Tishman Speyer Joins on 1.4 MSF San Francisco Mixed-Use
- Sep 10, 2018
Tishman Speyer has taken on a role in the creation of Mission Rock, a 28-acre mixed-use project along the waterfront in San Francisco. Major League Baseball team the San Francisco Giants—the developer spearheading the public-private partnership endeavor with the Port of San Francisco, the City of San Francisco and the County of San Francisco—recently selected Tishman Speyer to serve as its joint venture partner on the massive undertaking.
Tishman Speyer’s new partnership role as co-master developer and general partner for Mission Rock comes 10 years after the Giants secured the exclusive rights to develop the project’s future location, Seawall Lot 337. The site is near the 41,915-seat AT&T Park baseball stadium, which the team built privately in 2000.
“We have observed for many years how the Giants, the City and the Port leaders have worked so closely with the surrounding community to create a plan for maximum public benefit,” Carl Shannon, senior managing director with Tishman Speyer, said in a prepared statement. “We look forward to partnering with them to now extend that engagement and execute the plan, making their collective vision a reality.”
Ultimately, Mission Rock will feature 1,400 multifamily rental units, 40 percent off which will be designated affordable residences for households falling in the low- and moderate-income ranges. Additionally, the project will include as much as 1.4 million square feet of premier office, 250,000 square feet of retail and manufacturing space and eight acres of parks and open space.
With Mission Rock’s entitlement process having recently wrapped up, the joint venture will commence the design stage for the initial phase of the development.
Tishman Speyer is no stranger to gargantuan, high-profile projects. “Tishman Speyer’s outstanding track record here in San Francisco and around the world makes them an ideal partner to work with us to deliver this vision for our city,” Laurence Baer, president & CEO of the Giants, said in a prepared statement. “In particular, their attention to quality design and local neighborhood character will serve the project well as we transform 10 years of public planning and design into a reality.”
The lengthy, global list of mixed-use projects under Tishman Speyer’s belt includes The Atrium, an approximately 1.3 million-square-foot property featuring a shopping mall, office tower, upscale residences and serviced apartments in Chengdu, China. In Frankfurt, Germany, the real estate company is nearing completion of Omniturm, a 45-story tower marking the Deutschland’s very first mixed-use offering featuring office, residential and public space elements. And in New York, Tishman Speyer continues to contribute to Long Island City’s transformation with various projects at Gotham Center in Queens.
Images courtesy of Tishman Speyer