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

[Pedestrian]

TRANSBAY BLOCK 4 (at temporary TransBay Terminal)

Location: Block 4 is located on Howard Street between Beale and Main Streets

Size: 1.04 acres

Developers: F4 Transbay Partners LLC, including Hines, Goldman Sachs and Urban Pacific, along with Mercy Housing of California

How they were selected: F4 Transbay Partners LLC obtained an option in early 2016 to acquire Block 4 from the Transbay Joint Powers Authority as part of its acquisition of Transbay Parcel F at the western end of the Salesforce Transit Center, since the authority owned both sites at the time. In April 2016, OCII approved that agreement.

How much they will pay: “The purchase price is not yet determined as OCII and the development team continue to negotiate a development agreement,” Ben Brandin, acting Transbay project manager, wrote in an email.

Plan: OCII is in negotiations with the developers to build two residential buildings, one a mixed-income tower and one a 100% affordable mid-rise building. There would be a total of approximately 669 housing units, according to Brandin. Townhomes are proposed, too. The 47-story mixed-income residential tower would include a “substantial” number of designated affordable units. The affordable midrise would be a 16-story, 160-foot tall residential building with 192 apartments, plus community rooms, laundry rooms and other indoor amenities, roof terraces, and community-serving commercial spaces, said William Ho, associate director of real estate development at Mercy Housing, in an emailed statement.

Status: It is in active predevelopment, with negotiations on development agreements and designs underway.

When construction could start: 2023-2025

What you need to know: There are overarching affordable housing requirements for the Transbay district that Block 4 is a key part of meeting, said Daniel Esdorn, managing director at Hines. The option to acquire Block 4 and Parcel F offered a way for the F4 Transbay Partners team to work with the city through the challenges of Parcel F, where there are strict zoning constraints, while still producing enough affordable housing in the Transbay district to allow the city to meet requirements, he said. The plan for Block 4 also includes “an ambitious slate of community benefits” that could include things like community-serving retail and taking on elements of the streetscape improvement plans, Esdorn added . . . .

https://www.bizjournals.com/sanfrancisco...ent-temporary-transbay-transit-site.html