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Port Commission endorses Forest City term sheet for Pier 70 waterfront redevelopment
Summary
The Port Commission unanimously endorsed a nonbinding term sheet with Forest City Development for the Pier 70 waterfront project, advancing a multi‑phase plan that staff estimate will require about $160 million in infrastructure and deliver public parks, housing and commercial space subject to a 2–3 year entitlement process.
The Port Commission voted to endorse a term sheet with Forest City Development California Inc. to advance a mixed‑use redevelopment of the Pier 70 waterfront site.
Staff and the developer told commissioners the term sheet is nonbinding and will be followed by an approximately two‑ to three‑year entitlement and environmental review process. Forest City’s presentation described three primary goals for the site: create a vibrant district, reestablish Pier 70 as a jobs hub and deliver a public benefits package that includes open space and affordable housing. Jack Sylvan of Forest City…
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