hitchiu for their work with me. this is part of a broader strategy that includes redesigning the street and sidewalks for the better market street initiative. that is a streetscape overhaul that will result in a more attractive, walkable, and business-friendly corridor. the project is in its planning phase right now, and it will be implemented from the ferry building two octavia boulevard in 2015. and the street is -- when the street is repaid. public safety enhancements along market street. in 2012, the midmarket bus station will be open on sixth street. we're also going to partner with the community benefit district to expand coverage of the safety ambassadors, in addition to policing the area. in fact, the safety ambassadors, we plan to hire people from the community to be an additional eyes and ears. because as you know, when you

talk to these young technology entrepreneurs and their employees, they're not looking at the st. half the time. they're on their side -- they're not looking at the street have the time. they're on their ipad or phones. but they also want to be safe. cultivation of art and culture in the area through recruitment and galleries and theaters, as well as restaurants and nightclubs. they draw visitors to the area. you are seeing that happen already. that is an exciting part of our midmarket. we have seen a positive effect on the successes in central market already, with companies like twitter. as you know, they are staying in san francisco and leased up 200,000 square feet. this is the largest tech build of the year so far, and they

plan to open in 2012. on what you think twitter and the shorensteins for doing this. $80 million in retrofitting the building. then twitter comes in. one decision, $95 million immediate infusion into our economy right there at ninth and market. i just opened the offices of zen desk, the online help desk. they actually have a cubicle for me with my picture and my wife's picture. they promised that cubicle will be ready if something happens i do not expect on voting day. [laughter] they will grow from 80 to 150 employees right there as central market. i also want to say that these tech companies are not really big job-creators. i have to say, certainly, as you

know already with the contributions to our wonderful city and with the owner of zen desk, in their one night of amassing $5 million to build a children's hospital. we're looking at people joining the great names of levi's and rosenbergs and charles schwab and others to be the new generation to add to our philanthropic corporate citizenship peter i am excited about that. new small businesses along a central market, local -- huckleberry bicycles, at san francisco camera work, deluxe burger is, and off the grid. they are opening towards this year with the help of our office of economic development. the adjoining arts district, blackrock, llc, you know that is the parent company for burning man.

they moved their central offices to central market. they provided 20-foot street sculptures in the area. you have seen the man walked around them. i have. very exciting. we're continuing arts in the storefront for the second year. we're moving in on u.n. plaza the arts market and central parts market. looking forward, we have a central market economic strategies that will be finalized this fall. the strategy provides a road map for deploying city and private resources by prioritizing the policies necessary to bring out the transformation of central market. in terms of small business support, central market cultural district loan fund. that is a city-created $11.5 million pool of low-interest small business loans which companies have already used to start new businesses. the businesses in the arts group recruiting and matching, technical assistance, that

partnership with the website at love this city to launch a website for the posting of locating real estate in central market. the service is free for landlords and tenants and can be accessed through the new website, www.centralmarketpartnership.org . let's talk about our financial district. it remains the hub of our city's finance and professional services. but it is also growing to include the coleen tech sector. san francisco is home to 225 clean tech and green tech businesses. a high concentration right in downtown san francisco. san francisco is home to leading cluster of solar firms, which include more than 45 companies representing the top solar companies, developers, and installers. downtown is already home to suntech, sun run, photo washeo

renewable, and others whose names i cannot pronounced. yet, this past year, that trend has continued. just recently, earlier this week, as you may have heard, i announced a launch of green star, the first green tech accelerator in san francisco. i love that word, accelerator. we do not have time to waste, not only when it comes to job creation, but when it comes to our environment and reducing co2 emissions, we do not have time to waste. we've got to get those emissions down. i cannot think of a better way to do it than to have a clean tech accelerator attract and stimulate the real new ideas that are coming out. the first four start-ups in san francisco are these.

