If approved as proposed, the redevelopment of the 29-acre Potrero Power Plant site will yield 2,700 units of housing; 600,000 square feet of office space; 700,000 square feet of R&D and PDR space; over 100,000 square feet of retail (including a new grocery); a 220-room waterfront hotel and parking for around 2,600 cars and 1,700 bikes with a dedicated bike land down 23rd Street and 6.3 acres of open space or parks.
But in order to build up to 300 feet in height, as newly massed above, the development team, which includes Meg Whitman and Associate Capital, will need to modify the existing zoning for the site which is currently limited to 65 feet, as it was for the adjacent Pier 70 project.
In addition, permission to demolish around 20 existing buildings on the site, including four historic resources, the plant’s Gate House, Meter House, Compressor House and Station A, all of which have been identified as contributors to San Francisco’s Third Street Industrial Historic District, will need to be granted as well or the overall mass of the development reduced.
While the aforementioned resources would be razed, the project team currently intends to seismically stabilized the plant’s 300-foot-tall Boiler Stack, re-purpose it with ground floor retail space and convert the adjacent Unit 3 power block, both of which are historic contributors, into the aforementioned waterfront hotel.
In terms of timing, the team is still aiming to break ground in 2020 and build in seven phases over the course of 16 years, completing the massive development circa 2036, “depending on market conditions and permitting requirements.”
We’ll keep you posted and plugged-in.