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Budget committee backs Port lease to bring Teatro Zinzani back to waterfront
Summary
The Budget and Finance Committee recommended forwarding to the Board a ground lease with TZK Broadway LLC for Seawall Lots 323–324 to build a hotel, 30,000 sq ft theater for Teatro Zinzani, and public open space; staff said minimum base rent is ~$1 million with percentage rent rising from 3.5% to 6.5% by year 20 and commitments for local contracting and hiring.
Chair Sandra Lee Feuer moved the committee’s positive recommendation after a presentation by Rebecca Benesini, assistant deputy director for waterfront development at the Port of San Francisco.
Benesini described a proposed development on Seawall Lots 323 and 324 that would replace an existing ~60,000 sq ft surface lot with a four‑story mixed‑use project containing roughly 192 hotel rooms, a 30,000 sq ft theater (proposed as the permanent home for Teatro Zinzani) and a 14,000 sq ft public open space. She said the Port would enter a lease development and disposition agreement and,…
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