The San Francisco Giants’ more than decadelong plan to reshape Seawall Lot 337, a 28-acre surface parking lot on the waterfront, into a new neighborhood adjacent to its Oracle Park stadium is materializing.

Work has begun to construct a 23-story mixed-use high-rise that is one of four buildings making up Phase 1 of the Mission Rock project developed by the S.F. Giants and Tishman Speyer in a public-private partnership with the Port of San Francisco, according to a statement.

MVRDV, the design firm for the tower, took inspiration from California’s landscapes resulting in a collection of features, which resemble a “canyon-like space," providing an open space connection to the waterfront. The tower’s water-facing elevations are marked by “undulating balconies” that add an almost rocky appearance.

“It’s wonderful to see this project underway, as we really can’t wait to show the result of what is, for us, an exemplary project," MVRDV founding partner Nathalie de Vries said in the statement. “In our own design, we were able to incorporate several ideas that are key to MVRDV, such as mixing functions, creating a diverse collection of apartments, and adding many lively, green outdoor spaces. The project is also significant due to the innovative, collaborative design process we shared with our colleagues at Studio Gang, Henning Larsen, and WORKac.”

Called Building A, the 395K SF tower contains apartment units, 58K SF of office, ground-floor retail and roof terraces, among other amenities. In total, the two residential buildings of Phase 1 will yield 540 housing units. The tower located next to “handshake plaza” is positioned to be a first point of contact for people entering Mission Rock from the Third Street Bridge. They can then walk down a pedestrian street carved through the tower and into other parts of the master-planned site that grants public waterfront access.

In addition to seeking LEED Gold certification, the Mission Rock master plan is aimed to create a walkable neighborhood where residents, workers and visitors are less reliant on personal vehicles. Building A will also house a District Energy System for greater efficiency.

Building A is the second in Phase 1 to start construction behind Building G, an office component designed by Henning Larsen, the statement said. Mission Rock will yield about 2.7M SF of residential, office and retail combined and 8 acres of open space at full build-out. Of the 1,200 total housing units, 40% will be designated affordable. The project also involves historic preservation of Pier 48 and construction of a parking structure for both ballpark and neighborhood uses.