The San Francisco Board of Supervisors has approved the creation of the Moscone Expansion District (MED), which will provide the majority of funding for the expansion of the city’s Moscone Center conference facility.
The expansion of Moscone Center, estimated to cost $500-million, will add approximately 350,000 sq. ft. to 400,000 sq. ft. to the convention center, including at least 80,000 sq. ft. of contiguous exhibit space, needed for attracting larger conventions.
Currently, Moscone Center hosts 1-million visitors each year and generates more than $1.6-billion in visitor spending but, in a news release, Joe D’Alessandro, president and CEO of the San Francisco Travel Association, says, the expansion is essential because “San Francisco has already lost meetings representing $2.057-billion in direct spending as a result of space limitations.”
Construction is expected to begin in November 2014, with completion targeted by 2018.