Founded 7 years ago, Bay Property Group has been providing exceptional real estate, property management and legal service throughout the Bay Area. Daniel Bornstein, Broker for Bay Property Group, said the new office space was necessary due to Bay Property Group’s explosive growth. “We have more than doubled in size and scope in the last 30 months.”

“With Bay Property Group’s relocation, we are making an investment into the continued emergence of this part of Oakland. With the massive Kaiser Permanente hospital development almost complete, MacArthur BART Transit Village in the initial phase of construction and Bay Property Group’s presence, the area is poised to attract further investment and attention,” Bornstein said.

The 6400-square-foot building will provide the home for Bay Property Group’s continued expansion throughout the Bay Area. The new location provides Bay Property Group the opportunity to offer workshops to the community. In addition, Bay Property Group anticipates inviting community groups to access meeting rooms should the need arise. The company’s goal will be to ensure that any individual or entity seeking property investment guidance can rely on Bay Property Group to handle all aspects of the real estate cycle including purchasing, management, legal, strategic planning, post-sale and exchange.

“We are thrilled to become a part of this vibrant Oakland community and we embrace the opportunity to serve Bay Area residents and promote growth,” Bornstein said. “With this 6400-square-foot building inhabited by Bay Property Group, we will be part of the evolution of this area for decades to come.”

About Bay Property Group

Bay Property Group is the Bay Area’s premier commercial real estate, professional property management and residential leasing company. Bay Property Group’s mission is to develop lasting relationships built on trust and integrity, and to help clients gain wealth through real estate. Bay Property Group’s well-trained, professional staff strives to provide the highest level of service, with the goal of exceeding its client’s expectations. With three convenient office locations, Bay Property Group serves the entire Bay Area, including San Francisco, Oakland, Berkeley, Alameda, Fremont, Newark, Union City, South Bay and beyond.

Contact: Daniel Bornstein, Bay Property Group Managing Broker (510) 836-0110 Daniel@baypropertygroup.com http://baypropertygroup.com/

SOURCE Bay Property Group

Article source: http://www.heraldonline.com/2013/05/28/4897489/bay-property-groups-explosive.html

Members of the Metropolitan Transportation Commission and the Association of Bay Area Governments approved going forward with further study of a possible Vehicle Miles Traveled tax on Thursday night, as part of a broader environmental review of several transportation options.

Under a proposal still in its early stages, drivers could be required to install GPS-like odometers or other devices in their vehicles and pay from less than a penny to as much as a dime for every mile driven. The idea could take a decade or more to be launched.

Commission spokesman Randy Rentschler acknowledged such a concept ultimately could prove a hard sell with Bay Area residents, who would likely resist both the travel tax and the government-mandated tracking devices.

“The last thing we’re interested in is where you go and what you do,” Rentschler said Thursday, after the vote. “What we’re trying to do is get people to figure out a way to raise revenue that they could support.”

Mileage taxes already have been subjected to pilot studies in Atlanta and several communities in Oregon and Washington state. Drivers who were given a sum of money and then had amounts deducted based on how much they drove logged fewer miles, according to the San Jose Mercury News ( http://bit.ly/Q4NbSP).

Based on current Bay Area driving patterns, a mileage tax could raise up to $15 million a day, the Mercury News said.

The two regional agencies are considering the tax as part of a broader, 25-year transportation and land-use plan to accommodate the 2.1 million new residents who are expected to reside in the Bay Area and to curb greenhouse gases.

Other ideas floated so far include raising bridge tolls during rush hour, creating more carpool lanes and funding public transportation options in counties north and east of San Francisco.

The draft environmental review is scheduled to be completed in January and the tax, as well as many other alternatives, will be presented for a vote in April, Rentschler said.

Article source: http://www.sacbee.com/2012/07/19/4642827/officials-float-san-francisco.html

The Associated Press

OAKLAND, Calif. — The Black Panther party preached “power to the people,” but in the San Francisco Bay area’s thriving real estate market, the power is in the property.

