Yes, more bearing of bad construction news. The Port of San Francisco has been left high and dry after another private developer backed out of the long, long-planned building of the Pier 27 cruise terminal. Shorenstein Properties is the third to sign onto the deal and the third to jump ship on the project in the last 15 years. Still, the "vision" remains: a $60 mill "moderate renovation" at the terminal with two acres of waterfront open space and storefronts to sustain SF's healthy cruise business. The cruise industry currently ships more than $30 mill into the city economy each year, but any future sector growth will be dependent on the new terminal.The city's only existing terminal, at Pier 35, is small, rickety and, according to the Port, "a time bomb": it'll be totally obsolete in five or so years, and would cost $45 mill to repair. This won't be the smoothest of sailing, people.
· Ship terminal hits snag [SF Examiner]
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