FAQs

General Project Overview

  • Our proposed Project is comprised of two areas of development: 1) portions of the Seawall Lot 300/301 that is bordered by Jefferson Street, Little Embarcadero and Taylor Street (the “Triangle Lot”) and 2) Pier 45 Sheds “A” and “C”, all as depicted in the following:

     

  • We are still very much in the “concept” stage, which means we continue to evaluate what is appropriate and achievable in light of our ongoing engagement with the Port and our countless conversations with the fishers and other industry people, local businesses, residents and other stakeholders and organizations.  We’ve recently agreed to a non-binding term sheet with the Port regarding the parameters under which a long-term lease for the development site and a LDDA (Land Development and Disposition Agreement) could be structured.  Over the next 12 months, we will complete a CEQA (California Environmental Quality Act) evaluation of the proposed development.  At the same time (i.e., during the course of 2025 and 2026) we will engage in internal research and due diligence, and more exacting planning in which program and design details, an operational plan and more detailed financial information will be developed.  Of course, all of the work we seek to accomplish over the next 24 months will be informed by and based upon these activities and our ongoing intensive community engagement. 

  • Yes, it is.  Even though we’re still in the very early stages of transforming our concept into a detailed plan, we’ve partnered with some of the world’s leading construction, design, engineering, entertainment and operational experts in developing our early cost and financial performance estimates.  Our team has collectively nearly 100 years of experience in the successful design, development, financing, operation and growth of these kinds of projects and other businesses of this scale, as well as a successful track record of development specifically at Fisherman’s Wharf.  We’ve already received financial commitments from investors who’ve reviewed the project’s early forecasts.  Our plan will be subject to multiple layers of rigorous financial review by the Port and the Board of Supervisors, as well as independent financial firms, before final approval will be given.  And in any event, if the project is at some point found to be not financeable, then there will be no project.

  • This site presents a unique and exciting opportunity to further the great legacy of Fisherman’s Wharf through a celebration of and investment in all things fishing and seafood.  For over 75 years, Fisherman’s Wharf has been one of the most important and iconic destinations for tourists and local visitors alike.  Fisherman’s Wharf is currently in a crisis, and it has implications for the serious challenges plaguing the larger City of San Francisco.  There is a great opportunity for strategic reinvestment and the creation of new reasons to visit Fisherman’s Wharf.  While the public sector has made several strategic investments in the neighborhood, (including the Port’s investment in Pier 45 Sheds B+D in the mid‐1990’s, Hyde Street Harbor in 2001, Pier 43 rehabilitation in 2012, and the city’s Jefferson Street improvements in 2013 and 2021), other than the construction of Boudin’s flagship facility in 2006, very little private sector investment of scale has occurred over the last three decades.

    The stress of under‐investment is evident in the condition of buildings and businesses located throughout the neighborhood. The restaurants along Taylor Street, one of the most visible and identifiable elements of Fisherman’s Wharf, are a prime example. A decline in these restaurants started pre‐pandemic, accelerated during the pandemic, and has resulted in most of the restaurants remaining closed or operating at significantly reduced capacity, with some owners even opting to buy out of their existing leases rather than investing in reestablishing their businesses. Now the economic malaise affecting Fisherman’s Wharf has spread to the adjacent commercial and retail outlets populating Jefferson Street, exemplified by the recent closure of Madame Tussaud’s Wax Museum after 60+ years of operation.   The neighborhood risks getting stuck in a downward spiral that will be very difficult and costly to reverse. While tourists may have felt compelled to visit in the past, the city can no longer afford to take for granted that they will continue to come without new investment and attractions added in the immediate future.

  • Our project is about helping fight the decline of commercial fishing at Pier 45, celebrating the past and future legacy of Fisherman’s Wharf, and giving visitors multiple reasons to visit the area to celebrate the industry, the Bay and an authentic San Francisco experience.  Two of the three attractions proposed for Pier 45 are specifically intended to build a connection and identity between visitors and Pier 45’s vibrant commercial fishing industry.  We’ll also support the industry by creating multiple outlets to showcase and sell locally sourced fish, including a best-in-class seafood market, “off-the-boat” sales points and upwards of twenty (20) locally operated food stalls that will sell only seafood on a “takeaway” basis.  We seek to restore fisher support services (i.e., “chandler” services) to Pier 45. Finally, we’ve guaranteed that the physical space allocated to fishers’ gear storage, staging, parking and related industry use will be protected and improved for decades to come.  With our project, we are specifically “betting” on the long-term success of the commercial fishing industry at Pier 45.  If the commercial fishing industry does not thrive, our project will not succeed.