In this March 14, 2012 photo, a for sale sign is placed in front of the former home of Black Panther Party co-founder Bobby Seale Oakland, Calif. on Wednesday, March 14, 2012. The house where the Black Panther Party got its start in the late 1960s is now on the market after being sold and remodeled into a trendy showpiece. The bungalow once hosted young revolutionaries Huey Newton and Bobby Seale as they drafted their 10-point party manifesto and unloaded their weapons after their nightly patrols. (AP Photo/Bay Area News Group, Jane Tyska)

Realtors expected to close a deal Friday on the Oakland home where the militant black power group was founded in 1966.

Panther co-founder Bobby Seale’s family sold the house in October for $200,000 to real estate investors who renovated the home with chic maple and quartz upgrades, The Oakland Tribune reported (http://bit.ly/GSQhOX ).

After the improvements, the home was put on the market for $400,000 — almost 40 times what Seale’s parents paid for it in 1960.

Seale said he and Huey Newton drafted the party’s manifesto in the dining room.

“We would come in from patrol at night, unload our weapons at my house, and lay them all out across the long dining room table,” Seale wrote in his 1978 autobiography.

The surrounding streets that armed party members once patrolled in the name of black empowerment are quickly gentrifying, with longtime residents like Seale departing for less expensive suburbs.

Seale, now 75, has worked as a draftsman and a carpenter. He made improvements on the house and wanted to do more, but his sister persuaded him to sell.

The house’s dramatically increased selling price was part of “the same crap that got this financial debacle started in the first place,” he said.

But Seale didn’t hold the cutthroat realities of buying and selling homes in the Bay Area against the new residents.

“People move. Humans move. Power to the people, whether they’re black, white, blue, whatever,” he said.

___

Information from: The Oakland Tribune, http://www.oaklandtribune.com

___

March 23, 2012 05:21 PM EDT

Copyright 2012, The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Article source: http://www.ajc.com/news/nation-world/home-where-black-panther-1396570.html

OAKLAND, Calif. — The Black Panther party preached “power to the people,” but in the San Francisco Bay area’s thriving real estate market, the power is in the property.

Realtors expected to close a deal Friday on the Oakland home where the militant black power group was founded in 1966.

After the improvements, the home was put on the market for $400,000 — almost 40 times what Seale’s parents paid for it in 1960.

Seale said he and Huey Newton drafted the party’s manifesto in the dining room.

“We would come in from patrol at night, unload our weapons at my house, and lay them all out across the long dining room table,” Seale wrote in his 1978 autobiography.

The surrounding streets that armed party members once patrolled in the name of black empowerment are quickly gentrifying, with longtime residents like Seale departing for less expensive suburbs.

Seale, now 75, has worked as a draftsman and a carpenter. He made improvements on the house and wanted to do more, but his sister persuaded him to sell.

The house’s dramatically increased selling price was part of “the same crap that got this financial debacle started in the first place,” he said.

But Seale didn’t hold the cutthroat realities of buying and selling homes in the Bay Area against the new residents.

“People move. Humans move. Power to the people, whether they’re black, white, blue, whatever,” he said.

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Article source: http://www.huffingtonpost.com/2012/03/24/black-panther-house_n_1377181.html

OAKLAND, Calif. — The Black Panther party preached “power to the people,” but in the San Francisco Bay area’s thriving real estate market, the power is in the property.

Realtors expected to close a deal Friday on the Oakland home where the militant black power group was founded in 1966.

Panther co-founder Bobby Seale’s family sold the house in October for $200,000 to real estate investors who renovated the home with chic maple and quartz upgrades, The Oakland Tribune reported ( http://bit.ly/GSQhOX).

After the improvements, the home was put on the market for $400,000 – almost 40 times what Seale’s parents paid for it in 1960.

Seale said he and Huey Newton drafted the party’s manifesto in the dining room.

“We would come in from patrol at night, unload our weapons at my house, and lay them all out across the long dining room table,” Seale wrote in his 1978 autobiography.

The surrounding streets that armed party members once patrolled in the name of black empowerment are quickly gentrifying, with longtime residents like Seale departing for less expensive suburbs.

Seale, now 75, has worked as a draftsman and a carpenter. He made improvements on the house and wanted to do more, but his sister persuaded him to sell.

The house’s dramatically increased selling price was part of “the same crap that got this financial debacle started in the first place,” he said.

