May 13th, 2008
San Francisco Retail Update: Restaurant Lease Heralds Remake of Metreon
A significant restaurant group based out of New York is taking the top floor at the Metreon, according to an article by J.K. Dineen of the San Francisco Business Times. When combined with the changes occuring at 633 Folsom and 307 Third, and with the opening of the Intercontinental, these upgrades to the Yerba Buena area will significantly increase foot traffic and bring a resurrgence in popularity to a part of town temporarily overlooked. Hopefully now the tourism industry can get its way and convince the City to spend some money upgrading the convention halls.
Here is the rest of the story…
New York-based Tavern on the Green’s decision to open a sprawling, 43,000-square-foot restaurant and event space in the Metreon will give the project a significant boost as owners Forest City and Westfield seek approvals for a comprehensive renovation, according to brokers and city officials.
Tavern on the Green said May 6 that it would lease the top floor of the Metreon, which includes a 13,000-square-foot terrace overlooking Yerba Buena Park. Along with the existing Sony movie theater, the tourist-friendly restaurant is likely to draw hundreds of thousands of customers into the Metreon, particularly conventioneers from nearby Moscone Convention Center.
Westfield and Forest City declined to comment on proposals for renovating the property, which will require approvals from the San Francisco Redevelopment Agency. But sources who have met with the owners say the plans involve opening up the struggling property to the street and to Yerba Buena Park with a more translucent, pedestrian-friendly glass skin. The entrance would be moved down to the center of the Fourth Street block between Mission and Howard streets.
Michael Cohen, the mayor’s director of workforce and economic development, said his staff held an informational meeting on the proposed changes last month.
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