San Francisco real estate and development circles are all a-buzz over the recently-revealed plan for the Metreon Center south of Market St.
Last week, San Francisco Mayor Edwin Lee announced the arrival of the city’s first Target store – an announcement which has divided San Franciscans from the get-go and which will probably continue to spark debate until the Target store opens in 2012.
Dedicated advocates of the mom-and-pop business model are horrified. What’s next, a WalMart? Heaven forbid.
While most San Francsicans hold a special place in their hearts for Righteous Indignation (particularly where city politics are concerned), the dissenters seem to have little sway where the Metreon is concerned. The physical and financial benefits are simply too appealing. According to popular local blog The San Francisco Sentinel, the complex is expected to generate
“600 construction and 700 permanent jobs, both with resident local hire goals of 50 percent. The Metreon project is projected to generate $15 million in tax revenue a year through sales and real estate taxes, with more than $4.4 million a year going to the City. “
Furthermore, this isn’t an empty estimate – almost all of the retail space has already been leased. Throwing a fit about that kind of growth is simply bad form.