SAN FRANCISCO | Salesforce Tower | 1,070 FT | 61 FLOORS

[Roadcruiser1]

Some news as of late.

Boston Properties takes control of Transbay Tower, S.F.'s tallest building
J.K. Dineen
Mar 19, 2013

Boston Properties has replaced Hines as the lead developer of the Transbay Tower, which will be San Francisco’s tallest building.

Hines, which for six years has been the public face of the proposed 61-story tower, has sold 90 percent of its remaining interest in the 1.4 million square foot Transbay Tower development to Boston Properties. In a Securities and Exchange Commission filing, Boston Properties stated that Hines has elected to reduce its ownership interest in the joint venture from 50 percent to 5 percent, leaving Boston Properties as the 95 percent owner of the site.

The agreement comes as the Transbay Joint Powers Authority is preparing to sell the property for $190 million to the developers. The money will be used to help pay for the $4 billion Transbay terminal project in the south financial district. The land transfer is scheduled to close March 26st, with a March 27th public ceremony celebrating the transaction.

In October Boston Properties announced that it had bought a 50 percent stake in the tower, essentially replacing MetLife as equity partner. Boston Properties is currently working on two other San Francisco developments: a renovation of 680 Folsom St., which has been preleased to Riverbed Technology and Macys.com; and 535 Mission St., a speculative tower that Swinerton Builders is started construction on this month.

TJPA spokesman Adam Alberti said the agency has no powers of approval on the change in the joint venture agreement. "It's been communicated to us that Boston Properties is taking a 95 percent controlling interest," said Alberti.

Bob Pester, a senior vice president and regional manager of Boston Properties, is now the lead contact on the development team, said Alberti.

http://www.bizjournals.com/sanfrancisco/blog/2013/03/change-at-transbay-tower-boston.html

Also here are some videos to show what the new skyline would look like for the reply below.

• Video Link

• Video Link

[NYguy]

http://www.marketwatch.com/story/boston-...transbay-transit-tower-parcel-2013-03-26

Boston Properties and Hines Close on Record Land Sale for Transbay Transit Tower Parcel
Ceremonial Groundbreaking of the West Coast's Tallest Tower Scheduled


March 26, 2013

Hines and Boston Properties announced today that it will ceremonially break ground to celebrate the acquisition of 101 First Street, a land parcel sold by Transbay Joint Powers Authority for approximately $192 million.

At 1,070 feet, the tower is set to be the tallest on the United States' West Coast and the seventh tallest in the U.S., edging out New York's Chrysler Building. The project was initiated in 2007 and received planning approval in October of 2012. Construction of the 1.4 million-square-foot tower could begin as early as summer 2013 with project completion in 2016, just before the opening of the new transit facility.

A ceremonial groundbreaking celebration is scheduled to occur on March 27, 2013 with such dignitaries in attendance as: San Francisco Mayor Edwin M. Lee; TJPA Executive Director Maria Ayerdi-Kaplan, Chair of the TJPA Board and Supervisor Jane Kim, along with other board members, as well as Boston Properties Chairman and CEO Mortimer B. Zuckerman; and Hines Chairman Gerald D. Hines.

"The sale of the Transbay Transit Tower property is a transformative moment for San Francisco," said Executive Director of the TJPA, Maria Ayerdi-Kaplan. "The Tower and the Transbay Transit Center will stand at the center of one of the most forward-looking transit-oriented developments in the world today."

Zuckerman commented, "We are dedicated to making this an iconic tower that will stand as a landmark for all who travel to San Francisco and add to its appeal as one of our most sought after 24/7 cities in the U.S. on top of being the technology capital of the world."

Hines Senior Managing Director Paul Paradis notes, "Tenant interest in the financial, professional services and tech sectors has been extremely high. Now that we are closing on the land and moving full speed ahead with the design, I'm confident that discussions will progress into leasing quickly. Transbay will be a new icon for the city and state, but also a beacon for a progressive anchor tenant looking for the finest, sustainable office space."

[peanut gallery]

There was a time I would have been really excited about that news. Unfortunately, I've been so disillusioned by the degradation of the terminal and tower that it's just another project to me now. Frankly, it feels like this entire proposal has been one giant bait and switch, but I doubt Hines planned this from the start. From the reduced price (down to basically what Rockefeller/SOM pitched), to the reduced height, to the dopey slits, to the terminal itself maybe losing its glass curtain wall, it seems like everything I found interesting that was originally promised has been stripped away. I'm far more excited about 50 First, 190 Fremont and just about everything going up on Rincon Hill than this.