But Seale didn’t hold the cutthroat realities of buying and selling homes in the Bay Area against the new residents.

“People move. Humans move. Power to the people, whether they’re black, white, blue, whatever,” he said.

Information from: The Oakland Tribune, http://www.oaklandtribune.com

Article source: http://www.kansascity.com/2012/03/23/3509288/home-where-black-panther-party.html

]]> http://homesmillbrae.com/1389/home-where-black-panther-party-founded-flipped-2/feed/ 0 http://homesmillbrae.com/1387/home-where-black-panther-party-founded-flipped/ http://homesmillbrae.com/1387/home-where-black-panther-party-founded-flipped/#comments Fri, 23 Mar 2012 22:36:54 +0000 http://homesmillbrae.com/1387/home-where-black-panther-party-founded-flipped/ Continue reading →]]> OAKLAND, Calif. —

The Black Panther party preached “power to the people,” but in the San Francisco Bay area’s thriving real estate market, the power is in the property.

Realtors expected to close a deal Friday on the Oakland home where the militant black power group was founded in 1966.

Panther co-founder Bobby Seale’s family sold the house in October for $200,000 to real estate investors who renovated the home with chic maple and quartz upgrades, The Oakland Tribune reported ( http://bit.ly/GSQhOX).

After the improvements, the home was put on the market for $400,000 – almost 40 times what Seale’s parents paid for it in 1960.

Seale said he and Huey Newton drafted the party’s manifesto in the dining room.

“We would come in from patrol at night, unload our weapons at my house, and lay them all out across the long dining room table,” Seale wrote in his 1978 autobiography.

The surrounding streets that armed party members once patrolled in the name of black empowerment are quickly gentrifying, with longtime residents like Seale departing for less expensive suburbs.

Seale, now 75, has worked as a draftsman and a carpenter. He made improvements on the house and wanted to do more, but his sister persuaded him to sell.

The house’s dramatically increased selling price was part of “the same crap that got this financial debacle started in the first place,” he said.

But Seale didn’t hold the cutthroat realities of buying and selling homes in the Bay Area against the new residents.

“People move. Humans move. Power to the people, whether they’re black, white, blue, whatever,” he said.

—

Information from: The Oakland Tribune, http://www.oaklandtribune.com

Article source: http://seattletimes.nwsource.com/html/nationworld/2017826749_apusblackpanthershouse.html

]]> http://homesmillbrae.com/1387/home-where-black-panther-party-founded-flipped/feed/ 0 http://homesmillbrae.com/1224/waypoint-real-estate-group-and-gi-partners-establish-partnership-to-build/ http://homesmillbrae.com/1224/waypoint-real-estate-group-and-gi-partners-establish-partnership-to-build/#comments Wed, 11 Jan 2012 17:09:26 +0000 http://homesmillbrae.com/1224/waypoint-real-estate-group-and-gi-partners-establish-partnership-to-build/ Continue reading →]]>

OAKLAND, Calif. MENLO PARK, Calif., Jan 11, 2012 (BUSINESS WIRE) –
Waypoint Real Estate Group, the nation’s leading acquirer of distressed,
single-family properties, and GI Partners, a leading mid-market private
equity firm, announced today that GI has made a significant equity
investment in Waypoint to fund its expansion. The GI investment will
initially enable the acquisition of more than $250 million in single
family rental homes, and is anticipated to ultimately support the
acquisition of more than $1 billion in single-family rental homes over
the next two years.

Since its founding in 2008, Waypoint has successfully acquired nearly
1,000 homes in the San Francisco Bay Area and Inland Empire in Southern
California, and developed a sophisticated proprietary system to
underwrite and manage the portfolio of homes. With the GI investment,
Waypoint plans to launch a national expansion, with the goal of entering
into multiple new geographic markets in 2012.

“Our approach to buying and renovating distressed homes and leasing to
residents who are committed to a path to future home ownership is a
viable solution to our nation’s housing crisis,” said Colin Wiel,
managing director and co-founder of Waypoint. “Our unique approach to
acquiring homes and converting them into rental properties speaks
directly to the Federal Reserve’s recommendations included within its
recent white paper. This partnership with GI Partners ensures we can
take the next step in our company’s evolution.”

