SAN FRANCISCO | Projects: Under Construction, Approved, and Proposed

[simms3_redux]

Financial District - Photos Taken 7-6-13

1. 680 Folsom - Also a former PacBell building, TMG/Rockwood bought from Boston Properties for over $300M, added 2-3 floors, and redveloped using SOM as architects 85% leased to Macy's.com (243,000 SF) and Riverbed Technologies (202,000 SF)



2. 144 New Montgomery - 295,000 SF renovation of the old Pac Bell building Yelp signed on for 110,000 SF at $54 with annual escalations and $60 allowance Luminosity signed on for 36,000 SF Stockbridge and Wilson Meany Sullivan



3. SFMOMA Expansion - Snøhetta designed 235,000 SF expansion. I've heard $$ range from $400M to $600M.

• Video Link

4. 535 Mission - 27 stories, 378 ft, 307,000 SF, LEED Gold, Boston Properties


Source

[img]http://www.socketsite.com/535%20mission%20Street%20Rendered.jpg[/img]
Source



5. Foundry III - 286,000 SF office, Tishman Speyer



6. 45 Lansing - 39 stories, 400 ft, Crescent Heights, 320 units and 265 mechanically stored parking spaces


Source



7. One Rincon Hill North Tower - 50 above ground floors, 541 ft, 299 FOR LEASE units







8. Lumina (201 Folsom) - 37 and 43 stories, Tishman Speyer/China Vanke, 655 condos, 10,963 SF retail, HFF recently arranged $371.7M financing for project from Cornerstone Real Estate, which is an arm of MassMutual

[simms3_redux]

So, quick little recap - we are about to lose the following cranes in the next 1-3 months due to progress/substantial completion:

1) NEMA North Tower

2) AVA 55 Ninth

3) 680 Folsom

4) 5th and Folsom development

5) Linea/1988 Market St

6) Foundry III


We just lost the cranes for:

1) 144 New Montgomery

2) A couple Van Ness/Upper Market developments


We should be gaining cranes for:

1) 45 Lansing - they have made real progress in that hole, this should now be in official construction board rather than proposal

2) 201 Folsom/Lumina - they will have to dig a massive hole which will take a long time, but maybe they'll put up a crane or two in the meantime. this should now also be in official construction board rather than proposal due to financing and official ground breaking - the sponsors are Tishman Speyer and China Venke with MassMutual/Cornerstone financing so this is happening

3) SFMOMA expansion - not sure there will be much of a hole, so crane could go up soon

4) 350 Mission - they almost put a crane up a few months back and I reported that I had seen the base - it's not up still, but hole is getting deeper and this will go vertical within 1-2 months

5) 8 Octavia - this will certainly have a crane, right?

6) Market Center Place - Carlyle's big retail development on Market near the new Hilton going up at 942 Mission

[fflint]

Thanks for the pics, so much is going on right now it's sometimes hard to keep track of it all!

[viewguysf]

Originally Posted by simms3_redux

Mid-Market

5. 174 room Hilton at 942 Mission st between 5th and 6th St...renderings at link below. Looks to be 14-15 floors. This area is actually very cool - snapped some cool pics and there is a great little coffee shop on the alley in the back that was packed.

I think this will be a 15 floor Hampton Inn (one of Hilton's midrange brands). The link has four views of it (the last one is under "credits"), once you get to 942 Mission under Hospitality.

http://www.stantonarchitecture.com/sas.html

[viewguysf]

Originally Posted by scania

I don't know if you guys realize how lucky you are to have so many cool towers and buildings going up!!!

We realize it.

Our already amazing City is being positively revitalized in these areas without detracting from them or destroying anything of value--great versions of infill projects.

[mt_climber13]

What's more, the residents of these new projects will further revitalize the areas which they are built (Mid Market, Soma, Mission Bay), creating an even more vibrant city, thus creating demand for more mass transit, which will lead to more subway and light rail systems. The thing about SF at the moment is that it is in an awkward growing phase- traffic is absolutely maddening during the day. There is so much construction going on blocking traffic and still a car centric lifestyle that is putting burden on the capacity of the roads and highways. According to this article San Francisco has the 3rd worst traffic in the U.S., and is only the 14th largest city! But I think in a decade a breaking point will be reached and we will start to see east coast style transit being planned, as well as many more soaring skyscrapers. I am really liking the progress and the direction that SF is taking- it is actually progressing, and, IMO, it was in a state of regression for a few decades since the late 70's, early 80's, as far as development and politics. I always enjoy visiting the city from my cozy Sacramento. Well, hell, I lived there for 11 years.

