qualify the development team with the possibility of a long-term reuse of the entire pier. the intent of the solicitation was to find respondents with experience in rehabilitating, developing and operating facilities comparable to pier 38. the ideal respondent would consist of a development team that has experienced with one historic rehabilitation of waterfront structure; two, and ability to identify and secure potential tenant; and three, and ability to maintain real estate projects when completed. with this in mind on march 25th port staff received two very qualified proposals from two very qualified development teams. one was san francisco development partners.

san francisco pacific waterfront partners iii, the company to be formed and to be wholly-owned by san francisco waterfront partners llc. the other team is tmg pier 38 partners. the staff report just said pier 38 but should be tmg, the partnership again formed consisting of tmg partners and premier structures. this afternoon i would like to give both teams the opportunity to present their teams. present the overview of the qualifications of their vision for the rehab of pier 38.

after this presentation, the next that would be an evaluation panel will convene next week to evaluate and score written submittals plus interviews for each of the teams, and then we hope to come back to the port commission september with the staff recommendation based on the scoring of the evaluation panel toward the pier 38 development opportunity to possibly one of these two development teams. i would like to present -- from waterfront partners. following that we'll have michael corubia (sounds like)from tmg partners to give us on the presentation and staff will be here to respond

to any questions that you may have. thank you. >> good afternoon prsident woo ho, commissioners. i am simon -- this is my partner alicia olden (sounds like) put together we'll make this presentation today. thank you for this long-awaited opportunity to present our vision for pier 38, especially thank you to the port staff for all the work they did in putting the rfp together. the development entity, just to clear up names, san francisco waterfront partners iii. pier 38 will be the third --

the same partners that we have had for 14 years. we are passionate about the pier 38 space and the future of the space and the waterfront. we wanted to do this the work that we have done in the waterfront and our journey of reconnecting the city with its waterfront. >> good afternoon. piers -- share the same challenges physically as pier 38. the historical development at the piers received 12 million dollars and start tax credits and is a recipient of multiple awards. the piers are 100% leased and are economically successful and embody the goals of recreation

and maritime preservation that we have set for pier 38. -- provides unique opportunities to increase the value for an underutilized piece of land by combining it with an adjacent private plan. the project will generate 100 million dollars of income to the port and the city. the size and significance do not always correlate. pier 24 brought 27,000 of industrial square feet, and it is now one of the most photographic exhibit spaces in north america. as represented by the past projects we understand the complexities of waterfront atonement. we commit and we deliver. we are working with an excellent team whose members have had extensive waterfront and historic rehabilitation experience. they are all here today. have made an exhaustive study

of every aspect of this project. additionally is proven on past projects we are committed to exceeding the port's lbe goals. without i would like to go into the pier 38 rehabilitation concept. in conjunction with our historic architects -- we have thoroughly scoped and research the site to identify the areas of historic significance to ensure that our short and long-term development plans a privately preserve the historic fabric while exhaustingly analyzing the -- remedies. more and more the waterfront is a people place. in addition the tech boom are derivative of the demand for

this location. pier 38 is at the epicenter of this activity and we are enthusiastic to play a role linking pier 38 with its surrounding context. outlook access is restricted to the embarcadero promenade with no penetration along the pier to the back. pier 38 redevelopment provides an opportunity to remedy that situation. i'll hand it over to smon for the ultimate vision on pier 38. >> first and foremost in our consideration is pedestrian access. it's the number one priority of our plan and shows the long-term access to the bay. public views of the water north of the bridge -- will be maintained.

minimal but necessary vehicular access will be provided, serving the restaurants, cafés, maritime uses and tenants leaving. we responded to the port's objected to quickly retenant and reactivate the pier under ultimate one which will present an imminent. phase 1 shown in the left. we have never been known to conform; we could not resist without pitching you on an entire pier alternative. you will see under alternative two to animate and retanant the

ground floor of bulkhead while obtaining phase ii entitlement. this will be the following uses: 21,000 sq. ft. of office, 7000 sq. ft. of restaurants and acres and acres of public access space. as you can tell i am brushing. public access would run from brannon street wharf to the north on to a wide boating and activity area, south to -- from here it will extend south to pier 40 and west through the

bulkhead made possible we removing a portion of the present ground-floor office space . a view of the public access follows on the next slide. this is a vision for the new public promenade outdoor seating facing the brannon street wharf with a greatly improved dock, providing an exciting opportunity for the public to enjoy the experience of the waterfront either by dining outdoors or messing around in boats or just hanging about. the facility will be upgraded and expanded to include a small craft launch, water taxi and kayak landing, it has the potential of releasing the port of its bcdc obligations of the brandon street wharf. alicia will address the -- for the area.

