Giants want a sprawling bayside mini-city

Not long after the Giants announced the nine-figure signing of ace pitcher Matt Cain on Tuesday, Giants President Larry Baer was dropping numbers on the Chronicle’s editorial board that make Cain’s salary look like lunch money at Chile Verde.

The Giants gave the Chron a peek at what they announced to the rest of us on Wednesday: The Giants are ready to drop $1.6 billion to develop a new waterfront village connecting AT&T Park with the larger Mission Bay development at the foot of Potrero Hill.

Up to 1,000 rental units and 1.7 million square feet of office space are possible under the mammoth city within a city plan. An 8-acre park would form the heart of the project, while another smaller “town square” boasting shops and restaurants for more of an around-the-clock feel.

A key piece missing from the deal was any mention of a multi-purpose arena for, say, the Golden State Warriors. After a high-profile joint appearance with the Giants and Mayor Ed Lee last December, the Warriors stepped up negotiations with Oakland, making their current status uncertain.

Baer told the Ex:

“If the Warriors want to come over here, that will be accommodated. But we have to be careful. The Warriors are also talking about Oakland.”

The first portion of the project could open as soon as 2016, with more work to follow throughout the decade.