Ashurst Advises on $735M Financial Close of San Francisco Potrero Bus Yard Modernization P3

"Global law firm Ashurst advised the underwriters on the San Francisco Potrero Bus Yard Modernization P3, which reached financial close on April 17 with a US$735m tax‑exempt municipal bond issuance using a 501(c)(3) structure. The project will replace SFMTA’s century‑old Potrero bus yard with a four‑story, earthquake‑safe, LEED Gold facility able to service battery‑electric buses—supporting 68% more electric buses powered by hydropower—and enables about 100 adjacent affordable housing units. Ashurst’s team was led by partners Andrew Smith and Tristan Robinson."