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What's Missing In San Francisco?

WASHINGTON DC 04.18.2017


Exclusive Bisnow Reception to Follow Panels

Chris Clemente -- Comstock Partners
Minh Le -- Gramercy District
Brian Cullen -- Keane Enterprises
What's Missing  In San Francisco?
For years, a "three point shot" in San Francisco might refer to hunting or drinking. As the only major American city without an arena, it certainly wasn't basketball. But with the NBA’s Golden State Warriors set to return after more than four decades, the city will finally have a large-capacity arena, along with 100k SF of retail and residential space.
What's Missing  In San Francisco?
The Warriors last played hoops in San Francisco in 1971, but their jump across the bay from Oakland means much more to the city than just 41 games a season. San Francisco stands to attract over 200 other events per year with the waterfront arena, from musical acts to the circus. Strada Investment Group has been named development manager; spokesman Nathan Ballard tells us “games and events will bring people from all over the region, and the money they spend will directly benefit local businesses.”

What's Missing  In San Francisco?
Strada expects to break ground in the next two years and has former public officials Michael Cohen (above, speaking at a BOMA event) and Jesse Blout to navigate the red tape. The project has strong support from Mayor Ed Lee and the Board of Supervisors has adopted a resolution, but a lot of different regulatory agencies still have to sign off (the California Lands Commission and Bay Conservation and Development Commission among them).
What's Missing  In San Francisco?
The arena, above, is slated to open in advance of the 2017-18 NBA season and will sit on 13 acres at Piers 30-32, about halfway between AT&T Park and The Ferry Building. The project will be financed privately and is estimated to cost $500M, plus $100M to refurbish and reinforce the pier. (Tens of thousands of people doing the wave can do some damage.) When finished, it'll seat between 17,000 and 19,000 fans.
What's Missing  In San Francisco?
Sideman & Bancroft attorney and certified urban planner Jim Janz says the waterfront arena will make San Francisco more of a 24-hour city. Between November and April, business along the waterfront is down with the Giants out of season. He believes the arena will stimulate the redevelopment of the inactive stretch of the waterfront, a similar effect to the one AT&T Park had more than 12 years ago.