![]() The park and transit center were reported to cost $2.4 billion at the time of the structure’s completion in 2018. The space includes a downtown transit center, the park itself and restaurants and other businesses that support San Francisco's controversially rebranded East Cut neighborhood in SoMa. This collaborative profit-sharing initiative is easily replicable and a prime example of how circular business models can fund public spaces and sustainable urban development.A former elevated rail structure turned open space, Salesforce Park, like New York's 1.45 mile High Line, is part of a former transportation hub, now reimagined for modern-day San Francisco. Despite the low percentage given to the project, it provided enough support capital to ensure the park could remain public and enjoyed by all. However, the project share was relatively small, and the property owners would gain most of the profits. Such a redevelopment and feature in any part of a city, regardless of the exact locality, undoubtedly adds significant value to nearby properties.ĭevelopers struck a deal with owners to share a certain percentage of this rise in property value. Except proposed an innovative profit-sharing scheme to help fund the park, encourage cooperation and actively involve nearby residents and developers with the complex.įirst, properties surrounding the park were valued by an independent and well-established third party and compared to future values - projected to five years after its completion.
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