Major news for San Francisco’s Anchor Brewing, as the company announced plans to build a new facility at Pier 48, part of the Mission Rock Development Project.

Although Anchor will continue to operate at its facility in Potrero Hill, the expansion is expected to quadruple its annual production capacity to an estimated 680,000 barrels a year.

The facility will not only feature production space for brewing, distilling, packaging and shipping, but also for a restaurant, museum and educational facility. Construction is expected to begin in late 2014 with a possible opening in late 2016.

Anchor is now the first major tenant of the Mission Rock Project. Being developed by the San Francisco Giants, it will be a mixed-use urban neighborhood, with eight acres of parks and open space, up to 1,700 residential units, more than 1 million square feet of office space, a major parking structure for the ballpark and residents in the area and up to 250,000 square feet of retail, restaurants and public amenities.

The Anchor project is expected to create about 200 jobs ; overall, Mission Rock will create thousands of construction and permanent jobs.