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Giants-backed Mission Rock revised proposal outlines 3.5 million sq ft, housing and parks; staff, Giants to finish term sheet
Summary
The Port Commission heard a detailed informational presentation on the revised Sewell/Seawall Lot 337 ("Mission Rock") proposal from Sewell 337 Associates (including the San Francisco Giants). The team outlined up to 3.5 million square feet of development, 650—1,000 rental units, 125,000 sq ft of retail, shared parking and expanded parks; staff and developers said 6 of 12 Phase 1 benchmarks are complete and a term sheet is expected later this year.
The Port of San Francisco Commission on a regular meeting day received an informational presentation on the revised proposal for Seawall Lot 337 and Pier 48 (often referred to in the presentation as Sewell Lot 337), a mixed-use development led by Sewell 337 Associates, LLC, a joint venture that includes the San Francisco Giants.
Phil Williamson, project manager for the Lot 337 development, told commissioners the exclusive negotiating agreement (ENA) envisions a two-phase process: up to 30 months to reach agreement on a project plan and financial terms, followed by up to three years to complete entitlements and permitting. Williamson said staff and the Giants are working toward a term sheet for commission consideration later this year. He corrected an earlier count in the presentation, saying that when benchmark #1 is included the project team has met 6 of 12 Phase 1 benchmarks.
Jack Baer, senior vice…
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