Newsom signs legislation to remint
old San Francisco Mint building
The old U.S. Mint building, located on 5th Street and Mission
By Elizabeth Daley, Bay City News Service
October 8, 2006
SAN FRANCISCO (BCN) - The Old San Francisco Mint will
be re-minted after Mayor Gavin Newsom signed legislation this
week to enable historic renovations, Newsom's office announced.
With help from the nonprofit San Francisco Museum and Historical
Society, the Old San Francisco Mint will be turned into a museum
celebrating the history of San Francisco, according to the mayor's
Once complete, the "Old Mint'' will house 74,000 square
feet of new commercial and cultural attractions including a city
history museum, a coin museum and a variety of tourist attractions.
The "Old Mint'' is located at Fifth and Mission streets.
"I can't think of a better use for this historic building,''
Newsom said in a statement.
According to the mayor's office, over the next 18 months the
San Francisco Museum and Historical Society will finish final
plans for reuse of the building and secure all funds to complete
the restoration and redevelopment before the city issues the nonprofit
The city will lease the building for 66 years without charging
rent if the nonprofit can raise the funds it needs to restore
and reuse the building, according to the mayor's office.
Building renovation will take approximately two years and is
expected to cost $83 million, according to the mayor's office.
The mayor's office reports the Old San Francisco Mint was founded
in 1874 as the first branch of the United States Mint in California.
Known as the "Granite Lady,'' the "Old Mint'' is one
of the most important historic structures in San Francisco and
was the only financial institution to survive the 1906 earthquake,
according to the mayor's office.
In 1995, the federal government closed the "Old Mint.''
It was purchased by San Francisco for $1 million in 2003 but has
since been in serious disrepair, according to the mayor's office.
"I applaud the Museum and Historical Society for stepping
up to the plate and proposing something that all San Franciscans
can be proud of,'' said Newsom of the mint's renovation.
Copyright © 2006 by Bay City News, Inc. -- Republication,
Rebroadcast or any other Reuse without the express written consent
of Bay City News, Inc. is prohibited.