Oh well. I won't belabor the point because I don't want to be the guy who constantly complains about a given project. I've said my piece and I'll try not to comment about it anymore. Hopefully I'll be proven wrong in the long run, and there are plenty of other projects to keep me occupied in the meantime.

[viewguysf]

Originally Posted by peanut gallery

There was a time I would have been really excited about that news. Unfortunately, I've been so disillusioned by the degradation of the terminal and tower that it's just another project to me now. Frankly, it feels like this entire proposal has been one giant bait and switch, but I doubt Hines planned this from the start. From the reduced price (down to basically what Rockefeller/SOM pitched), to the reduced height, to the dopey slits, to the terminal itself maybe losing its glass curtain wall, it seems like everything I found interesting that was originally promised has been stripped away. I'm far more excited about 50 First, 190 Fremont and just about everything going up on Rincon Hill than this.

Oh well. I won't belabor the point because I don't want to be the guy who constantly complains about a given project. I've said my piece and I'll try not to comment about it anymore. Hopefully I'll be proven wrong in the long run, and there are plenty of other projects to keep me occupied in the meantime.

I'm still jazzed about it because of the height and think it is going to make a dramatic statement on the skyline. It's also directly in my east northeast line of view and I'll be able to see it even from the back corner of my living room! I can't wait!

[easy as pie]

yeah, this one will be a fabulous addition to views from almost anywhere in the city, lounging at dolores park? beautiful view. sitting around at jessie square? beautiful view. coming over the bay bridge? beautiful view. from marin, this thing will look great. and beyond the height it'll do a huge amount of work getting us past our table top, bland skyline.

[peanut gallery]

^That's a really good point. No matter what, a new pinnacle of this height will make the skyline more intriguing.

viewguy - that's another thing to look forward to: your photos of it rising!

[Roadcruiser1]

Realize that this building will be completed a year before the Wilshire Grand Tower in Los Angeles. This will make the Transbay Tower the tallest building in the West Coast for a year if everything goes according to plan.

Edit: Some news from several months ago gives us hope that this building might have an observation deck. Apparently now that the building is under construction they are going to look into it.

http://inhabitat.com/san-franciscos-mesh...-the-tallest-building-on-the-west-coast/

http://sfist.com/2012/10/19/planning_commission_finally_oks_wes.php

[mt_climber13]

"Now that we are closing on the land and moving full speed ahead with the design, I'm confident that discussions will progress into leasing quickly."

Does this mean that the design is not finalized and still being perfected?

Have the transbay parcels even been height approved by the BOS and planning yet?

[Roadcruiser1]

Originally Posted by wakamesalad

"Now that we are closing on the land and moving full speed ahead with the design, I'm confident that discussions will progress into leasing quickly."

Does this mean that the design is not finalized and still being perfected?

Have the transbay parcels even been height approved by the BOS and planning yet?

The tower has already been approved quite a while ago, and the design has already been perfected. Groundbreaking is later today. They are just trying to get tenants. Otherwise they are going to be building an empty building.

However the terminal building's design hasn't been finalized yet. http://www.sfgate.com/bayarea/place/arti...hange-proposed-4359348.php#photo-4332517

[cv94117]

Originally Posted by Roadcruiser1

The tower has already been approved quite a while ago, and the design has already been perfected. Groundbreaking is later today. They are just trying to get tenants. Otherwise they are going to be building an empty building.

However the terminal building's design hasn't been finalized yet. http://www.sfgate.com/bayarea/place/arti...hange-proposed-4359348.php#photo-4332517

Not really a groundbreaking today. Just a ceremony/PR event to note the transfer of title and payment of $192M to Transbay. Actual groundbreaking and start of construction won't be until Summer at best. If that happens, should be completed way before the new Terminal which I've heard is delayed far more than what they're admitting publically.

[Roadcruiser1]

Originally Posted by cv94117

Not really a groundbreaking today. Just a ceremony/PR event to note the transfer of title and payment of $192M to Transbay. Actual groundbreaking and start of construction won't be until Summer at best. If that happens, should be completed way before the new Terminal which I've heard is delayed far more than what they're admitting publically.

