San Francisco, California
As completion guarantor and project developer for the San Francisco Giants’ new baseball stadium, KUD was responsible for all elements of the planning, design and construction of this 40,000-seat venue. KUD’s successful track record and ability to support the funding package allowed the team’s owners to obtain private financing for the stadium without public subsidies – a feat unprecedented in recent sports facility development in the United States.
The new stadium is situated on 12.5 acres of waterfront property and has been the catalyst for the regeneration of the wider China Basin area that includes a new research campus for the University of California, the regeneration of commercial office and retail space, and the addition of several thousand housing units.
THERE IS A WIDE RECOGNITION THAT THIS PROJECT HAS BEEN THE CATALYST FOR REDEVELOPMENT OF THE WIDER CHINA BASIN AREA
(AT&T) Park is the first stadium in the U.S. to be privately financed in 30 years. Without KUD’s development expertise and completion guarantee, it would have been very difficult to achieve our most critical project goals. KUD has been an important partner to the Giants organization.
As we reviewed the financing options for the San Francisco Giants’ (AT&T) Park project, KUD’s Completion Guaranty and its parent company’s financial strength were significant in arranging the financing. KUD’s Guaranty of on-time and on-budget completion assured investors that the ballpark would be operational as scheduled, without cost overruns.