Giants, Tishman nearly ready for opening day at Mission Rock
First residential towers lead off, with Visa HQ on deck
Opening day is fast approaching for both San Francisco Giants fans and residents who want to live across McCovey Cove at Mission Rock. After more than 13 years of planning and construction, the development’s first residential towers will begin leasing next month, with move-ins scheduled to begin in June, according to Iowayna Pena, director of real estate and development for the Giants.
The second of four buildings to open in this first phase of Mission Rock–a joint venture of the Giants and developer Tishman Speyer on a former parking lot–will be Visa’s 13-story global headquarters. Visa signage on the building, which can be seen from the ballpark, recently went up and Pena said the company will begin moving in towards the end of this year.
The other two as-yet-unnamed buildings in the first phase—an eighth-floor office building that pivoted to life sciences during the design phase, and another 23-floor apartment building with some planned flex working and event space—are slated to open in 2024.
Within weeks, floor plans, virtual tours and rent rates will be posted for both market-rate and affordable units at the 23-story apartment tower, which has been dubbed The Canyon and will have 283 rental units. Of those, 102 will only be available to those who make between 90% and 150% of the area median income–between $125,000 and $207,000 for a family of four.
Affordable applicants will have one month after a lottery goes live next month to enter their information at the Mayor’s Office of Housing website, after which a third party who has previous experience with the MOH will begin processing the applications.
The affordable units will rent at 20% below market rate, Pena said. The starting rents for the market-rate units will likely be offered at a discount from what she hopes they will be able to command down the line, but she could not say how much.
Pena said that the developers would soon be revealing some of the vendors that have signed on to take up what will be 85,000 square feet of retail and restaurant space. There will also be native plantings, seating areas and four “street rooms”—interactive installations conceived by local artists—to welcome new residents and Visa employees. The inland portion of the 5-acre waterfront China Basin Park is expected to open in the next 12 months.
Pena gave her update at a press event describing some of the Giants’ initiatives for its 2023 season, including the team’s new marketing slogan, Nothing Like It, meant to evoke the unique experiences possible at Oracle Park. Bobbleheads–including an Elmo to celebrate the team’s first-ever Sesame Street day, and promotions, like a Kentucky Derby Day where the Giants will be the first MLB team ever to broadcast the famed horse race live before a game–were also introduced, as well as new concessions items like crab fries and churwaffles.
Giants CEO and president Larry Baer cast the knick-knacks and noshing as adornments of the larger picture of what the franchise is bringing to its corner of the city.
“You’ll be seeing changes and openings and announcements throughout the season, but in the shadow of the ballpark will be these buildings that will create a new neighborhood for San Francisco,” he said.
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