  • We are being very careful in our planning to avoid visitor disruption to our working fishers.  The industry has thrived despite Fisherman’s Wharf’s historically immense visitor draw (i.e., 15 million people already visit Fisherman’s Wharf every year and nearly 19 million visited the Wharf annually before the pandemic).  Still, our concept is to direct ALL visitor traffic to the eastern apron of Pier 45.  We will create structural barriers that “wall off” the existing industry-occupied buildings (“sheds” A, B and D) from the proposed visitor areas, and we’ll commit other resources to ensure the fishers at Fisherman’s Wharf can go about their important business without distraction.  Also, nearly all of the attractions and public space will be built on a second floor area on the eastern half of Pier 45; this will further ensure that while the general public may have the opportunity to observe from afar the industry in action, we won’t run the risk that they wander into the working industrial areas on the pier. 

Evolution

Engagement

  • As part of our Exclusive Negotiating Agreement with the Port, we’ve implemented a community outreach plan to guide our engagement and collaboration with key stakeholders as our proposal continues to evolve.  Over the past two years we’ve had well over a hundred meetings with interested parties as varied as fishers and crabbers, local businesses, restaurants and neighborhood organizations, tourism and hospitality groups and environmental associations.

    On balance, stakeholders have supported our objectives of protecting and celebrating the fishing industry, enhancing public space and access to the Bay, and economically revitalizing Fisherman’s Wharf (and by extension, the surrounding neighborhood) through purposeful investment.  At the same time, these interested parties have provided invaluable insight and critical commentary that’s caused us to substantially modify our concept from what we originally suggested in February of 2023.  We’re committed to this kind of ongoing engagement with the public to help drive the transformation of our vision into a more defined and detailed plan – we believe that rigorous community engagement like this will help us arrive at an optimal plan. 

Local

  • Our plan to promote local business and provide access to all local communities focuses on the areas of Contracts, Leasing, and Parks/Open Space.   We first expect to leverage the hundreds of millions of dollars of expected predevelopment and construction costs to expand workforce development and related opportunities within local communities and companies.  Similarly, the food hall will be comprised of upwards of 20 prepared seafood stalls featuring a range of local vendors who will showcase a broad array of curated preparations for seafood consumption on a takeaway basis.  The experiential park and events center will also feature far-ranging programming and will have a variety of spaces available for discounted rental to ensure access by under-resourced groups, non-profits, schools and other community organizations.  Finally, our Project will expand the public open space along the Little Embarcadero and adjoining lot, as well as on Pier 45, to create a public plaza and various public gathering points that will provide enhanced access to (and opportunities to enjoy) the Bay.  We intend to use a variety of methods to ensure a welcoming and accessible environment for all in these newly created spaces. 

Productivity

  • A comprehensive 10+ year study has already been conducted by the Port, which culminated in the April 2023 amendment to the Port’s 1997 Northeast Waterfront Plan.  This public plan document recommends objectives and policies designed to contribute to the waterfront’s environmental quality, enhance the economic vitality of the Port and the City, preserve the unique maritime character of the Port, and provide for the maximum feasible visual and physical access to and along the Bay.  We are happy to state that all aspects of our concept have been designed to specifically advance the objectives of the Port’s comprehensive plan.

    Our commitment to the economic vitality of the entire neighborhood is shown in the substantial dollars we’ve already invested in re-opening businesses along Jefferson Street (outside of our project’s development area), businesses that had been dormant since the pandemic.  We welcome and encourage other parties to invest as we have in these outlying vacant businesses, and we invite them to meet with us to explore ways that our respective efforts and investments can support the other.  Of course, if there are ways our project can account for or otherwise help the efforts of existing local businesses or property owners to maintain or grow, we encourage them to reach out to us directly to see how we may help.

