The San Francisco Giants and Tishman Speyer unveiled the look of their first apartment building expected to open this summer across from Oracle Park.
The Major League Baseball team and the New York-based developer released new renderings of the 23-story building at 1001-1049 Third Street, near the Lefty O’Doul Bridge in South of Market, the San Francisco Chronicle reported. It replaces a parking lot used during games.
The 283-unit complex, set to open in June, is the first of four buildings planned for Mission Rock, a 28-acre mixed-use project by Pier 48, directly across McCovey Cove from the Giants’ ballpark.
The burnt-umber highrise, known as The Canyon, was inspired by California’s rock formations, according to its architect, Netherlands-based MVRDV.
The 254-foot-tall building will include apartments ranging from studios to three-bedroom units, plus 58,000 square feet of offices and an unspecified number of ground-floor shops and restaurants.
More than a third of the apartments, or 102 units, will be set aside as affordable housing.
That includes 10 apartments for residents who earn up to 90 percent of area median income, 54 units for residents who earn up to 120 percent of typical income, and 38 for those making up to 150 percent. In San Francisco, the median income for a four-person household is $138,550.
Applicants are chosen through a lottery run by the city.
The new tower is taking shape next to a shoreline China Basin Park, across from the stadium.
The 2.7 million-square-foot Mission Rock development, in the works since 2008, will include 1,200 apartments, of which 40 percent will be affordable; offices; life science labs; and “superloos” for a “premium restroom experience.”
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The Mission Rock project will include 8 acres of parks and open space.
Over the next year, the Giants and Tishman Speyer expect to complete a 13-story office building to serve as Visa’s headquarters, a second 23-story apartment tower and a commercial building designed for life sciences research. Both are expected to open in 2024.
— Dana Bartholomew