That has a nice ring to it, doesn’t it? Last Friday (you remember, NYE?) outgoing mayor Gavin Newsom secured San Francisco as the host of the 2013 America’s Cup, one of the biggest and ritziest sailing competitions in the world. It’ll be the 34th year of the race and it will bring in more than $1 billion to the local economy.

Fancy. As the SF Chronicle reports that, “The deal gives race organizers long-term development rights to up to three piers and another waterfront parcel in exchange for paying at least $55 million to shore up aging piers to house race facilities.”

While it’ll be quite a site to see the bay filled with the world’s most advanced racing boats, it’ll be even better to see some much needed improvements to the piers. I’ll tip my hat to that.

For the full article, go here.

Photo credit: Renderings via Skidmore Owings & Merrill