It's still vague, but the America's Cup may yet have a future in San Francisco. In the most interesting news in sports here since the Olympic bid saga, The City is offering development rights along the Embarcadero at Piers 30-32 and 50 in exchange for infrastructure. Long-term lease arrangements have not been worked out, but the local organizers (ie some entity of the BMW-Oracle team) would fund the rehabilitation of the piers which are structurally not much good for anything except parking lots. Plus dredging. The most recent plan was a facility for those nasty, polluting cruise ships. We predict nothing except some uproar over the dredging and an uptick in interest in units at The Watermark. Which suddenly isn't looking so lonely.
· San Francisco plan for hosting America's Cup [SFGate]
· 501 Beale Street, #16D [Redfin]