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Board endorses amended Pier 70 term sheet after port and community negotiations
Summary
The Board of Supervisors endorsed an amended term sheet for the Pier 70 waterfront redevelopment, approving revisions requested by the budget analyst and securing commitments on inclusionary housing and protections for arts and manufacturing uses.
The Board of Supervisors voted unanimously Tuesday to endorse an amended term sheet between Forest City Development California and the Port Commission for the Pier 70 waterfront site after the port delivered changes requested by the board—s budget analyst.
Why it matters: Pier 70 is one of the largest waterfront redevelopment opportunities in the city. The project aims to rehabilitate historic buildings, create new parks and public open space, preserve space for local manufacturing and arts uses, and add housing and commercial space. Supporters called it a major neighborhood revitalization opportunity for the southeastern waterfront.
What happened in the meeting Supervisor Cohen offered technical amendments designed to respond to recommendations from the Budget and Legislative Analyst; the amendments were vetted with port staff and the analyst, who confirmed the changes addressed their concerns. Cohen—s amendments were seconded by Supervisor Breed and accepted by the board.
Key commitments and conditions - Inclusionary housing: Port staff said city-owned projects (proprietary projects) have a 15% inclusionary requirement; market-rate inclusionary set under Proposition C is 12% (transcript comment). Forest City proposed an 80/20 market-rate to affordable mix for certain buildings and discussed using 80/20 tax-credit financing to achieve on-site rental inclusion. - Jobs and uses: Project emphasis includes local manufacturing (SF MADE-type businesses), arts space and neighborhood-serving retail and restaurants. - Budget analyst review: The office of the budget analyst reviewed the final amended term sheet and recommended approval.
Vote The board adopted the resolution endorsing the amended term sheet by roll call; the vote was recorded as 11 ayes.
What remains to be done The term sheet sets the policy framework; staff and Forest City must complete a detailed project agreement and an environmental review process before any project approvals and construction. Supervisors said they would hold hearings and scrutinize future project phases, and Supervisor Wiener said he will call a hearing on transit infrastructure planning to ensure projects along the waterfront and elsewhere are supported by adequate transit.
Provenance: discussion and the vote are in the transcript beginning with Supervisor Cohen—s remarks introducing the amendments and concluding with the roll call vote that recorded 11 ayes (see transcript around items 2770—1371).
