The Oakland A’s proposed 35,000-seat waterfront ballpark and accompanying mixed-use development is expected to cost at least $12 billion to build and inject nearly $1 billion into city coffers, according to documents released Friday.
But city officials were surprised by the A’s new plan, which proposes using tax-generated revenue from the site to fund infrastructure costs.
Justin Berton, a spokesman for Oakland Mayor Libby Schaaf, said in a statement that the proposal “appears to request public investment at the high end for projects of this type nationwide.”
In addition to the ballpark, the project includes 3,000 units of housing, 1.5 million square feet of offices and 270,000 square feet of retail space in Jack London Square.
The ballpark alone, which would be located at Howard Terminal, will cost more than $1 billion. The overall development is expected to inject $955 million into the city’s general fund and generate $450 million in community benefits, if the project is approved and built.
The latest figures were released Friday as part of the A’s development agreement term sheet with the city of Oakland.