>> the majority of the phase i users on the ground floor will be dedicating two visitors for restaurants. it allows bulkhead tenants to remain operational during phase ii construction. the tone of the quality of the project as with most projects will be set with public's experience with the ground floor uses. we want to provide a casual beer garden and light dining restaurant and secured a letter of interest from local operators to execute this concept. to the south of the smaller cafés allow for more casual dining.

we will ensure a minimal initial investment in the small areas which will need to be temporarily vacated in phase ii. a view is shown on the next slide. will also allow for more prevalent storefronts in the corridor. we have been working with local chef -- and secured an loi for one of the spaces. it lent itself well to restaurants and cafés as represented in piers 1 1/2, 3 and 5. we have included a modest number of parking spaces for visitor and maritime use and service truck parking but are flexible with working with the port and bcdc in the ultimate

requirements. under alternative one the second floor will be restored and all code violations corrected. -- (beeps) almost done? i desired for the spaces to -- industrial nature of the space and the goals for start reservation land themselves well to an open, flushable layout design i tech tenants. it maintains one level across the entire (indiscernible) we have been working with the former pier 38 tenants and securing them a home at pier 38. they have already signed a letter of intent for all of the phase i office space. the currently occupy 60,000 of office space throughout the city. simon will now discuss phase ii.

>> are we past 10 minutes? >> yeah, like 2 minutes over. >> whatever time we give you have to give to the next. that'll be the limit. it's only fair that both developers have the same amount of time. >> i'm going to rush past alternate ii. it's the whole pier. this would extend the public access space all around this pier; it would -- create at the end of the pier and exciting 5000 square foot public event space. and if he is that public event space would be here, providing

an opportunity to get the public all the way out where they can enjoy the bay and where we can have events all over the city. finally we will work with the port harbor manager and the excited to look into the future feasibility study of transient birthing to act as a gateway to pier 40. this is the first floor office, the economic engine. second-floor office which would be penetrated by skylights; we would be able to do our alternate ii and get this space on the ground floor,

reactivated six months earlier. the benefits of doing alternate ii, are streamlined timing, continues revenue to the port, retanting with a higher quality, higher rents preservation, seamless transition, 17 million dollars in tax credits and thank you very much for listening to us. >> thank you. >> question of procedure. we'll take public comment after both? thank you. >> i would like to introduce michael cobarrubias from tmg partners.

>> i would ask if any of you familiar with this new japanese slideshow presentation style called (indiscernible) -- design for the millennia, baked in add. we'll try to talk a lot about a lot of projects that we have done and then go forward. thank you chairman and members of the commission. i am mike cobarrubais. i'm here with two folks, amie and matt. we'll tell you a little bit about what we have done over the years, we've been in business for about 30 next year. we will tell you what the reason to pick us for this revitalization. oh simon -- ( laughter)

i expected better of you. >> tick tick tick. >> as i mentioned, we are joint venturing with premier structure, we have a great group of architects and all the basics that you would expect us to have. we have been in business as i mentioned for 29 years, and done about four billion dollars worth of transactions. our business is to reposition assets; you're familiar with the southern pacific headquarters building, we have been up another counties, marin, field and the north. we have done demo public private partnerships. we are used to dealing with agencies in the city fathers, usually rank as the most active in san francisco. we did about 2-3 billion

dollars in the last two years. but last year was the pinnacle year, 3 billion in sales, we did this is a small development company, 35 people, privately owned. we pick a project that we think can have the best impact and those are the ones we go after. we decided on this one that we would joint venture with another development group that you know is i said, (indiscernible) from premier structures. as of yet we have not done a deal on piers but you can see in our track record that we have done about anything else. i group includes activities on piers, pier one, marin, the cruise terminal. we have is i said a track record -- this is where you get dizzy --

buildings that have been built throughout the bay area. what we are proudest of in san francisco is the fact that our projects -- you can drive to all of them from silicon valley to marin. they are successful. we have partners that we have done business with including calpers, -- capital, project a return profit to the partners and are good for the community. we are proud of that part of our team and that is what we will be selling if you will in this presentation, our ability to execute for the port. amy who you know, i heard her praised the former presentation. >> hi everybody. i am amy natchez, formerly with the redevelopment agency. this is an opportunity to work