GI Partners will invest in Waypoint through GI Partners Fund III L.P.,
which has approximately $1.9 billion of capital commitments from
institutional private equity and real estate investors.

“Waypoint has not only developed an effective strategy for investing in
distressed single family homes, but has built a business that has
positive social and economic benefits in the communities in which they
invest,” said Rick Magnuson, executive managing director of GI Partners,
who has joined Waypoint’s Board of Directors in conjunction with the
investment. “We believe Waypoint has the potential to thrive given the
current market dislocation in single family housing and the sustained
tenant demand for rental property.”

Waypoint employs proprietary technology to identify residential real
estate markets characterized by strong rental demand and an identifiable
pipeline of discounted home purchase opportunities.

The company, after acquiring distressed single-family houses, renovates
each property so they are as attractive and vibrant as possible,
improving the quality of each local neighborhood. The company’s lease
program, Lease Plus Rewards(TM), helps put families on a path to future
home ownership and keep families connected with their communities.

Doug Brien, Waypoint’s managing director and co-founder, added, “GI has
played a major role in building several impressive businesses over the
past decade, and we are eager to work with GI leadership to build
Waypoint into another success story.”

Gary Beasley, an industry veteran who recently joined Waypoint as
managing director, added, “There are nearly four million homes
nationwide which are now either bank-owned or in a serious state of
delinquency or distress. To address this massive problem we are
beginning conversations with lenders to facilitate our “REO-to-rental”
model which can help avoid the dislocation and negative societal
consequences of foreclosures.”

About Waypoint Real Estate Group

Based in Oakland, Calif., Waypoint Real Estate Group (
www.waypointhomes.com )
has created a next-generation real estate company with an innovative
business model to help address the lack of liquidity contributing to the
prolonged U.S. housing crisis. The Waypoint solution centers on buying
distressed single-family houses, renovating them, and then leasing them
to residents via innovative leasing programs which are designed to
provide a path to future home ownership for the residents. A leader in
the emerging REO-to-rental industry since its founding in 2008, Waypoint
has acquired nearly 1,000 homes in California, and is poised to begin an
aggressive national expansion program in 2012.

About GI Partners

GI Partners, headquartered in Menlo Park, Calif., makes investments in
asset-intensive, middle-market businesses and portfolios of assets
located in North America and Western Europe. Key sectors of focus
include commercial real estate, specialty healthcare, IT infrastructure,
leisure and financial services. Across all of its investments, GI
Partners seeks to identify companies with market leading positions and
to establish a partnership orientation with management that drives
operational value creation. GI Partners’ investments have included First
Republic Bank, STAG Industrial, SoftLayer Technologies and Digital
Realty Trust. For more information about GI Partners, please visit
www.gipartners.com .
Reach GI Partners in Menlo Park, Calif. at (650) 233-3600.

Photos/Multimedia Gallery Available:

http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50129884lang=en

SOURCE: Waypoint Real Estate Group

        Allison + Partners
        Marcus Gamo, 415-277-4925
        waypoint@allisonpr.com
        or
        Chris Tofalli Public Relations, LLC
        Chris Tofalli, 914-834-4334
        chris@tofallipr.com

Copyright Business Wire 2012

Article source: http://www.marketwatch.com/story/waypoint-real-estate-group-and-gi-partners-establish-partnership-to-build-single-family-rental-platform-launch-national-expansion-campaign-2012-01-11

]]> http://homesmillbrae.com/1224/waypoint-real-estate-group-and-gi-partners-establish-partnership-to-build/feed/ 0 http://homesmillbrae.com/1084/investors-drive-the-real-estate-market-in-the-bay-area/ http://homesmillbrae.com/1084/investors-drive-the-real-estate-market-in-the-bay-area/#comments Sat, 05 Nov 2011 17:08:49 +0000 http://homesmillbrae.com/1084/investors-drive-the-real-estate-market-in-the-bay-area/ Continue reading →]]>

OAKLAND, Calif. — Real-estate investors have become a potent force in a moribund housing market, accounting for more than one-fifth of transactions in the San Francisco Bay Area over the past 12 months, according to real-estate data.

Despite record low interest rates, many consumers simply don’t have enough confidence in their economic outlook to buy houses. Investors have kept prices from falling further, real-estate experts say.

