San Francisco Giants: Mission Rock Development is Important
In order to compete with the deep pockets of their arch-rival Los Angeles Dodgers, the San Francisco Giants may have found a way to generate revenue year-round where a parking lot currently sits.
Lot A, across the Lefty O’Doul bridge is a prime real estate spot. It sits on the bay, and has access by car, public transit, and even boat. But when the Giants needed a place for parking, they used it for that. And now that the fans have found alternative means to attend games at AT&T Park, the team feels comfortable enough to use the space for something more grand, and profitable.
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Welcome Mission Rock Development, a vision to turn that parking lot into a possible goldmine for both the team and the city.
The designs shown here on the San Francisco Giants website, show a beautiful open space, that enhances the area surrounding AT&T. It also makes the area a place to go after games with shops and cafes.
Proposition D, to approve an increase in the height of buildings in the area up to 240 feet, passed this past November. As the website states, the project will create 1500 new rentals, 8 acres of parks and open space, as well as new jobs and revenue for the city.
But what does this all mean for the team?
It means that $1 billion dollar deals are not only relegated to television contracts. If a team is smart, privately finances their new buildings, it gives them the ability to profit from what they invested in, and motivation to keep it profitable.
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This project is still more than a few years away from being completed. There are always major hurdles in San Francisco to get things done. But 73% of the voters approved this proposition, and if that is any indication of the support, then they are on their way to having a cash cow across McCovey Cove.