After almost three years of planning, the overhaul of San Francisco's Pier 38 has been stalled due to poor seismic conditions that make the original project financially unfeasible. TMG Partners has pivoted their strategy to include office and retail space, while now leasing a portion of the bulkhead's shed area to a tech company focused on self-driving truck research and development. This shift likely means the full redevelopment of Pier 38 may take several more years to complete, causing delays in revitalizing this once bustling waterfront area.
TMG Partners emphasized speed in their proposal for Pier 38's redevelopment, but poor seismic conditions have rendered the project financially infeasible, leading to a new plan.
The shed area will now be leased to an unnamed company specializing in R&D for self-driving trucks, with potential ties to Otto, previously associated with Google's teams.
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