KMA played an integral consulting role in the renovation and redevelopment of the iconic Ferry Building. It is one of San Francisco’s most notable landmarks and the “jewel” in the Port of San Francisco’s plan for a revitalized waterfront. The process consisted of:
Feasibility analyses during the predevelopment stage, including analyses of the private sector’s ability to finance
Solicitation and evaluation of developer proposals, outlining key negotiating issues
Advised the port on developer selection (a joint venture between Wilson/Equity Office LLC and Equity Office Properties Trust)
Advised on long-term ground lease and development agreement – including business terms with a guaranteed minimum ground rent plus participation in net revenues for the port
Recommended financial strategies to limit financial risk to the port
The Ferry Building features a 65,000 sq.ft. retail marketplace on the ground floor and 240,000 sq.ft. of Class A office space on the second and third floors. The retail marketplace includes a variety of successful upscale food shops and restaurants. The year-round Ferry Plaza Farmer’s Market is now open four days a week.