San Francisco Mayor Ed Lee was on site on January 31st as construction crews broke ground on a $92 million project related to the 34th America's Cup events to be held in the city this year and in 2013. A new 88,000 square foot cruise terminal at Pier 27, which has been at the planning stages since 2007, will provide a gateway to cruise passengers well after America's Cup has wound up.
"This new cruise terminal, and the world attention that the America's Cup will bring to our waterfront, will benefit our local and global visitors, as well as our tenants and local businesses, for decades to come," San Francisco Port Commission President Doreen Woo Ho said at the event.
The terminal construction is expected to bring 600 direct jobs under Turner Construction, the contractor for the project, with the Department of Public Works managing the construction. KMD Kaplan McLaughlin Diaz and Pfau Ling Architecture JV designed the two-level terminal with an eye on landing LEED silver certification.
The centerpiece of the deal between the city and race organizers, led by billionaire Oracle co-founder Larry Ellison, has been that Ellison's group would pay at least $55 million to repair aging piers the city can't afford to fix to house team bases in exchange for long-term development rights to waterfront properties to recoup their investment reported the San Francisco Chronicle.
Click here to watch an ABC News segment on the groundbreaking. Visit Blumberg Capital Partners for more news and information.
No comments:
Post a Comment