28-acre Waterfront Mixed-Use Neighborhood to Feature Parks and Open Space, Affordable and Market Rate Housing, Retail, Office and Local Manufacturing
San Francisco – The San Francisco Giants today announced the selection of Tishman Speyer as its joint venture partner to develop the waterfront Mission Rock mixed-use neighborhood near AT&T Park.
Mission Rock is a public-private partnership with the Port of San Francisco and the City and County of San Francisco. Now, as co-master developer and general partner, Tishman Speyer will bring its recognized expertise to work alongside the Giants to design, build, lease, and program this new San Francisco neighborhood. Tishman Speyer is a leading developer, owner, operator and asset manager of real estate around the world with several successful projects in San Francisco over the past several years.
Since 2010, when the Giants were selected as the master developer, the team has collaborated with the Port, city agencies, stakeholders and neighbors on the overall vision for the new neighborhood. Mission Rock will serve as a centerpiece for the emerging Central Waterfront neighborhood and will include:
- Approximately 1,400 residential rental units, with 40 percent affordable to low and moderate-income families.
- 8 acres of parks and open space, including a signature waterfront park.
- Up to 1.4 million square feet of new, high-quality office space.
- 250,000 square feet of neighborhood-serving retail and local manufacturing space.
- Parking structure to serve ballpark and neighborhood needs.
- Rehabilitation of historic Pier 48.
- Public waterfront access and improvements, including a segment of the Blue Greenway trail connection from Embarcadero to Hunters Point.
- Thousands of construction and permanent jobs.
“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,” said Giants President and CEO Laurence M. Baer. “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.”
“San Francisco is one of the world’s great cities, and we are excited to play this important role in its continuing evolution,” said Tishman Speyer President & CEO Rob Speyer. “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.”
Tishman Speyer Senior Managing Director Carl Shannon added, “We have observed for many years how the Giants, the City and the Port leaders have worked so closely with the surrounding community to create a plan for maximum public benefit. We look forward to partnering with them to now extend that engagement and execute the plan, making their collective vision a reality.”
About the San Francisco Giants (www.sfgiants.com)
One of the oldest teams in Major League Baseball, the 136-year old franchise moved to San Francisco from New York in 1958. After playing a total of 42 years in Seals Stadium and Candlestick Park, the team privately constructed AT&T Park in 2000. The organization is widely recognized for its innovative business practices and baseball excellence. In 2010, the franchise was named the Sports Organization of the Year by Street & Smith’s Sports Business Journal and in 2010 was named Organization of the Year by Baseball America. Since opening its gates, AT&T Park has become internationally-renowned as a premier venue in the world of both sports and entertainment. On the diamond, more than 56 million spectators have witnessed a number of magical moments, including three World Series Championships (2010, 2012 & 2014), four National League Pennants and seven playoff appearances.
In 2010, the Giants won the exclusive rights to develop Seawall Lot 337 — a 28-acre waterfront parcel currently used for ballpark parking – into Mission Rock, a mixed use urban neighborhood located across McCovey Cove from AT&T Park. The project recently completed the entitlement phase and is entering into design for phase one of the project.
About Tishman Speyer (www.tishmanspeyer.com)
Tishman Speyer is a leading owner, developer, operator and fund manager of first-class real estate around the world. Founded in 1978, Tishman Speyer is active across the United States, Europe, Latin America and Asia, building and managing premier office, residential and retail space in 29 key global markets for industry-leading tenants. The firm has acquired, developed and operated a portfolio of over 165 million square feet with a total value of approximately US $83 billion spread over 401 assets. Signature assets include New York City’s Rockefeller Center, São Paulo’s Torre Norte, The Springs in Shanghai, Lumière in Paris and OpernTurm in Frankfurt. Tishman Speyer currently has projects at different stages of development in Boston, Brasília, Frankfurt, Gurgaon, Hyderabad, Los Angeles, New York City, Paris, Rio de Janeiro, São Paulo, Shanghai, Shenzhen and Washington, DC. In San Francisco, the firm has been responsible for recent outstanding projects such as Infinity, Lumina, 555 Mission St and 222 2nd St. The firm also operates portfolios of prominent office property portfolios in Berlin, Chicago and London.