  • We’re happy to say that Musée Mechanique will hold onto its existing space as part of our concept.  Musée Mechanique is an important part of San Francisco history and lore, and is a unique attraction that will provide a differentiated experience for anyone who visits. It is an exciting part of our plan.

  • No. Our project is primarily about fishing and seafood, and information, recreation and entertainment that relates to fishing and seafood.  We propose three separate attractions for the pier, two of which (the Seafood/Fishing Exhibition and the Immersive Experience) will educate and provide visitors access and connectivity to Pier 45’s vibrant commercial fishing industry.  In fact, the Fishing Exhibition will include a fish processing facility behind glass that will provide entertainment and education around the fishing industry.  The third Pier 45 attraction will host small concerts but will primarily serve as a showcase for local performance and visual artists, schools and other related local performance and artistic groups.  Our project will not feature amusement-park-type rides or activities.

  • Pier 39 offers a distinct and highly successful visitor experience that features an intensive array of retail shops and other merchandise outlets, restaurants and varied amusement attractions that represent an important part of the San Francisco tourist experience.  We seek to complement what Pier 39 offers, while eliminating the unfortunate disconnection that currently occurs between Pier 39 and Aquatic Park/Ghirardelli Square.  Our project is all about fighting the decline in commercial fishing at Pier 45 and restoring the access to (and the identity with) seafood and commercial fishing that Fisherman’s Wharf was once known for the world over.  We seek to create community gathering points that revolve around a best-in-class seafood market and related seafood “takeaway” stalls, and a collection of thoughtful immersive experiences that are steeped in the past and future legacy of Fisherman’s Wharf.  We believe these unique attractions and points of interest will restore the continuity of the Northern Waterfront visitor experience between Pier 39 and Aquatic Park. 

Economic Recovery

  • We believe our project will have the opposite effect.  Even if you think there will only ever be a fixed amount of visitor spending at Fisherman’s Wharf, our project does not include retail shops, activities or restaurant experiences that will take business from the retail, entertainment and other commercial spaces on Pier 39, Jefferson Street or the surrounding area.  Our project rises and falls on seafood and the commercial fishing industry, and offers visitor experiences that will complement, and not compete with, the retail stores and tourist-focused activities found elsewhere in the Northern Waterfront.  Over one-third of our investment will be dedicated to the creation of community gathering spaces and other public realm improvements. But more importantly, our project will restore Fisherman’s Wharf to its prior luster and prominence, and will attract more local visitors, more tourists, and more spending.  It will restore an important area that connects Pier 39 to Aquatic Park and will ultimately benefit ALL businesses in the Fisherman’s Wharf area by increasing sales and jobs, enhancing quality of life and creating a positive “halo” effect on all surrounding business and real estate values. 

Traffic and Parking

  • There are 15 million annual visitors to the Fisherman’s Wharf area today, and that number was closer to 19 million before the pandemic.  Our early research shows that the area parking facilities are more than enough to accommodate visitors at what historically had been California’s second largest tourist attraction.  Today, we’re seeing that most of the area’s parking garages are underutilized.  Even so, we intend to build new parking capacity on the ground floor of Pier 45’s new structure, which will be dedicated primarily to our commercial fishers and for use by mobility-challenged visitors.  Also, we intend to build out rideshare drop-off areas and explore enhanced access to the many public transportation options in the immediate area to further accommodate what we all expect will be increased visitation to Fisherman’s Wharf.  Although parking is absolutely a concern that we need to continue to account for in our planning, we do not believe this will be a “stress point” for the area once our project is completed.      

  • The scaffolding, pile driving and other invasive work required to install the SkyStar ferris wheel, as an example, did not appear to measurably impact any of the immediately surrounding businesses.  Even so, we all have to assume that the construction work contemplated at this early stage will not happen without some disruption.  We are therefore committed to working with all businesses that may be impacted by our construction to minimize disruption – and there are many creative ways to do that.

    We all have to keep in mind that Fisherman’s Wharf is in a state of serious decay, and that investment and rebuilding is not only inevitable but is a matter of true urgency and needs to happen today.  In the end, all businesses and property owners in the Fisherman’s Wharf area will substantially benefit from the completion of our project, and we are absolutely committed to working with all impacted parties to ensure that any disruption during periods of construction is minimized.    

Construction