Posted Apr 7, 2026, 4:33 PM
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你的媽媽
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Join Date: Jan 2012
Location: The Bay
Posts: 11,554
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This article mentions 77 Beale but provides no updates as to the current status.
Quote:
S.F.’s next skyscraper push tests a risky bet: Offices can still lead downtown’s comeback
By Laura Waxmann, Staff Writer
April 7, 2026
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Across the Financial District, a handful of builders are beginning to move in parallel, pushing forward their own visions for new office towers in a consequential race to capture the city’s next growth cycle. Ray Lawler, head of Americas with Hines, said that over the five decades in which the development firm has invested in San Francisco it has seen the market “fluctuate and ultimately recover stronger each cycle.” Last year, Hines pivoted from longstanding plans to transform a corner of the former PG&E headquarters near the Embarcadero, a multi-building campus also known as the Matson Block, into a residential tower at 77 Beale St., proposing instead to construct the West Coast’s tallest office tower at that address.
“The city is showing meaningful signs of recovery: Companies are returning to offices, emerging sectors like AI are fueling leasing momentum and investment activity downtown is strengthening,” Lawler said. At 1,225 feet, Hines’ planned tower requires a height exemption from the city. The project also involves the broader redevelopment of the block, with plans to restore historic buildings, add ground floor retail and convert smaller structures into housing. Hines said it expects to have its entitlements at the end of the year, at which point it will select an architect. But before Hines can start building its massive tower, it must first demolish the existing 30-story, 1970s-era tower on Beale Street — a costly and complicated endeavor that will require navigating tight city streets, strict regulations and high labor costs. The developer purchased the larger project site from PG&E in 2021 for $800 million — a basis that will weigh on the project's viability. Hines did not respond to questions about the status of its conversations with potential tenants.
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https://www.sfchronicle.com/sf/article/downtown-office-tower-race-22162316.php
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