“The market would be quite a bit sicker were it not for investors snapping up a lot of the properties,” said Andrew LePage, analyst at DataQuick real-estate service. “They account for a meaningful portion of the demand. To the extent to which there’s at least a temporary floor under this market, they’ve helped to build it.”

Almost half of the Bay Area homes purchased on the open market are distressed — either bank-owned foreclosures or short sales being sold for less than the mortgage. Often these properties suffer from deferred maintenance, making them challenging for an owner-occupant.

Investors play a valuable role in buying and rehabbing such properties and then reselling or renting them out, said Jeff Weissman, a Realtor with Highland Partners/BHG in Oakland. “They clear out inventory and then bring it back on the market in move-in condition, thus improving neighborhoods and giving opportunities to first-time homebuyers,” he said.

Not everyone is enthusiastic about investors. Other homebuyers complain that they get muscled out by deep-pocketed investors who can pay all cash, LePage said.

Sellers prefer cash offers because they’re quick, clean and guaranteed to close. Community groups worry about investors turning into slumlords as they manage fleets of rentals.

Some of investors’ bad rap stemmed from boom-time flippers, who capitalized on a rapidly rising market.

“There is a huge difference between speculation and investing,” said John Robin, a Realtor with BHG/Mason-McDuffie in Berkeley. “Until 2009, most (non-homeowners) buying real estate here in the Bay Area were speculating on appreciation. What an investor does is look at what a property will cost now to purchase and operate, and look at the return every month. If one day they can sell it and make a profit, that’s even better.”

He sees more investors becoming landlords, although there are still plenty of flippers.

With prices continuing to soften, more “ordinary people” are getting involved in real-estate investing, since the barriers to entry are lower, Robin said.

“The biggest growth area is first-time, small investors,” he said. “These are people who may have cashed out (other investments) that they want to put into real estate. Some people use self-directed IRA money to buy real estate. Sometimes it’s families who pool their money together or individuals who have jobs and do this to supplement their income.”

The Obama administration implicitly recognized investors’ value in the marketplace this summer when it called for proposals from investors and others on how to buy, rehab and rent out the legions of foreclosed properties owned by Freddie Mac and Fannie Mae.

But investors are not a single monolithic entity. They come in all types, from the mom and pop who buy a couple of rentals to fund their retirement, to the professionals who deal in dozens of homes a year as a full-time occupation.

Pete McDonough of Pleasanton, Calif., had a secure, well-paying job in sales for a technology company.

But three years ago when he realized how many bargain homes were for sale in the Bay Area, he switched to full-time real-estate investing.

“In a horrible job market, I quit a good job,” he said. “I’ve considerably exceeded my previous salary and I haven’t looked back.”

He had dabbled in buying rental properties for some time, but not in California, where high prices meant it was impossible to rent them out for enough cash flow. But the real-estate downturn made the Golden State much more affordable.

He partnered with Andrew Wilson, who had a background in kitchen and bathroom design, and David Rosen, a real-estate broker. The three put up cash and also attracted some investors. Today they operate a $5 million fund.

Most of their efforts go to buying, fixing and flipping, but they also maintain a small stable of rentals.

Article source: http://seattletimes.nwsource.com/html/realestate/2016682817_realinvest06.html

]]> http://homesmillbrae.com/1084/investors-drive-the-real-estate-market-in-the-bay-area/feed/ 0 http://homesmillbrae.com/587/for-values-and-views-san-franciscans-looking-east/ http://homesmillbrae.com/587/for-values-and-views-san-franciscans-looking-east/#comments Thu, 21 Apr 2011 17:37:07 +0000 http://homesmillbrae.com/587/for-values-and-views-san-franciscans-looking-east/ Continue reading →]]> OAKLAND, Calif. — The first quarter of 2011 has brought an increased interest in the luxury condominium homes at The Ellington and sales in 2011 have been setting the pace for prices and sales in the East Bay. The Ellington opened in May of 2009 and has become one of the hottest moving properties in the Bay Area with more than 15 sales concluded since the beginning of 2011 alone. This accelerated level of sales is largely being driven by San Franciscans taking a new look at the East Bay where both remarkable value and the best of urban living can still be found.

