Costs in this project and so this policy is really going to attract huge a much larger amount of private investment than we have seen since the adoption of the private land units lan and to pay for critical city owned land use structure and with that, brad will talk you through the project. Thank you elane. And we do think that this is potentially a game changer for the port. I want to make one minor correction. We have not calculated yet the amount of i f d ass that are captured in pier 70 and it can be the location that we capture the tax increment and it could be that these projects will reach a billion dollars of investment from the i f d actual and that is 3 billion in private investment and you plus up to a billion dollar in public investment. Each of the project the term sheets for these projects are expected to be by the Port Commission by 2013 and then off to the board of supervisors for term sheet consideration and possible endorsement and then each of the project would be su
Now, obviously, this is an he is wees one to prove for the sale scale of these project and to leverage none city resource and is continue best practices of city participation. So, this is graphic just shows the a investment post the adoption of the water front Land Use Plan and you can see there are seven scene Million Dollars of new value since 2,000 and that is for the exploretory and at t park, pier one and disprawn if we have the crews terminal project for one 10 million or 827 million of investments since the adoption of the water front plan. The three project that weave ill that brad will be talking about in a moment is at a much larger scale in these three proposed project and you will see as you look at the project that there is about 400 and 10 million of planned i f d proceeds for infrastructure costs in this project and so this policy is really going to attract huge a much larger amount of private investment than we have seen since the adoption of the private land units lan
That will happen as early as 20 scene, 207 in the initial phase and its hard to tell now what the right mix of office vs. Residential is so the zone something proposed to be flexible to respond to different market conditions. This china basin park proposals is one of the reasons why the giants the sea well lot 337 llc. , proposal is receiving such positive tension its because of the attention they have given to the design of this water front open space. It would be 5acres the costs are high. We are looking at entirely newue tillity infrastructure new streets, sidewalks sidewalks and park locate and is improvements to pier 48 currently estimates at over 2 million in current 2,012 and this infrastructure is really needed to unlock the value of this site for the port and for development. Very significant this would be an entirely new city neighborhood with Significant Economic Development for the city as a whole and 5,000 construction jobs and over 7,000 permanent jobs on the site and 10,
Thank you elane. And we do think that this is potentially a game changer for the port. I want to make one minor correction. We have not calculated yet the amount of i f d ass that are captured in pier 70 and it can be the location that we capture the tax increment and it could be that these projects will reach a billion dollars of investment from the i f d actual and that is 3 billion in private investment and you plus up to a billion dollar in public investment. Each of the project the term sheets for these projects are expected to be by the Port Commission by 2013 and then off to the board of supervisors for term sheet consideration and possible endorsement and then each of the project would be subject to their own set of transaction document and is so these are proposals only just for the publics benefit. Lot 337 and pier 48 in the ports exclusive negotiating agreement with sea wall lot sociabilities affiliated with the San Francisco giant, this slide shows is that the area that we
Of the areas that needs attention in mission bay. As the as you heard so eloquently from david port staff isel contempt plating the develop of this park and the earn part of eastern part of city was cut off from bay access and so this is one of the a pennities that we strive to provide and so this development is contemporary plating 3. 5 million square feet of mixed use development and unto a thousand unit of residential and up to one. 7 million square feet of commercial office space with ground floor retail and approximately 2800 to 3,000 Parking Spaces with over 8pm acres of parking space and the proposed plan to to be flexible and this is a Phase Development that will happen as early as 20 scene, 207 in the initial phase and its hard to tell now what the right mix of office vs. Residential is so the zone something proposed to be flexible to respond to different market conditions. This china basin park proposals is one of the reasons why the giants the sea well lot 337 llc. , proposa