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In coming years, San Francisco’s Mission Bay neighborhood will look vastly different than it does today.

Once made up of industrial warehouses and shipyards, the 303-acre waterfront area started redeveloping in the late 1990s — adding thousands of new housing units, public plazas, a state-of-the-art medical center, and 580,000 square feet of office space. And in 2019, the Chase Center, an 18,000-seat arena, will open along with a new subway stop and 100,000 square feet of retail space. It’s a long-term redevelopment project for the city, and is expected to last at least two more decades.

Mission Bay is not the only megaproject set to transform San Francisco, however.

Here is a look at some of the most substantial projects to come to California’s tech hub.

The 5M Development — $1 billion

Comprised of three towers, the 5M development will cover four acres between 5th, Mission, and Howard streets in downtown San Francisco.

Developers say 241 of its 688 housing units will be offered below-market-rates. It will also add 807,600 square feet of office space, 50,000 square feet of public space, and 35,000 square feet of retail like restaurants and shops.

Construction was slated to begin in late 2016, but in January 2016, two months after San Francisco approved the project, local activists sued the city over it. According to Curbed, they claimed that the 5M Environmental Impact Report did not show how much the project could increase the city’s traffic, generate shade on city parks, and lower the amount of open space.

The lawsuit was denied in early 2017, and developers Forest City say that construction will start in 2018 (though no exact timeline has been announced).

The San Francisco Business Journal pegs 5M’s cost anywhere from $700 million to $1 billion.

The Mission Bay Redevelopment — At least $1 billion

The 303-acre, redeveloped Mission Bay neighborhood will feature thousands of new housing units, office, parks, and retail shops in the coming decades. 

Located between the San Francisco Bay and Interstate 280, the site’s redevelopment was approved in 1998. The masterplan includes 4.4 million square feet of office and lab space, a new UCSF research campus and medical center, 419,000 square feet of retail space, a 250-room hotel, 41 acres of public space, a 500-student public school, a public library, a fire and police station, a light rail stop, and 6,404 housing units (with about 30% of them designated as affordable). 

Some of these components have been built, and Mission Bay already looks much different than it did a decade ago.

In 2019, an 18,000-seat arena, which will become the home of the San Francisco Warriors and cost approximately $1 billion, will open. In March 2017, Uber bought space there, which means the company will soon occupy at least half of the neighborhood’s office space. 

There’s no exact timeline for the (likely multi-decade) project, but construction on several residential buildings began in January 2017.

Parkmerced — $1.35 billion

Over 5,679 new housing units will stretch across 152 acres when Parkmerced is complete around 2035. While the developers say the masterplan may evolve, it currently includes 230,000 square feet of retail, 80,000 square feet of office space, and 60,000 square feet of public space as well.

Located in the southwestern San Francisco, Parkmerced’s first phase — expected to wrap up by 2022 — includes five residential complexes that will add 1,000 housing units. Construction of the $1.35 billion development started in spring 2017.

See the rest of the story at INSIDER
Source: http://www.thisisinsider.com/san-francisco-megaprojects-2017-6

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