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."