A decade in the making, the San Francisco Giants’ Mission Rock development is up for approval by the Board of Supervisors next week.

The 28-acre project will transform a surface parking lot just south of Mission Creek Channel across from AT&T Park, on a site referred to as Seawall Lot 377, into more than 1,000 housing units along with office and retail space.

The Board of Supervisors Land Use and Transportation Committee heard the development agreement with The City on Monday, and the board’s Government and Audits Committee on Wednesday.

The full board will vote on the deal Tuesday. The California’s State Lands Commission would also need to approve of the development.

“This project has been 10 years in the making,” said Supervisor Jane Kim. “What makes me most proud of this project is that it is the first project and the first developer that committed to building 40 percent affordable and middle-income housing. We know that we have a housing crisis, but it’s not just a housing crisis, it is an affordability crisis.”

The project is expected to include 1,327 housing units, of which 526 units, or 40 percent, would be affordable housing, according to the City Controller’s Office economic analysis report.

The affordable housing would be available to those earning a range of incomes, from 45 percent of area median income to 150 percent. Sixteen percent of the total affordable units would be for those earning 90 percent of the area median income or lower.

The more than $1 billion construction project will be paid for through a combination of developer capital, bond proceeds, development rights payments, annual special taxes and property tax increases generated by the development and Port capital.

The project is also expected to create more than 1.2 million square feet of office space, nearly 250,000 square feet of retail space and about 200,000 square feet of light industrial space. There will also be eight acres of parks and the adjacent Pier 48 would undergo a rehabilitation.

Building heights will range from from 90 feet to 240 feet.

Board of Supervisors President London Breed, who along with Kim is among the eight mayoral candidates in the June 5 election, also praised the development Wednesday.

“It represents a significant opportunity to transform an underutilized portion of our waterfront into a vibrant community,” Breed said. “Just like Pier 70, large waterfront sites like these are critical to accommodating our city’s need for more housing and more affordable housing.”

The project is expected to create an “estimated 13,500 temporary construction jobs and 11,000 permanent jobs on- and off-site,” according to the development agreement.

While the project has received much praise, Supervisor Sandra Fewer raised one concern Wednesday about the lack of public schools in the area. Fewer said there is one school being planned by the San Francisco Unified School District in the area, but its size is inadequate and its opening date uncertain.

“Currently there is no public school in Mission Bay,” Fewer said. “The site that is already slotted for the school can hold a maximum of 500 children. We know that with this development we are already over the 500 student mark.”

“How do we think that we are going to actually educate the children that live in the area,” Fewer said. “If you are building two and three bedroom units this is something that should be foremost on your mind because your residents will need a place they can properly educate their children.”

Despite her concerns, Fewer voted to advance the development to the full board for approval.

Joshua Sabatini

Joshua Sabatini covers City Hall for the San Francisco Examiner. Reach him at jsabatini@sfexaminer.com.

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