[simms3_redux]

^^^I have been trying to list parking spaces with projects so that we get a clearer picture on what we are looking at here in terms of new-age development. I created a little compilation below:

One Rincon Hill - 709 units in 2 towers + pedestal, unknown parking overall, 18 stalls in phase II UC now

Lumina (201 Folsom) - 655 units in 2 towers + pedestal, 655 parking spaces (at least 1 space per unit)...Infinity had 654 units and 659 spaces, Millennium Tower had 416 units and 434 spaces, One Hawthorne has 165 units and 118 stalls

45 Lansing St - 320 units (448 BRs) and 265 mechanically operated underground parking spaces (0.82 spaces per unit, or 0.59 spaces per bedroom)

NEMA - 754 units (est 1,000 BRs) in 2 towers + pedestal, 550 car spaces, 754 bike spaces (0.73 spaces per unit, 0.55 spaces per BR)

AVA 55 Ninth - 273 units, unknown parking, though it is underground

100 Van Ness - 399 units, 118 [underground?] parking spaces (0.30 spaces per unit)

1800 Van Ness (Marlow) - 98 units, 99 parking spaces

1998 Market (Linea) - 115 units, 90 parking spaces

2001 Market - 82 units, unknown resident parking (the plans hint at parking stating that there will be rideshare cars in both resi and retail garage areas), lots of design focus on bikes

25-35 Dolores (near 2001 Market) - 47 units, 40 underground spaces (0.85 spaces/unit)

8 Octavia - 49 units, 24 off-street parking spaces, 26 bike spaces

300 Ivy - 63 units, 35 parking spaces

450 Hayes - 41 units, 20 parking spaces

Icon - 18 units, 14 parking spaces

The Century - 22 units, unknown parking

2175 Market - 85 units, 45 below-grade parking spaces

Venn on Market (1844 Market) - 113 units, unknown parking

1125 Market (proposed) - 150 units, 16 parking spaces

5th and Folsom - 900 Folsom - 282 units, 217 subterranean stalls
5th and Folsom - 260 Fifth - 181 units, 97 subterranean stalls

[WonderlandPark]

Just a question because the renderings are particularly crappy, is the Botta building at SFMOMA a goner? There is no view which I have see that has the original building in it, just the white slab building. If its gone, than I am sorry I missed the closing...that was a great lobby.

[BushMan]

Originally Posted by WonderlandPark

Just a question because the renderings are particularly crappy, is the Botta building at SFMOMA a goner? There is no view which I have see that has the original building in it, just the white slab building. If its gone, than I am sorry I missed the closing...that was a great lobby.

I believe the original Botta building is remaining but I remember reading somewhere that the lobby would be altered somewhat.

I'm sure others will know more...

[viewguysf]

Originally Posted by BushMan

I believe the original Botta building is remaining but I remember reading somewhere that the lobby would be altered somewhat.

I'm sure others will know more...

I'm very sorry that Mario Botta's great staircase and other features are going to be gutted out of the existing building, but it will otherwise remain. It needs to be opened out through the back to connect with the new structure. There are actually numerous renderings that show how both buildings will look from the exterior, but I haven't seen any that show how the original building will look inside.

[Neosoul]

I haven't posted in years and moved cities since the last time I posted. I've been in the Bay Area only about 6 months so I'm still learning the area and the projects going on. I keep hearing about the development going on in the mid Market area, so yesterday I walked from my office in Civic Center to Westfield's Mall.

There is a lot going up in the area and I was surprised to see a crane at the site of the new mall going up on Market. But I still couldn't help but notice how many homeless people and drug addicts are in the area. There are also a lot of adult clubs, reminding me of Times Square in the 1980's. And then it's almost like once you cross about 5th street everything changes to high end fashion.

I guess my question is how is mid Market attracting so many businesses and retail (like the new mall) if the area continues to be so unsightly. Are there any plans to address this?

(and I'm in no way bashing the homeless or drug addicted and fully support social programs to assist those in need).

[fimiak]

Originally Posted by Neosoul

I haven't posted in years and moved cities since the last time I posted. I've been in the Bay Area only about 6 months so I'm still learning the area and the projects going on. I keep hearing about the development going on in the mid Market area, so yesterday I walked from my office in Civic Center to Westfield's Mall.

There is a lot going up in the area and I was surprised to see a crane at the site of the new mall going up on Market. But I still couldn't help but notice how many homeless people and drug addicts are in the area. There are also a lot of adult clubs, reminding me of Times Square in the 1980's. And then it's almost like once you cross about 5th street everything changes to high end fashion.