Sales associates report greater numbers of San Francisco-based realtors and clients touring The Ellington and making offers on the East Bay’s premiere high-rise condominium building. For example, 35% of walk-in traffic during the first quarter of 2011 lives or works in San Francisco, compared to only 20% in 2010. In a tough real estate market with cautious consumers, The Ellington continues to draw buyers to the property because of its unparalleled value, amazing views, and extraordinary amenities. Few comparable homes in San Francisco are available for under $500,000 while prices at The Ellington start below $300,000.

“The interest in The Ellington being expressed by San Francisco buyers this year is unprecedented,” said Pacific Marketing Associates Vice President Kim Cole. “Home prices at The Ellington reflect the high end product our buyer is looking for; interestingly we’ve noticed that these same buyers are opting for a prime East Bay waterfront location over a more pricey San Francisco address. For example, a home at The Ellington featuring two bedrooms, two baths and a city view recently sold for $405,000. The same home in San Francisco would have sold for $700,000.”

Article source: http://www.sunherald.com/2011/04/21/3045248/for-values-and-views-san-franciscans.html

]]> http://homesmillbrae.com/587/for-values-and-views-san-franciscans-looking-east/feed/ 0 http://homesmillbrae.com/472/as-owner-lew-wolff-waits-for-commissioners-call/ http://homesmillbrae.com/472/as-owner-lew-wolff-waits-for-commissioners-call/#comments Mon, 07 Mar 2011 20:55:55 +0000 http://homesmillbrae.com/472/as-owner-lew-wolff-waits-for-commissioners-call/ Continue reading →]]>

OAKLAND, Calif. (AP) – Oakland Athletics owner Lew Wolff has the spot for a new ballpark all picked out. Funding is in place and the San Jose mayor is on board with Wolff’s plan to relocate his club some 40 miles south.

Wolff has been waiting two years for his old fraternity brother, commissioner Bud Selig, to tell him whether he can go ahead with his proposal to move the A’s from Oakland into Santa Clara County even though the San Francisco Giants hold the territorial rights in technology-rich Silicon Valley.

Selig appointed a committee in March 2009 to evaluate the issue facing the Bay Area teams, yet he has provided no timetable for when he might announce a decision. Thus far it appears Selig doesn’t want to make a decision that would anger the A’s or Giants.

“I think the Giants have a position they believe in and we have a position we think would be great for us,” Wolff said. “Those positions are well known to the commissioner, and he has to decide.”

Understandably, Wolff is getting anxious. He is determined to move the small-market A’s as soon as possible and begin breaking ground on an intimate, privately funded new ballpark, but San Francisco’s ownership has no plans to hand over Santa Clara County – which includes many of the club’s big sponsors. The Giants are coming off the franchise’s first World Series title since moving West in 1958 and first overall since ’54 in New York.

“The South Bay is the single-most compelling part of our fan base,” Giants President Larry Baer said. “It’s densely populated with the strongest representation of our sponsors, the strongest representation of our ticket buyers and the strongest representation of our television viewership and radio listeners.”

Selig – who has repeatedly said the A’s can’t survive financially playing in the run-down Oakland Coliseum they share with the NFL’s Raiders – has indicated in the past he considers territorial rights to be sacred. The A’s and Giants play about 17 miles apart, separated by picturesque San Francisco Bay.

Selig formed the task force to analyze the situation and report back to him, and Wolff believes that process is done.

“The committee is working and I do not know when their work will be complete,” said Pat Courtney, Selig’s spokesman.

In the A’s view, how could the Giants be upset about them moving 40 miles farther away?

The Giants don’t consider it that simple when their South Bay fan base is taken into account. They declined to provide exact numbers of their ticket sales in the South Bay, but acknowledge having contributed financially to the group “Stand for San Jose” – which is supported by San Francisco’s Class-A San Jose club and opposes the A’s moving to town.

“We solidified a fan base and the core is the city of San Francisco and straight directly south those 50 miles,” Baer said. “This is our focus.”

Selig has asked the two clubs not to publicly debate the issue. Many San Jose city officials are on board, with Mayor Chuck Reed a big proponent of professional baseball in the South Bay – and he is on record saying he would welcome the A’s. But if this process takes too long, the A’s risk that he might no longer be in office.

