The Mission Rock development team, a partnership between the San Francisco Giants and Tishman Speyer, today announced it has kicked off leasing and will begin welcoming residents to The Canyon in June.
Located along Third Street, next to the Lefty O’Doul Bridge and bordering China Basin Park, The Canyon is the first building to be completed and opened at Mission Rock. Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of real estate, will manage the building.
The 23-story tower includes 283 apartments, which range in size from studios to three bedrooms. In order to provide much-needed housing to a wider range of San Francisco residents, 102 of The Canyon’s apartments will be available at below market rate (BMR). Reserved for middle-income households, applicants for these BMR apartments will be chosen through a lottery process. The Canyon also incorporates 58,000 square feet of office space, as well as a curated blend of street-level shops and restaurants that will serve as an added amenity for building residents and foster an authentic sense of community.
Designed by renowned architectural firm MVRDV, The Canyon was inspired by Californian rock formations, with a narrow valley running between steep rocky walls that extend all the way up the tower’s western façade. The landscaping creates a lush outdoor environment and serves as an extension of China Basin Park, which is also currently under construction. Combined with an array of modern features, including open-plan kitchens with Italian cabinetry and spa-inspired bathrooms, The Canyon offers an elevated setting unmatched among new apartment buildings in San Francisco.
The Canyon’s amenity program includes a rooftop lounge and outdoor terraces featuring grilling stations, a fire pit and spectacular views of Mission Bay, the Bay Bridge, Oracle Park and downtown. Residents and their guests will also enjoy a full-service fitness center, hot tub, retro-style arcade, bar, private screening room, co-working spaces, 24/7 concierge service and a dining lounge with a demonstration kitchen. The Canyon also features a central gallery lounge area, bar, fireplace room, dog-wash and grooming salon, bike parking and repair, and coordinated parking with EV charging stations.
“We look forward to welcoming the first residents to Mission Rock, a milestone more than a decade in the making,” said Tishman Speyer Senior Managing Director Carl Shannon. “The Canyon, along with all of the other development currently underway, is intended to cultivate a community at Mission Rock that is every bit as vibrant, innovative and inclusive as the city that surrounds it.”
The Canyon is the first of four buildings to be completed during Mission Rock’s initial phase of development. A partnership between the San Francisco Giants, Tishman Speyer and the Port of San Francisco, Mission Rock represents 13 years of city planning and community input to transform a surface parking lot along the waterfront into an exciting new neighborhood featuring stylish rental homes, inspired parks and open spaces, community-serving retail, innovative workspaces, and parking to serve ballpark patrons and the surrounding area.
In addition to The Canyon, construction is nearing completion on Mission Rock’s first office building, a 13-story tower that will serve as Visa’s Global and North American headquarters. Work is also progressing on China Basin Park, a second, 23-story apartment tower, and a commercial building that has been designed to accommodate life sciences research and development. The majority of the first phase of Mission Rock’s development is expected to be completed by early 2024.
To learn more about The Canyon’s leasing opportunities, please visit www.thecanyonsf.com. For information on The Canyon’s BMR availabilities, please visit http://www.thecanyonsf.com/bmr/.
About Tishman Speyer (tishmanspeyer.com)
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 33 key markets across the United States, Europe, Asia and Latin America. Our portfolio spans market rate and affordable residential communities, premier office properties and retail spaces, industrial facilities, and mixed-use campuses. We create state-of-the-art life science centers through our Breakthrough Properties joint venture, and foster innovation through our strategic proptech investments. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 525 properties, totaling 218 million square feet, with a combined value of over $129 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
About the San Francisco Giants (sfgiants.com)
One of the oldest teams in Major League Baseball, the 139-year old franchise moved to San Francisco from New York in 1958. After playing a total of 42 years in Seals Stadium and Candlestick Park, the team moved to the privately constructed, downtown ballpark on the corner of 3rd and King in 2000. The organization is widely recognized for its innovative business practices and baseball excellence having been named in the past decade the Sports Organization of the Year by Street & Smith’s Sports Business Journal, Organization of the Year by Baseball America and ESPN’s Sports Humanitarian Team of the Year. Oracle Park is also the only ballpark in the country to have earned Silver, Gold and Platinum LEED certification for an existing building. Since opening its gates, Oracle Park has become internationally-renowned as a premier venue in the world of both sports and entertainment. On the diamond, more than 64 million spectators have witnessed countless magical moments, including three World Series Championships (2010, 2012 & 2014), the raising of four National League Pennants and eight playoff appearances. The ballpark has also hosted some of music’s biggest acts, including Lady Gaga, Beyoncé & Jay Z, Ed Sheeran, the Rolling Stones, the Eagles, Bruce Springsteen and the E-Street Band, Green Day and Billy Joel.