It was a big day for a little parking lot. The San Francisco Giants announced yesterday their intention to turn Lot A -- where fans often pay up to $30 to park on game day -- along with historic Pier 48 into a 27-acre mixed use residential and commercial development. The land is currently owned by the Port of San Francisco, which has long wanted to rehabilitate the pier and bring more people to the waterfront.
San Francisco Mayor Ed Lee and several city supervisors were on hand to underline the city's support of the project.
"We just have to make sure that the teams here know that they've got the backing of the city to really perform this. And the investors need to know that we are an investor friendly town," said Lee, who was nearly giddy when he mentioned the more than 7,000 expected jobs the project could bring to the city.
The plan calls for both residential and commercial spaces and includes a waterfront park, restaurants and a parking garage. Larry Baer, president and CEO of the Giants, said the project would turn out more like a neighborhood than a development. "From day one of the development of this ballpark we've looked for ways to see that this neighborhood not just preserves its charm and its character, but can add to the economic viability of our city and our community," Baer said.
Waterfront projects like this one have run up against serious opposition and delays in the past --America's Cup, anyone? -- but Mayor Lee said this project has been in the works for a long time and that the various city departments responsible for approving parts of the project are working as a team.
"Seawall Lot 337 is a known entity," Lee said. "Mission Bay, we're building on success, we're not surprising anyone. This is a development site that the Port wished to have this happen. We're going to play ball."
The project is expected to break ground in 2015, with four stages of construction to be completed in 2021. One thousand new residential units, eight acres of open space, and between five and seven office buildings are planned.