Announcement of Intent to Award Predevelopment Agreement for Potrero Yard Project

The PNC team is anchored by its sole equity member, Plenary Americas US Holdings Inc. (Plenary). An investor and developer of public infrastructure, Plenary has a long track record of delivering complex infrastructure, project finance and public private partnership (P3) projects. In addition to Plenary, PNC includes the team members listed below, each an expert in one or more aspects of the overall project.

With the evaluation and selection of the lead developer team completed, the SFMTA’s next step is to obtain authorization from the SFMTA Board of Directors for the SFMTA to execute the initial predevelopment agreement (PDA) with PNC.

The PDA phase will enable thorough due diligence, risk analysis, housing feasibility, and early contractor procurement that will integrate innovations in design, engineering, construction approach, financing, and operations. Under the PDA, PNC will work together with the SFMTA and project stakeholders to further refine and advance the design of the project concept.

At the conclusion of the PDA, once the project agreement with all final terms is completed and approved, it is expected that PNC will build, operate, and maintain various components of the project, potentially accelerating construction, improving overall project life-cycle performance, and collaborating with the City throughout to mitigate key project challenges.

The SFMTA Board meeting will be held on November 1, 2022, at 1:00 p.m. Additional information about the project will be included with the SFMTA Board meeting calendar item. The meeting will be held in person in Room 400, Floor 4, at City Hall in San Francisco.

Members of the public may attend the meeting to observe and provide public comment in person or online at ww.sfgovtv.org/sfmtaLIVE. To provide a comment in advance of the meeting, please send an email to MTABoard@sfmta.com by 5 p.m. the day before the meeting or call 415.646.4470.