with you under true public/private partnership. we know that the beginning of working on that public/private partnership is understanding what your goals are and what your objectives are in this project and we understand that those are both the immediate reactivation of the bulkhead building that deals with the code repairs, and the pier; you want to plan that this is compatible for long-term use. you will see similarities with simon's presentation and the ultimate goal is the reclamation of this asset for the port and the public benefit. there are three keys to the approach, both short-term and long-term. one is honoring the historic nature of this asset as part of the historic district, pier 38 is a beautiful building and neglected. the second is both short and long-term recognizing the importance of this pier to the maritime history of san

francisco and making sure that we connect both in terms of the historical honoring and making sure there are opportunities for the public. third, this is near and dear to my heart, is understanding the place of this pier within the context of south beach. it's a wonderful community and i spent years of my life developing it. there are great things happening.we spent a lot time working through options in coming up with what are good initial ideas to work with you and your staff and the community and with that i will hand it over to our managing director matt field to walk you through the specifics. >> thank you commissioners. i am managing director at tmg partners the rehab geek.

many of the projects that mike talked about a project that i managed including the one across the street at one market. we have come to this with a real cognizance of what the long-term rehab looks like. you know it is better to know what you're getting into when you start because you will be able to provide a better pathway so that is what we try to do as we look at both your near-term goals of activating the building but also your long-term goals our approach really was to think about the activation of the code compliance. the near-term goal is to get public and to the building but also looking at the most judicious way to put capital back into the building knowing that we will go a major renovation so our approach really was to look at our skill and tech tenants, and we have

done about 17 million of leasing with tech tenants; we are pulling from those projects most of which are rehab projects to look at who would fit in here, how can we reuse the building without spending huge amount of money that we are going to then tear out later as we do the repositioning. our bulkhead revitalization looks at a lesson-based approach; we want to get food on the pier, the ability to put on long-term restaurant improvements and undertaken major renovation time that we really felt that we could more prudently build here sooner and get a project going faster using food trucks so we built

a food pavilion but using food truck so that when we undertake longer-term project we won't have major improvements that we made really key get all the activation vibrancy quickly and deal with less permitting by building a mobile enterprise. we have a dining pavilion on the north side, using parking important for a portion of the site and try not to trigger again seismic upgrades, improvements required by putting more infrastructure into the building we get a large patio fronting onto the waterfront and built office patient in space and judiciously put in improvements as we look at long-term coming back to do more renovation, driving and much more intensive use of the front and active use at the front

than the interim project will do. also with their long-term plans for the immediate activation, full historic preservation, we have done a number of interior center projects including the project across the street and we have also done a number of tax credit deals we really felt that that was the best approach, to try to get the long-term project focused on meeting those goals. so you'll see again focusing back reusing the apron and creating along a long-term project, we won't have any improvements that would need to take out later. we are looking at the long-term objective here, activating the front again with retail and dining, getting the docks back and active on both sides and we see this is a major office opportunity, trying to come in on time and under budget. we see this is as a large

tenant opportunity and have a lot of experience with these types of tenants so we are quite confident that this type of space if it's in our sweet spot. i have done telephone companies, railroad company buildings, a brewery. we had our hands full across the street, and always wanted the opportunity to redo one of the piers, this is a unique opportunity for us to come back and bring our skill set with mixed use office rehab. we are very, very excited about this project. i will turn it over it to mike. >> so i think we view this as an interview of a resume, your job is to pick someone you think we'll get this done from

that you will look at what they have done and we think our resume of what we have done in our nearly 30 years of activity speaks for itself. we have project that you can drive from here and you will find that they are all successful. the opportunity that matt mentioned is the one that is most exciting. it doesn't mean that it's any harder than the things we have done if you have been to the southern pacific headquarters; some of the others you will realize were monumental challenges. we have addressed the first requirement which is to pick someone that you are confident can get it done. second, we have amy here because we wanted to get on your side of the table and get the perspective of someone who has worked for the city and the port-like facilities where she gives us guidance and yells at

us we are not going the right way. we think that this is the expedient way but also a good way to get the pier activated with the intention of the long-term. we did not do this just for the short term. that is our team and our vision and we hope that you will like us. thanks. >> thank you. is there any public comment? hearing none, commissioners? >> thank you both for those presentations. i think they were both great. anyone who knows me knows that i want to see the financials. they both look like great projects. thank you so much. >> i would echo what commissioner bradon said, they

were both excellent presentations. there is no doubt that both teams are extreme the qualified to do the work on waterfront. i don't envy the panel but has to sit and go through a lot more detail in terms of some of the evaluation criteria. i think that today we don't have the time to go through in-depth in terms of what your proposals are. your schemes and concept are wonderful. it's great to see the public access which is important. and activationof the restaurant area.