I guess my question is how is mid Market attracting so many businesses and retail (like the new mall) if the area continues to be so unsightly. Are there any plans to address this?

(and I'm in no way bashing the homeless or drug addicted and fully support social programs to assist those in need).

There are over 4,500 new residential units going up in mid-market, but while everything is under construction, the streets are going to be empty. A lot of the people you are talking about are going to be pushed out by the influx of new residents on the streets. Not to mention the businesses that are flooding the area, including Square, Twitter, Zendesk, Dolby, and Spotify. Mid-market is 1-3 years away from a renaissance. There are several plans that you probably are not aware of that are renovations or new projects that have yet to begin.

Here's a good article about it. http://www.sfchronicle.com/restaurants/article/Restaurateurs-leap-into-Mid-Market-4448875.php

[hruski]

Originally Posted by Neosoul

I guess my question is how is mid Market attracting so many businesses and retail (like the new mall) if the area continues to be so unsightly. Are there any plans to address this?

(and I'm in no way bashing the homeless or drug addicted and fully support social programs to assist those in need).

It's extremely well-located real estate next to lots of public transportation. It's also very cheap relative to its location (because of all the homeless). The area was poised for rapid growth for a long time; all it took was the first domino to drop. That first domino was Twitter signing a lease there about a year ago.

Now the area is about to explode.

[Neosoul]

Thanks for the info. I couldn't access the article because I'm not a subscriber to the Chronicle. However, I think "blighted" is definitely a good adjective to describe the area. It will be interesting to see how it transforms.

[NOPA]

Most the mid-market activity starts around 9th and goes into the Castro. There are still a good couple blighted blocks on mid-market that probably wont gentrify any time soon.

[simms3_redux]

The block between 5th and 6th is happening now, and is benefiting from groups like Carlyle backing large-scale development and the 5th and Folsom apartments, the new Hilton (or Hampton Inn), Spotify's new digs under renovation now at the Warfield building at 6th and Market, etc. The blocks between 6th and 8th is still a different story (Trinity's last phase going on at 8th and Market).

[BushMan]

Originally Posted by NOPA

Most the mid-market activity starts around 9th and goes into the Castro. There are still a good couple blighted blocks on mid-market that probably wont gentrify any time soon.

Wow, I would have to disagree with that statement, there is PLENTY of exciting activity going on between 5th and 9th.

First and foremost you've got the massive Market Street Place shopping area going in right at the epicenter of blight between 5th and 6th. Almost directly across the street you've got the Warfield Building being refurbished, with tenants like Benchmark Capital and Spotify already signed on.

Then you've got the huge Trinity Place apartment complex already half complete at 8th street.

Maybe just as significant are many smaller projects that will make a huge difference, such as the CVS store replacing the check-cashing place in the Odd Fellows building at 7th and Market and the Strand Theater renovation by A.C.T next door to that. Also the Wilson Building renovation at 6th and Market, which will house condos with retail on the ground floor.

This list is far from complete.

Time will tell!

[Neosoul]

Originally Posted by BushMan

First and foremost you've got the massive Market Street Place shopping area going in right at the epicenter of blight between 5th and 6th. Almost directly across the street you've got the Warfield Building being refurbished, with tenants like Benchmark Capital and Spotify already signed on.

Time will tell!

I guess that's what I'm wondering. Market Street Place has no tenants signed, right? Why would any decent stores want to go in there if the area is still so blighted.

[BushMan]

Originally Posted by Neosoul

I guess that's what I'm wondering. Market Street Place has no tenants signed, right? Why would any decent stores want to go in there if the area is still so blighted.

The thing is, even though it's replacing three blighted, boarded-up buildings it's literally just a few steps from the Cable Car turnaround and Westfield Mall. The walk from those places to Market Street Place will probably not have that scary feeling of "running the gauntlet" through a sketchy area.

Maybe I'm just wishful thinking here but I really think this area will really be transformed in the near future. Probably the only thing that could derail it all would be a major crash in the tech sector.

[fimiak]

Its a chicken and the egg situation. Nobody will move to a blighted area if they think it is going to remain blighted, and no blighted area will revitalize if it cannot attract new business/residents.

Thankfully some brave investors stepped forward and now we can all enjoy some tasty omelette.

Also, check out my signature. SF is having a huge growth spurt and will grow by 150,000 residents in the next ~20 years. Thats a full 20% more people than today. It also is not counting the greater number of commuters from the bay region into new office space in SF. The city and Market St in particular is going to keep growing for decades.