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Committee forwards private-public plan to redesign Embarcadero Plaza and Sue Bierman Park; partners pledge roughly $12.5 million in private funds
Summary
The Budget and Finance Committee on Feb. 26 advanced to the full Board of Supervisors an agreement to plan and fund renovation of Embarcadero Plaza and Sue Bierman Park, with private partners pledging design funds and an initial fundraising target of about $10 million in private contributions.
The Budget and Finance Committee on Feb. 26 voted to forward to the full Board of Supervisors a resolution authorizing the Recreation and Park Department (RPD) to enter into a public-private agreement with BXP Embarcadero Plaza LP (a Boston Properties affiliate), the Downtown San Francisco Partnership and the Office of Economic & Workforce Development to renovate Embarcadero Plaza and Sue Bierman Park.
RPD said BXP has committed roughly $2.5 million in design funds and in-kind support to initiate planning and will work with the Downtown Partnership to raise about $10 million in private funding. RPD said it will pursue a public funding package of $15–$20 million comprising sources such as the 2024 general obligation bond, the Downtown Park Fund, the Transbay/Redevelopment CFD and potential grants.
Supervisor Danny Sauder (sponsor) and downtown stakeholders described the project as a once-in-a-generation opportunity to reconnect the Ferry Building, the plaza and the park, improve public access and support downtown economic recovery. RPD staff described the site's deferred maintenance (paving, fountain repairs) and said the fountain's repair alone was estimated at about $10 million.
Speakers from BXP, the Downtown SF Partnership and allied organizations expressed support. BXP said it hired an architect to prepare an initial vision and emphasized the role of a renovated plaza in drawing visitors and businesses back to the downtown waterfront. Labor representatives said construction would provide local work opportunities. Conservation and bird-advocacy speakers requested attention to habitat and migratory-bird protections in design.
RPD said specific public funding sources are not yet fully allocated and that staff will work with the Capital Planning Committee to identify contributions from the 2024 bond and other sources. Supervisors asked RPD for a funding breakdown and the department committed to provide a funding plan before the full board vote.
The committee voted to forward the MOU and accept-and-expends to the full board with a positive recommendation (3-0). Chair Chan asked RPD to provide a written breakdown of anticipated public funding sources before the board vote.
