Revamped Metreon gains momentum - Business Courier of Cincinnati:

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is taking shape, with new restaurants, a theatet and cultural attractions. Several leases are signed at the SanFranciscoo property; other deals are imminent. Owneras and Forest City are closre to starting renovations on theproblematic 360,000-square-foot buildintg they bought in 2006. Westfield declined to offer any specifif updates beyond a2010 completion, but those with signedf leases have been told that Westfield expectse to complete its work by November, giving tenantsx up to five months to build out theifr spaces for an April 2010 grand Tavern on the Green is the project Its plan to open a massive 40,000-square-footr top floor restaurant has been slowedc by the economy and by uncertainties over its flagshi p Central Park lease.
New York City is expected to make a decisionh on the fate of its Tavern inearlyg July, and until Tavern knows if its bid to renews its New York leas e will prevail, the size and future of the businesas in San Francisco are unclear. “If we get renewes in New York, we’ll probablu be in San Francisco the next day to finalizedesign details,” said Michael chief operating officer of Tavern on the “If we don’t (get to renew in New York), it may take but we are … very much committed to beingy part of Westfield, of the Metreon and of Tavern initially expected to pay between $11 millionb and $13 million to build out its Metreon It is likely to rebid those contracts now, as construction costs have fallen sharply.
Many of the new groundx floor tenants are amongSan Francisco’es most successful homegrown fast casual including Bay Bread’s Boulange Best-o-Burger, Mixt Greens and a new Asian noodlee concept from Arnold Eric Wong and the otheer owners of Boulange will open in 1,500 square feet on the prim corner of Mission and Yerba Buena Gardens. Ten Boulangesd are open today, and several more, including a firsrt East Bay locationin Lafayette, will probably open beforw the Metreon location is complete. “We have one downtown locationb already, and it’s been a great success,” said Thomas a partner in Bay Bread.
“We’rd bringing a little bit of what we do in the neighborhoodsx to the Financial District and to conventioneers visitin gSan Francisco.” Best-o-Burger is taking 2,500 square feet next door to Boulanges on the Yerba Buena Gardens side of the Metreon. It will have about 70 seatsd inside and a covered outdoor seating in addition to the largefr public outdoor seating area onthe park. By the time it opends next spring, owner Steve Weber and his partnerxs will likely have two more stores one will open in One Market in abour two months and a third will open near Union Square beforwethe Metreon’s official rebirth.
Over on the Fourth Streert side, next to what will become Metreon’sw main entrance, E&O Trading Co. will open a 2,700-square-foot noodle bar that it hopee will be the first ina chain. Those who have discusses plans with Westfield say that the largerd restaurants and retail locationsx on the perimeter of the ground floo r will open ontothe street. The ground floof interior will have about 15 foodcourr vendors, similar to Westfield San Franciscpo Centre.
While the ground floor is devotedto food, the seconxd floor will be devoted to , which was displaced in 2007 when purchased the buildinh where it performed, is in advanced negotiation to open a 300-seat theater on the Metreon’s seconx floor, above the current Jillians restaurant, said Executiv e Director Quentin Easter. No word was available on the fate of Jillianas or otherexisting tenants.
Other tenantd who have had discussionswith Westfield, but have not signerd include the , whose Executive Joann Edwards, would only confirm that the museum is lookingv for a new space; frozen yogurtf chain Red Mango, which said no lease has yet been the ; and Chronicle Books, which will reportedlyg open a full-sized store on the grouned floor. Another large cultural institutioj is expected to take over another big The 10-year-old Metreon was conceived by Sony and was toutee as the techno-future of shoppinf and entertainment when it openedd in 1999.
Only the movie theatedr ever succeeded, and the distinctive building in a primd location has since been an example of urba planninggone wrong, plaguedx by high tenant turnover and lots of emptt space. Many believe that Westfield andForestr City’s plan to renovate the building and leasre it to local businesses could help the Metreom realize its missed potential. “It’s a very excitint project and will be all of the thingx it should have been fromthe beginning,” said Carok Gilbert, a broker with who has represented a numbee of the tenants who have signee leases.