Golden Gateway Center Found Not Liable in Fraud Case

Glenn Zwang was on Buchalter’s trial team representing Golden Gateway Center.

SAN FRANCISCO—The San Francisco Port Commission awarded the development opportunity for 8 Washington or Seawall Lot 351 at the intersection of The Embarcadero and Washington Street to San Francisco Waterfront Partners II LLC pursuant to an RFP issued in 2008. The developer of the failed condo project was owned and funded by CalSTRS, the California State Teachers’ Retirement System, which spent more than $50 million and 10 years trying to develop the property.

Golden Gateway Center gave San Francisco Waterfront Partners the option to purchase the property if it could obtain the necessary approvals. San Francisco Waterfront Partners was able to obtain approval from the San Francisco board of supervisors. Shortly thereafter, however, community groups began gathering signatures for a ballot measure that would nullify the board’s action. The measure qualified for the ballot and became Proposition C on the November 2013 ballot, which was overwhelmingly rejected.