San Francisco market breaks ground - The Packer

San Francisco market breaks ground

11/07/2013 09:58:00 AM
Mike Hornick

San Francisco Wholesale Produce MarketCourtesy San Francisco Wholesale Produce MarketSan Francisco Wholesale Produce Market board members break ground Nov. 5 on a planned 84,000-square foot facility, part of a larger expansion.The San Francisco Wholesale Produce Market has broken ground on construction of an 84,000-square foot building, part of a larger expansion and capital improvement project.

Merchant board members, merchants and volunteer board members joined representatives of Bank of America and the San Francisco Community Investment Fund at the Nov. 5 groundbreaking.

“Both funders have a component of new market tax credits, a mechanism that’s not widely used,” said Michael Janis, general manager of the San Francisco Wholesale Produce Market. “We’re very pleased that we were able to use those credits. It’s a product of the Treasury Department and a very competitive process.”

“We’re now a California nonprofit governing board, made up of merchants as well as committed volunteers,” Janis said. “It’s a unique model for wholesale markets.”

The larger, three-phase expansion project will add 200,000 square feet to the market’s existing 300,000-square-foot footprint.

This first phase, a two-story building with closed docks — valued in the low $20 millions — is expected to be complete in 10 to 12 months. The builder will pursue Leadership in Energy and Environmental Design gold certification for sustainability features.

The groundbreaking “was a celebration of everybody who’s worked hard to bring the building to this point,” Janis said.

The market signed a 60-year lease last year.

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R Henry    
SF, CA  |  November, 07, 2013 at 11:39 AM


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