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Port Commission approves exclusive negotiating agreement for Seawall Lot 337 and Pier 48
Summary
The Port Commission authorized an exclusive negotiating agreement with the developer team led by the San Francisco Giants and partners for Seawall Lot 337 and Pier 48, establishing a two-phase timetable, fee structure and benchmarks to guide environmental review and negotiations.
The Port Commission on May 25 authorized an exclusive negotiating agreement (ENA) with the developer team selected for Seawall Lot 337 and adjacent Pier 48, a major waterfront site the port described as one of its most important future revenue-generating properties.
Jonathan Stern, planning and development staff, told commissioners the ENA is structured in two phases. Phase 1 is intended to take about 24 months (with up to a six-month extension) to produce a revised concept and an agreed term sheet for subsequent approvals; Phase 2, estimated at 36 months (with potential extensions), covers regulatory review and CEQA with…
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