Elevation Sky Park is being billed as a "multi-sensory playground" to experience live concerts, transformative art, movie screenings and events.
The park is being planned for Pier 70 and features three domes, along with a pyramid able to hold up to 800 people.
MORE: SF's Embarcadero Plaza to get $35 million facelift funded by private-public partnership
Mayor Daniel Lurie says the project is part of the city's effort to reimagine what's possible while creating new opportunities for residents, artists and local businesses.
It's slated to open next year.