those are the four companies that have started. every three months, they're going to name four new companies to get the advantage of their common not only space, their introduction to angel investors and capital investors. i will be there in december when these companies make their first financial pitch to investors. they have some great ideas and some very serious marketing ideas that we're going to want to support. a company called china synergy. at the conference in july of this year, i announced that china synergy, which is a major chinese solar firm, decided to locate their north american headquarters in san francisco's financial district of this marks the fifth chinese solar company to locate in san francisco. that success for that organization that has been so collaborative, one that gavin newsom started and i get to continue, called china sf, an

ambitious initiative focused on attracting the north american headquarters of chinese companies entering the u.s. market. tioga energy, its solar development company, moved their headquarters from silicon valley to our financial district. their main reasons included the city's strained in financial- services, the robust talent, and of course our cities and matched policy leadership on sustainability issues. and the reasons for this success is clear. san francisco has led the way, with all the environmental policies and aggressively seeking to address the environmental problems of our age. people are taking note of this. san francisco was recently named the greenest city in north america by vehemence corporation an economist. we leave this corporation in carbon reduction, recycling and composting, the adoption of

solar, energy efficiency, and vehicle technologies. water conservation in green building. if that is not enough happening in our financial district, i also want to let you know that we're going to rebuild that all u.s. mint right there it fit than mission, to make sure we have our san francisco historic museum alive and well, so we can connect our history to where we're going as a city. let me speak a moment about our transbay terminal. the transbay terminal and the surrounding district are setting the stage for the next generation of clean, sustainable transportation, and extending downtown further south. in our transit center, 1 million square feet transit center, to accommodate bus and high-speed rail. we want to extend the terminus of caltrain to downtown. over 48,000 direct or indirect

jobs will be created over the next seven years. transbay, there redevelopment plan with a plan that was adopted in 2005. that plan will transform an underutilized section of downtown san francisco, south of market street, into a thriving transit-oriented neighborhood. 2600 new homes, 35 percent of which will be affordable. 3 million square feet of new office space and 10,000 square feet of retail. that is what that is going to be. and folsom street will be the centerpiece of this new neighborhood and will feature widened sidewalks, views of the bay, cafes, and markets. watch out for that. that will be an exciting place for the new part of downtown. in our south of market area, the trans bay terminal will sustain growth in our south of market area, a neighborhood that has

grown with the tech companies that haul it home. there are more than 1500 companies in san francisco, as i said earlier, with the city's tech industry located right in that neighborhood. soma is also home to the convention center, which is a centerpiece of our city's tourism. dream force -- as the beginning of the month, september 1, we held the ninth annual dream force in san francisco. it brought over 40,000 visitors to san francisco on just a four- day convention. $42.9 million of economic activity went on in our city as a result. it was such a large event that, yes, we gave them howard treat -- street. no problem with that. we will be doing the same thing with oracle as well. mosconi. for san francisco to keep posting conventions, it is

critical that we expand the mosconi center's existing footprint. so through exceedingly careful planning, which includes the establishment of a tid, a revenue source for a planned expansion has been created. working with the city and private partners, sf travel is set to begin an ambitious expansion into mosconi east, which will insure vitality of our tourism and convention sector. the tourism industry supports 67,000 jobs and generates over $8 billion a year in our economic activity to the city on an annual basis. ok, how about america's cup? tourism will also be supported by the 34th america's cup, which will bring in breathtaking and short and long term benefits for our city. an estimated $1.4 billion of

economic impact will be to our city. but we are also doing it smartly. we are creating positive legacies that will include projects such as an expedited construction of the james r. herman cruise ship terminal. san francisco hosts 40 to 80 ships a year, each carrying up to 4000 passengers who disembarked and directly support our economy with their dollars. the terminal which will also be used as a convention and events space when the ships are not in the port will prove to be an exceedingly important aspect to our local economy in the long run. the jobs are provided by the america's cup is only the beginning of a series of projects that will transform our city's waterfront. these include improvements in transit options, public access infrastructure along the waterfront viewing areas, and an acceleration of other streetscape and waterfront projects that will help show off

the beauty of this special part of the city. one example that i am very interested in, and i know john and ed at dpw were focused on improving our jefferson street realm. that will be focused on improving this. treasure island. of those spots, treasure island is the city's largest undertaking. as you know, it is located in our day, a former naval station the ceased operations in 1997. 10 years of planning. the groundbreaking will occur early next year, setting the stage for the first residents to appear -- additional residents -- in 2015. at completion, almost 500,000 square feet of retail and adaptive reuse of historic structures will happen.

