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Two development teams outline competing plans to rehabilitate Pier 38 bulkhead
Summary
Two shortlisted developer teams presented competing two-phase proposals to reactivate the Pier 38 bulkhead: TMG Partners proposed a fast-activation Phase 1 with retail, restaurants and tech office and a longer-term seismic Phase 2; San Francisco Waterfront Partners proposed a phased approach emphasizing public apron access, pop-up dining and an event-ready end-of-pier space. Staff will return with a recommendation in September.
Two developer teams returned to the Port Commission on Aug. 13 with detailed proposals to rehabilitate and re-tenant the Pier 38 bulkhead and to outline how a short-term Phase 1 activation could lead into a full Phase 2 rehabilitation.
TMG Partners (represented by Michael Covarrubias and Matt Field) proposed a short-term Phase 1 focused on quick activation with retail, restaurants (including food trucks) and tech-office space in the rear of the bulkhead building while avoiding triggers that would require an immediate full seismic upgrade. TMG said Phase 1 would require limited capital outlay (presented as about $6 million for Phase 1 improvements), yield base rent of roughly $25,000 per month ($300,000/year) and include rent credits for qualifying improvements. The team forecasted a 25-year lease and percentage participation on a future sale.
San Francisco Waterfront Partners (Simon Snelgrove, Alicia Orban) advocated a two-phase approach built around installing a seismic joint early to enable public access, pop-up restaurants and expanded apron space in Phase 1 and a comprehensive Phase 2 historic rehabilitation to Secretary of the Interior standards. SFWP proposed a shorter Phase 1 lease (10 years) with a $120,000-per-year minimum during construction and a larger Phase 2 minimum rent (presented as $1.2 million once at full occupancy), plus percentage rent and transfer participation. SFWP emphasized LBE/local-hire commitments and event-space opportunities at the piers end.
Commissioners praised both submittals and asked detailed questions about occupancy during Phase 2 construction, maritime components (guest docks and floating docks), local-hire targets and environmental/entitlement timing. Port staff said they expect to bring a staff recommendation back to the commission in September.
