warriors discovered in their quest to move across the bay from Oakland. In April of this year, facing mounting opposition for its proposal to build a new arena in San Francisco on a site jutting into San Francisco Bay, the team moved its site two miles south to the Mission Bay neighborhood. The new site, separated from the water by
park space, sits about four blocks from AT&T Park. Together, those two sports venues would essentially bookend the Giants’ development, creating critical mass for both projects, Baer said.
Besides the arena, the Warriors have their own plan to develop property next to the proposed arena (SportsBusiness Journal, April 28-May 4).
The Giants see their mixed-use component as an opportunity to control AT&T Park’s boundaries for generations to come and generate new revenue to compete economically with teams in larger media markets, Baer said.
The team isn’t going anywhere. The Giants have a 66-year lease at AT&T Park and they have been aggressive in developing new amenities every year, including this year’s new Gotham Club, the facility’s first true stadium club.
Over the past 20 years, dating to when the Giants first made plans to privately build a stadium, they’ve seen the neighborhood to the north of the facility evolve from an RV park and dilapidated buildings into a bustling community filled with residential units.
The ballpark, which opened in 2000, and its surrounding neighborhood have become the center of the city, and the area is still growing as the technology market shifts north from Silicon Valley. The demand has never been higher for office space in San Francisco, much of it coming from tech firms recruiting new talent, Baer said.
“There’s such a desire to live in the city for young Web engineers and designers,” he said. “They don’t necessarily want to be in Silicon Valley where those companies are located. So they’re putting offices here.”
As part of the development, Anchor Steam Brewing Co. announced in February 2013 a plan to expand its operations to an existing building along Pier 48 next to the ballpark for beer production and distribution.
The brewery is a major sponsor dating to the team’s former home, Candlestick Park. The Giants brought Anchor Steam on board for the first phase of development after they found out Anchor Steam was looking for more space to keep its headquarters in San Francisco.
Anchor Steam is a local brand dating to 1896 and one of the city’s largest manufacturers. In addition to the brewery, the 212,000-square-foot facility will feature a restaurant and a museum, among other attractions.
The Giants are marketing the project’s retail space on their own, Slaughter said.