it will accommodate 8000 homes and 3,000 acres of park and open space. the project will be built over four phases during about 15 or 20 years construction supporting 10,000 construction jobs and the resulting neighborhood will support 3000 permanent positions, a majority of which will be targeted for san francisco residents. park merced is another innovative project that looks to preserve middle-income housing stock while creating economic generation for the city's western neighborhoods. when complete, 1500 red- controlled apartments will be rebuilt. that is an unprecedented protection to ensure the rights of existing tenants. in addition to those 1500 newly rebuilt, 5500 new homes and 300,000 square feet of commercial space will be added

to park merced completely through private investment. new development on the west side is a catalyst investment. parker said -- parker said leveraged which may lead to significant capital transportation investment, including separating the ocean view from 19th avenue and extending the muni metro to davis city bart. we think that is going happen. the san francisco southeast waterfront began its transformation this year as the first phase of the hunters point shipyard can as the project got under way. at full buildup, the neighborhood will include 10,500 homes. 1/3 of the house and will be below market rate, including the rebuild alice griffith public housing development. new companies that are coming

into the hunters point and bayview area -- as you know, we opened fresh and easy just last month on august 24. i opened that stored to the light of so many residents to see their first full grocery store service. this is their second store in san francisco. the first one opened up on june 20. in addition to fresh and easy, san francisco's wholesale market produce is located in the bayview, and that produce market currently houses 30 companies in the 300,000 square foot wholesale market place. a produce market is a source of good jobs that pay well, and they do not require four-year degrees. the market's 200,000 square feet expansion will generate an additional 350 permanent jobs and $500 million in economic impact, keeping and creating

good jobs in san francisco. another economic anchor for the community will be a 3 million square foot innovation district of green office space, clean technology, research and development uses. the district is anticipated to create 10,000 permanent jobs, " that will benefit the bayview hunters point community as well as the city and the region. as mentioned earlier, mission bay. the hunters point innovation is to build upon the success of the city's first innovation cluster, mission bay, which was designed from the ground up to be one of the best places on the planet for companies on the cutting edge of new technology. thanks to the leadership, of course, of near brown and mayor newsom, we have a good plan to place this campus, a major research hospital and private- sector companies are around it, and it has worked. today, we have more than 35 life

science companies in mission bay, including pfizer, the pfizer center for therapeutic innovation, there -- bayer health care, but it is not just limited to biotech. salesforce purchased in mission bay, one of the last parcels in the cloud computing. the competing firms that will propose to build some 2 million square feet of their headquarters in campus right there employing 8000 employees. now, on to even more exciting news. in addition to winning baseball games, the giants are working with the port on the lot that sits across from coleco from the giants stadium. currently a parking lot. but the site will be transformed into a mixed use neighborhood that includes a pedestrian, not

-- pedestrian promenade. hundred 75 rental homes, exhibit space, new retail and up to 1.7 million square feet of office and by a tax base. this side said slightly south of the mission bay appeared filled with historic buildings that tell of san francisco was a industry, maritime pact, including bethlehem steel and the union iron works machine shop. the port will restore 700,000 square feet of historic resources while incorporating 3 million square feet of new office development for tech companies and art organizations. our california pacific medical center. clearly another important project is cpmc. in the next year, i will undertake a $2.5 billion project. project will combine the existing california and pacific campuses into new, seismically

safe hospital on our hill. cpmc will also of hold its commitment to rebuild and operate st. luke's. we are, with the partnership, closely working in other to ensure that this project will provide all the necessary services to all the residents of san francisco, especially the poor and underserved. i expect this project will get built. stock options. for a city working so hard to support innovators and create jobs, there is one area we have to do better on, and that is our business tax system. it is broken when you have policies that punish job creation. that is what our payroll tax has done. that is what some of the old ordnances we have on the books have done as well. we took the first step in june to address this problem when i signed legislation that reduces the payroll tax legislation on pre-ipo companies.

