From today’s Examiner, “Well-heeled condo buyers, drawn by glorious floor-to-ceiling views of the Bay, are ponying up $1.7 million for a three-bedroom unit in the Watermark tower. But officials hope the spectacular views will eventually include another component — a new cruise ship terminal just across the street.”

“It is estimated that $9 million from the condo sales proceeds will go toward a public park and probably about $20 million will help fund the substructure costs for the terminal and office complex, said John Doll, a project manager at the Port.”

“Despite the success of the Watermark, the cruise terminal and office complex will have to wait until the office market recovers. Paul Osmundson, project manager for the developer, San Francisco Cruise Terminal LLC, said the company is asking for an extension until mid-2007 to begin building the terminal, office and retail complex. The project must begin construction by mid-2008, according to the terms of the deal.”

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