It was an actual groundbreaking. http://www.nbcbayarea.com/news/local/The-Man-Behind-the-New-Transbay-Tower-200351781.html. This building should be moved to the Supertall Construction thread now.

[cv94117]

Originally Posted by Roadcruiser1

It was an actual groundbreaking. http://www.nbcbayarea.com/news/local/The-Man-Behind-the-New-Transbay-Tower-200351781.html.

Uh, no it wasn't. Just because they took some pictures while they shoved some shovels into some dirt specially piled on the site doesn't mean they are starting construction. You won't see construction on the site related to the tower for months. Design's not even finished yet. It was just a photo op.

[tall/awkward]

My fellow architecture enthusiasts,
I for one am excited about the Transbay Tower. It's easy to get discouraged during the design process of a building compared to seeing the finished product. Transamerica has always been one of my favs, but to have seen it cut down from its original 1150 feet, and the "ears" added to it would have been frustrating. But in the end, in a city full of NIMBYS, after an era (the 1990s) in which there was almost nothing built of any size, it feels like a miracle to me to see a building twice the height of the original 550 feet proposed for it! And the slots at the top, while a very different look than what we're used to, I think will make it more interesting, especially when they are lit at night.

[1977]

Tally me up as another person happy to see this thing rise. I really believe it's going to be a stunner once it's built. Keep in mind, this is going to be taller (spire included) than the Chrysler Building in NY, which is a pretty big deal for a town notorious for its NIMBYs. I never thought I would see the day.

[1977]

Not that I care either way, but I found this to be an interesting quote:

San Francisco, Los Angeles vie for tallest skyscraper

"Soon to be the West Coast's tallest building," Lee crowed in a statement, "the Transbay tower benefits not only a world-class transit facility but also represents the strength of our city's recovery."

Asked repeatedly about the Wilshire Grand, the communications team for the Transbay Joint Powers Authority at first ignored the question, then threw a knuckle ball. Spokesman Adam Alberti said a "superstructure" of some kind will be added to the Transbay tower that will likely bring it above 1,100 feet, though fact sheets and renderings do not indicate such a feature.

http://www.mercurynews.com/san-mateo-cou...cisco-los-angeles-vie-tallest-skyscraper

[mt_climber13]

I knew it! This WILL be the tallest tower in the west coast, and the design has yet to be finalized. I'm guessing this will reach the original proposed 1200'

[1977]

Originally Posted by wakamesalad

I knew it! This WILL be the tallest tower in the west coast, and the design has yet to be finalized. I'm guessing this will reach the original proposed 1200'

It's possible. If I remember correctly, One Rincon Hill (tower 1) was pretty much sold as a 550 foot tower until ground was broken. As we know, that tower ended up being over 640 feet tall.

Or maybe, as stated, a surprise addition to the crown? Similar to this (one of my favorite buildings anywhere):

Prior to its completion, the building stood about even with a rival project at 40 Wall Street, designed by H. Craig Severance. Severance increased the height of his project and then publicly claimed the title of the world's tallest building (this distinction excluded structures that were not fully habitable, such as the Eiffel Tower). In response, Van Alen obtained permission for a 38-meter (125 ft) long spire and had it secretly constructed inside the frame of the building. The spire was delivered to the site in four different sections. On October 23, 1929, the bottom section of the spire was hoisted onto the top of the building's dome and lowered into the 66th floor of the building. The other remaining sections of the spire were hoisted and riveted to the first one in sequential order in just 90 minutes.

http://en.wikipedia.org/wiki/Chrysler_Building

[Roadcruiser1]

I am still waiting for news on the observation deck ideas for this tower. One thing is for certain the design for the upper portions of the tower is still uncertain. We might even get a spire on this tower.

[tech12]

Originally Posted by 1977

It's possible. If I remember correctly, One Rincon Hill (tower 1) was pretty much sold as a 550 foot tower until ground was broken. As we know, that tower ended up being over 640 feet tall.

Or maybe, as stated, a surprise addition to the crown? Similar to this (one of my favorite buildings anywhere):


http://en.wikipedia.org/wiki/Chrysler_Building

If they add a spire to the Transbay tower....

That could be amazing. I hope this news of a "superstructure" (whatever that may be....spire? antennae? a crown on top of a crown? Alien docking platform?) is true.

[fflint]

I would love to see TBT taller than currently proposed. I wish any height increase could be via occupied floors, but I'm not complaining if we just get a super-spire.