but i am not done yet. i am committed to payroll tax reform. moving away from the payroll tax and working with all of you in our business community as to what should appropriately replace it. we make no illusion about this. this is not going to be easy, but i will need your help and everybody in this room's help from the entire business community as well, and i need your help to work with us. the only way we can do this is if we engage each other about the appropriate replacement, and i want to do that with you. all this talk of economic development and job creation brings me back to one of my biggest priorities as your mayor. and what i will do and what i will continue to do highly as your city administrator and now as your mayor. what all of us do what we want to do here and what we have been doing, we just need to keep

families in san francisco. we need to make sure our workforce, whether they are high-tech, green tech, or in the trades, make sure that people can earn a livable wage, that they can stay here in san francisco, and we will do what we can make sure families remain in the city. we cannot do it alone without our friends in business, without all of you. we need to work together to make sure san francisco remains a unique and diverse and innovative place. with our progress in creating san francisco as an innovative business hub, it is essential we continue to invest in our residents, our businesses, and our infrastructure. without this commitment with our partners in the business sector, we will not be succeeding. i want to assure you that you have a grateful mayor every day that will work with you to get this done. thank you very much. [applause]

>> thank you. so much good news there. john has been planning director for the city and county of san francisco since 2008, having come here after five years as planning director for the city of seattle. all i hear is that was a good higher, so i am not going to get heavily into his biography. he is at work on a series of comprehensive neighborhood plans, city-wide historic resource survey, updates on the general plan and, of course, always ongoing environmental reviews and development reviews. so please welcome the planning director. [applause] >> thank you.

good morning, everyone. that is a tough act to follow. you kind of covered my stuff, and i really appreciate that. i will say, though, that i will apologize to you because i was not planning on presenting the results of the eir for america's cup. i will say and i will maintain my promise to you and the port and others that we are on track to get it done in november and planning commission is scheduled to act on that in december. i think in a record time. i am very proud of that. it is one of those things we do on a daily basis that i know drives many of you crazy. as the mayor said, we're working on a number of initiatives, and i was going to review a couple of those today and perhaps get into a little detail on one that i find very exciting. i also wanted to start with a kind of overview of what has happened over the last 10 years

or so. we have, thanks to my predecessor and a great staff and all my partners and the of the city departments here today, we now have plans in place for essentially the vast majority of the city where new growth is going to happen. that is something that is important from a number of standpoints. it is important to create certainty in our planning process and our approval process. it is important that the communities and planning commission and the mayor and the board understand where we're going and it is important because many of these projects have been approved to the point where the development is fully entitled. specifically, what you see on this map represents over 65,000 new dwelling units, represents 110,000 jobs. about half of that number is fully entitled in three major projects, thanks to the efforts

not only of the planning department, by -- but the san francisco redevelopment agency and the treasure in the development authority. that is an incredible accomplishment that 30,000 housing units can meet demand that we all know we have a housing crisis in the city and that demand can be met much more easily than can be done in the past. in addition, we have plans that we have completed for the four neighborhoods, the eastern neighborhoods, market octavia, balboa park, visitation valley, and other areas representing almost 7000 units, and we have no plans under way for other areas that will complete that cycle. -- we have new plans under way. sentences could pose a growth will happen on about 15% of the land area of the city. that 15% is actually where we have concentrated our planning efforts over the past decade. i can sit here and promise you all that, having these plans approved means that the land use

wars and fights in the planning commission will go away, and we all know that that will happen, of course, in the coming year. this will not and land-use lawyers. this will not in fights. it will not and appeals. but it does give us a level of certainty about where we're headed but at the community level and at the city level, and i think we should be proud of that. i would like to spend a little bit of time talking about the transit center plan, partly because i think it is an incredibly exciting project and partly because we are about to release the eir and had a series of discussions at the planning commission and the board. plan is to create, as the mayor said, a dance, sustainable core for downtown in exactly the place that it should be, and run the largest transit center in the country outside of new york city. of course, i need to thank my partners on this -- the transbay joint powers authority and the san francisco redevelopment

agency here and of course, both mayor lee and mayor newsom are huge supporters, and we appreciate that. the plan will do what was proposed in the 1985 downtown plan, which is to shift the center of downtown to the south around the terminal exactly where it should be. the investment by the public agencies through the tjpa gives us the opportunity to do this for the first time and add to fulfill several objectives. it creates huge new job capacity. our analysis has been showing that given the downtown build out that we have experienced over the last 30 years, we were getting to a place where we had a 10 or 20-year capacity for new office space in the downtown, and this plan helps us increase that capacity for several more years. it creates a dance band -- as i said, perhaps the densest district outside the country outside new york on the terminal that can take advantage a