Companies Compete for Waterfront Development

SAN FRANCISCO-The San Francisco Arts Consortium and a joint venture team of AMB Property Corp. and American International Group Global Real Estate Investment Corp. have submitted proposals to the Port of San Francisco to develop projects within Pier 70′s Dogpatch District.

The area, which lies between Illinois Street and the bay, stretching from Mariposa Street to 22nd Street, is part of San Francisco’s industrial complex- an area that has recently transformed from old industrial space to a hip area swarmed with live-work lofts.

The San Francisco Arts Consortium has proposed to build a 2-block, 150,000 SF arts center on Illinois Street. The nonprofit organization would use 1.5 acres of space, and plans to develop on a fee basis. The joint venture of AMB Property Corp. and American International Group Global Real Estate Investment Corp. proposed to build a 12-acre mixed-use commercial, industrial, maritime and industrial project on the waterfront.

The joint venture project includes a non-profit arts center as well, so it has not been ruled out that the two projects could be combined, turning the competitors into allies.