Tuesday, September 21, 2010

San Francisco Eyes Waterfront Redevelopment for America's Cup Bid

The City of San Francisco has unveiled a broad waterfront redevelopment plan in accordance with its bid to host the America's Cup.

[I]f city officials are successful in their plan to host the next America's Cup, the drab Piers 30-32 would be transformed into a striking bayfront amphitheater and sailing showplace - a focal point of a revived waterfront stretching from the Bay Bridge to south of AT&T Park - all without tapping taxpayer funds.

Under a proposal that Mayor Gavin Newsom's administration recently presented to race organizers, the city would provide free land and future development rights on the property in exchange for the America's Cup event authority paying $100 million to $150 million to shore up the piers, dredge the area around them, and install new breakwaters and utility lines.

San Francisco's plan for hosting America's Cup
San Francisco Chronicle
September 4, 2010