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Giants Discuss Mission Rock Development

Mission Rock development

In their efforts to redevelop a parking lot south of McCovey Cove, the San Francisco Giants see the potential to boost development surrounding AT&T Park.

For the last few years, the Giants have pitched a development known as Mission Rock. To be located across McCovey Cove from AT&T Park, the mixed-use area would create an influx of entertainment options, retail space, offices. Additionally, the area that is currently a parking lot would be redeveloped to include about 1,500 residential units, production room for Anchor Brewing, and green space.

Across baseball, there are some examples of teams playing a larger role in development at both the major and minor league levels. Aside from the Giants, one of the more prominent examples that is being planned right now is Texas Live!, a development from the Texas Rangers and Cordish Companies.

The developments can provide more destinations around the ballpark on a year-round basis, but teams also see them as a chance to leverage a larger role in planning the neighborhoods around the facilities. That is on the minds of Giants’ officials, according to team president Larry Baer. More from USA Today:

Baer said the team looks at the real estate enterprise partly as a new source of revenue, but also as a way to protect its asset by having a major say in what kind of neighborhood surrounds AT&T Park, which the Giants built with private funding, albeit with significant tax breaks from the city.

“I would say this is less about getting the resources to compete with the New York Yankees or the Los Angeles Dodgers and more about us being prudent business people,’’ Baer said, “to be able to grow the Giants.’’
While the Atlanta Braves move out of Atlanta and the Texas Rangers seek a new ballpark in Arlington, the Giants are among several clubs in the process of turning their surrounding real estate into cash cows.
Mission Rock cleared a hurdle last fall it was approved by San Francisco voters, with more than 73% of ballots affirming the plan. Ever since, the Giants have been working with various agencies in San Francisco to finalize the proposal.

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