Take a tour of SF's new Mission Rock development

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Monday, June 5, 2023
Take a tour of new Mission Rock development in San Francisco
A project 13 years in the making is closer to being complete in SF. Mission Rock is a new development site across McCovey Cove from Oracle Park.

SAN FRANCISCO (KGO) -- A project 13 years in the making is closer to being complete in San Francisco. Mission Rock is a new development site across McCovey Cove from Oracle Park.

ABC7 News toured the project, where the first tenants will soon be moving in, as well as the global headquarters for Visa Global Headquarters.

The Canyon is the first residential building in Mission Rock, opening to tenants in June.

Iowayna Peña, Director of Real Estate & Development with the San Francisco Giants, is helping transform this 28 acre property next door to Oracle Park into rental units, business offices, retail space and a new waterfront park.

"Folks are starting to think, 'What does it look like for me to step outside my door and have all the resources I need right at my footsteps?'" Peña said. "So we're bringing that here with restaurants, entertainment, barbershop, things that every day people need and would enjoy."

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The site was built with the future in mind. It's raised 5 feet to deal with sea level changes. There are sustainability features inside the buildings and out, including a thermal district energy system to reduce carbon emissions and water use.

For anyone who's recently been to a Giants game or driven by, you might have seen a new Visa sign, the new home of Visa's Global Headquarters.

"Visa's working right now to build out their space," said Maggie Kadin, managing director with Tishman Speyer. "We anticipate they'll be occupying in the beginning of 2024, bringing a lot of additional activity to Mission Rock."

The second residential building that's part of the development is scheduled to be complete in 2024.

"What I'm most excited about is to see the number of folks that will be taking advantage of the affordable housing that we're making available here," Peña said. "This is a big project and 40% of our residential offerings will be for below market rate tenants."

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Part of the development is eight acres of parks and open space, including an expanded five-acre China Basin park located along the waterfront.

"I think that folks will find joy to be able access the environment in a different way than they've able to do down on this side," Peña explains.

Developers hope the location helps draw visitors to this Mission Bay neighborhood, whether it's Warriors or Giants fans stopping by or people just wanting to take in the view.

"We feel incredibly strong about San Francisco and it coming back stronger than ever. There's a ton of potential here, it's a stunning landscape you can't just recreate that elsewhere," Kadin says.

The development also focuses on hiring commitments, targeting 30% local hires and 20% local business enterprise.

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