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San Francisco Giants Select Tishman Speyer to Build Mission Rock Project Near AT&T Park

Major League Baseball Team Hopes to Break Ground Next Fall on 28-Acre Development
September 7, 2018
The San Francisco Giants selected New York City-based Tishman Speyer as its development partner for the 28-acre Mission Rock mixed-use development, becoming the latest in a wave of real estate projects aiming to benefit from the traffic, visibility and buzz generated by major sports venues.

Planned for construction just across McCovey Cove beyond the right field wall of AT&T Park, the Mission Rock complex will include about 1,400 residential units as well as 250,000 square feet of retail space and up to 1.4 million square feet of office space. Mission Rock will be built on property owned by the Port of San Francisco and leased to the developers under a 99-year ground lease.

The Giants and Tishman Speyer, which has developed the 555 Mission St. office tower and several major residential projects in San Francisco, hope to break ground on the first four office buildings and 650 housing units by late next year, according to the two groups.

Plans to develop the site began in 2010 when the San Francisco Port Authority and city and county of San Francisco awarded the master development rights for the project to the Giants organization. The team has been in talks with Tishman Speyer to serve as co-master developer and general partner in the project for over a year.

The project includes the planned rehabilitation of historic Pier 48 and improving public waterfront access, including a pedestrian trail connection running from the Embarcadero to Hunters Point.

Tishman Speyer President Rob Speyer said the chance to build the project near the 41,915-seat major league baseball stadium was a "once-in-a-generation opportunity" in a statement announcing his firm's selection.

Also scheduled to open next year in the Mission Bay district is Chase Center, an 18,000-seat venue that will be the home of the 2018 champion Golden State Warriors National Basketball Association team.

Other stadium-linked development projects are currently underway in Las Vegas, Atlanta, Nashville and many other cities following the success of similar development projects around sports stadiums.

In Los Angeles, for example, the city of Inglewood will host the NFL's Rams and Chargers as well as the NBA's Los Angeles Clippers as part of a 300-acre mixed-use project that includes the $2.6 billion LA Stadium and Entertainment District at Hollywood Park. The project features a 70,000-seat stadium, 6,000-seat performing arts venue, nearly 800,000 square feet of office space, 900,000 square feet of retail, a hotel and 2,500 housing units.

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