“I’m patiently waiting for the commissioner to rule,” Wolff said. “The committee hopefully has finished its work and Bud is contemplating his decision. That’s all I know. I think it will be sooner rather than later. I don’t think it’s another year off.”

A’s majority owner John Fisher doesn’t speak out about the situation, though Wolff has expressed his frustrations at times.

Wolff, the savvy Los Angeles real estate developer and a fraternity pal with Selig back in their days at Wisconsin, is ready to break ground on a ballpark projected to cost between $400 million and $450 million – if and when he gets the OK to relocate. There are working drawings of the venue and an architect has been chosen. Wolff expects getting building permits to take about nine months, then the actual ballpark would require another two years to complete.

Wolff would like to hear from Selig either way, though the A’s “don’t have a Plan B,” Wolff said.

“I’m in baseball because of Bud, and I believe he’s the best commissioner in baseball by far, even though he’s my friend,” Wolff said. “Baseball wouldn’t be where it is without Bud. I respect his reasoning.”

The city of Oakland in December 2009 unveiled three waterfront sites as potential spots to build a new ballpark for the A’s and ultimately keep the team from leaving town.

Yet Wolff and the ownership group, committed to keeping the team in the Bay Area, feel they have exhausted their options in Oakland after years of effort.

In the past they haven’t been able to find a suitable spot to build and were set to leave blue-collar Oakland and move to nearby Fremont until that plan fell through. Wolff said it cost his group $30 million.

“It takes me an hour and 45 minutes exactly to go through (the paperwork) of what we did in Oakland,” Wolff said of his efforts in the diverse East Bay city.

This isn’t the first time baseball has dealt with territorial rights. The Baltimore Orioles were compensated in a complicated transaction when Major League Baseball bought the Montreal Expos and moved them to Washington, D.C.

Baseball’s other 29 teams purchased the poor-drawing Expos for $120 million in 2002, and the commissioner’s office initially operated the team before it sold. The franchise was moved to Washington for the 2005 season and renamed the Nationals.

In the Bay Area, former A’s owner and well-known businessman Walter Haas – a third-generation San Franciscan who ran the Oakland franchise from 1979-95 – gave the Giants the OK to assume rights to San Jose in a favor of sorts to former San Francisco owner Bob Lurie when his team was considering moving to Florida. The deal basically happened with a handshake and then was approved by baseball’s owners.

Haas’ son, Wally, sold the A’s to the group that preceded Fisher and Wolff: Steve Schott and Ken Hofmann.

The territorial rights have been defined several different times, beginning when former Giants managing partner Peter Magowan bought the team before the 1993 season.

Magowan and his group, which included Baer, quickly made the decision to bring in slugger Barry Bonds – who broke Hank Aaron’s home run record in August 2007 and played a huge role in revitalizing baseball in San Francisco. Bonds’ presence helped the club build a privately funded downtown ballpark.

The Giants are paying for that privately built waterfront ballpark, which opened in 2000 in what has become a bustling area at China Basin. San Francisco drew 3 million fans every year until reaching only 2.8 million in the 2008 and ’09 seasons, then got back to 3 million in its championship 2010 year.

“We felt it (those two years at 2.8 million),” Baer said. “We’ve got to be at 3 million to break even.”

It’s not that the Giants don’t feel for their cross-bay rivals. They had their share of lean years, losing $115 million from 1993-99 at Candlestick Park after Magowan’s group bought the team for $100 million and took over before moving into ATT Park – and drawing Oakland-like crowds of about 9,000 fans a night when things were especially dire.

“We were there before, in this situation,” Baer said. “We know the need to have a modern and fan-friendly ballpark. We were there. It reminds us when we came into the Giants in 1993. The reality is that we have many case studies, including the San Francisco Giants, where a new ballpark was built very close to an old ballpark and became a success story – San Francisco and Seattle to name two in the last decade.”

Now, it’s up to Selig to make his call.

Article source: http://sportsillustrated.cnn.com/2011/baseball/mlb/wires/03/07/2010.ap.bbo.bay.area.territorial.rights.1st.ld.writethru.1667/

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