May 2009Seawall Lot 337 Proposal to Incorporate Mixed-Use Development, But Sacrifices Arts ThemeBy Kerry FleisherRepresentatives from the San Francisco Giants, Wilson Meany Sullivan, and Kenwood Investments convened at the San Francisco Chamber of Commerce last month to outline revisions to their development proposal for Seawall Lot 337 and Pier 48, currently the site of a parking lot just south of AT&T stadium. The speakers reviewed their plans to construct a mixed-use district that will feature family-friendly open space along the waterfront. However, due to economic pressures, the team has eliminated the original Performing Arts Pavilion and multi-use arena from the plan, and reduced the amount of retail space in favor of offices. Wilson Meany Sullivan Partner Jon M. Knorpp and Kenwood Investments Vice President Jay Wallace envision a mixed-use lot with several large office towers and condominiums, pedestrian-friendly walkways that wind through retail corridors, and non-invasive parking on the quadrant’s southwest corner. The Performing Arts Pavilion was originally intended to host 1,000 to 10,000 people. According to the developers, neither the pavilion nor the arena are “economically contributory” enough to meet the City’s financial feasibility standards. The revised plans reduce the amount of retail space from 400,000 to 250,000 square feet, and increase the amount of office space from 790,000 square feet to 1,200,000 square feet. No changes have been made to the amount of allotted residential space; 875 residential units are still slated for construction. Originally one of four teams to submit a proposal, these developers, along with The Cordish Company, Farallon Capital Management L.L.C. and Stockbridge Capital, were selected by the Port of San Francisco to advance to the next stage of project planning, though a contractual agreement has yet to be finalized. The team says that the entitlement process alone will take several years, and predict that the entire project will need 20 years to be fully completed, partially because of the need for toxic cleanup. Knorpp and Wallace discussed their vision for a “creative waterfront edge” at McCovey Cove, alongside a pedestrian walkway that would begin at the southwest parking garage and head toward AT&T stadium. The parking lot’s location will enhance the retail corridor because people parking for Giants games will pass by the retail strip twice, according to the developers. The developer team aims to create an ambiance reminiscent of ‘Las Ramblas’ in Barcelona, in which the walkways are “surrounded by large buildings to create a haven.” They also envision a layout similar to Madison Square Park in Manhattan, with differing tower heights. Due to height limits in Mission Bay, the highest tower will rise to roughly 350 feet. As ballpark parking remains a prime concern of City planners and the Giants, the developer team has dedicated 2,000 of the 2,650 parking spaces for temporary ballpark use. Knorpp and Wallace say that the structured parking will be “on a much smaller footprint on the lot” than it is currently. They’ve partnered with the San Francisco Bike Coalition to permit plentiful bike parking on the site, and current plans include an historic streetcar that would run through the quadrant to downtown. In keeping with the creative waterfront edge theme, the proposal includes a kayak launch for people looking to catch that lucky homerun shot, along with other water sport activities. The developers want to make Pier 48 available for regional conventions, as well as for weddings, banquets, and small conferences, though strict zoning regulations for Pier 48 will need to be met. The developers must also meet the Port’s sustainability standards, and, as a result, will include LEED-certified buildings in the project. The project will begin with the construction of towers, followed by the creation of adjacent open space. The developer team hasn’t yet contracted with any retail businesses. According to Wallace and Knorpp, it’s too early to begin identifying tenants. Because there’s high demand for office space due to the site’s proximity to the University of California, San Francisco, Mission Bay campus, the developers remain flexible in terms of the mix of residential and commercial units to be built. The San Francisco Giants, The Cordish Company, and Farallon Capital Management have financially backed such sports stadiums as San Francisco’s AT&T Park and Ballpark Village in St. Louis. Farallon, a San Francisco investment firm, owns other Mission Bay parcels. |
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