Pier 70, considered the most intact 19th Century maritime industrial complex on the West Coast, was once a major hub for shipbuilding, repair and heavy industrial uses dating back to the Gold Rush, the mayor's office said.
Today, the site is beset by challenges. Historic structures, some of which are seismically vulnerable, are dilapidated and in need of repair and preservation, according to the mayor's office.
More than 100 years of shipbuilding and industrial use have left a potentially toxic mark on the land.
"Pier 70 is the next step in the revitalization of San Francisco's waterfront," Port Executive Director Monique Moyer said in a statement.
The port is seeking the best development minds in the country to help bring thousands of new jobs to the local economy through the development of 2.5 million square-feet of new construction.
The project also includes the rehabilitation of 260,000 square-feet of historic structures.
"With a strong development partner, the Port is poised to bring additional investment and job creation to the eastern part of San Francisco, while maintaining the historic nature of Pier 70," Newsom said in a statement.
More than three years of community planning went into the development plan.
In 2008, voters approved Proposition D, which provided the port with access to funds to facilitate the development of Pier 70. The port has also received federal funding for environmental analysis and cleanup costs. Responses to the city's Request for Qualifications are due by Nov. 18, 2010.