The San Francisco Giants has selected Tishman Speyer as joint venture partner to develop the waterfront Mission Rock mixed-use neighbourhood near AT&T which will feature parks and open space, affordable and market rate housing, retail, office and local manufacturing.
The 28-acre waterfront Mission Rock is a public-private partnership with the Port of San Francisco and the City and County of San Francisco.
As co-master developer and general partner, Tishman Speyer, along with the San Francisco Giants, will design, build, lease and programme the new San Francisco neighbourhood.
Tishman Speyer is a developer, owner, operator and asset manager of real estate around the world.
The San Francisco Giants was selected as the master developer in 2010.
Giants president and CEO Laurence Baer said: “Tishman Speyer’s outstanding track record here in San Francisco and around the world makes them an ideal partner to work with us to deliver this vision for our city.
“In particular, their attention to quality design and local neighborhood character will serve the project well as we transform 10 years of public planning and design into a reality.”
Part of the Central Waterfront neighbourhood, Mission Rock will include 1,400 residential rental units, with 40% affordable to low and moderate income families; eight acres of parks and open space, including a signature waterfront park; and 1.4 million ft² of new, high-quality office space.
It will also include 250,000ft² of neighbourhood serving retail and local manufacturing space; parking facilities for ballpark and neighbourhood needs; rehabilitation of historic Pier 48; public waterfront access and improvements, including a Blue Greenway trail connection from Embarcadero to Hunters Point.
It is expected to generate thousands of construction and permanent jobs.
Tishman Speyer president and CEO Rob Speyer said: “San Francisco is one of the world’s great cities, and we are excited to play this important role in its continuing evolution.
“Larry Baer and his organization should be commended for their long-standing commitment to this project, which represents a once-in-a-generation opportunity to build an exciting new community. We’re proud to be their partner going forward.”
Image: A rendering of the Ball Park. Photo: courtesy of app.box.com.