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

[Pedestrian]

Looks like crane happening at 555 Golden Gate:

[bossabreezes]

I wonder what they're going to do with 6x6?

In all honesty, I walked by that place and it's got to be in one of the worst and least desirable locations in SF. Feels kind of like Zombie Apocalypse.

Anyway, really nice pics of the developments. It's interesting how low rise most development is in San Francisco, but it definitely has it's charm and preserves the views of the hills.

Getting more excited about arriving there sometime in fall next year to start a new chapter

[pseudolus]

Originally Posted by timbad

it was recently mentioned somewhere that people would actually finally start moving into the one at Laguna and Fulton this fall, after all the developer's shenanigans. still hoping they can find a new tenant for the grocery store space

"Second attempt made to bring grocery chain to Hayes Valley"

http://https://www.sfexaminer.com/news/second-attempt-made-to-bring-grocery-chain-to-hayes-valley/

[Pedestrian]

Originally Posted by bossabreezes

I wonder what they're going to do with 6x6?

In all honesty, I walked by that place and it's got to be in one of the worst and least desirable locations in SF. Feels kind of like Zombie Apocalypse.

Anyway, really nice pics of the developments. It's interesting how low rise most development is in San Francisco, but it definitely has it's charm and preserves the views of the hills.

Getting more excited about arriving there sometime in fall next year to start a new chapter

As I posted earlier, it was just bought by a consortium including Alexandria REIT*. Their focus is on pharma/biotech facilties (lab space and offices). The previous owner had already sought to convert the upper floors to office space. I imagine Alexandria plans to seek to convert it to something other than retail--not sure if the city would allow labs here but probably tech offices--but I am pretty sure the city will insist the ground floor at least remain retail.

Yes, Mid-Market is bad but the idea was that this building along with the other new projects across the street and the tech companies that have moved in (Twitter, Dolby, Square etc) would greatly improve it. And as I also said above, this area does need some neighborhood-focused discount retail where people living in adjacent parts of the Tenderloin and SOMA can buy basic affordable stuff like groceries, housewares and clothing--the sort of stuff the original projected tenant, Target, sells.

As to the heights, the adjacent areas are zoned for up to 120 ft in most cases. For residential buildings, that's 12 floors. This limit was an intentional effort to block highrise condo development displacing the areas pre-existing SROs and other lower income housing. But it is sandwiched between downtown where heights are much taller (maxing out at 1000 ft) and "The Hub" where it is now expected the buildings will be between 400 and 600 ft or a bit taller. As a New Yorker, look at it as like the midrise Chelsea area between downtown and midtown Manhattan (although Chelsea, like everything in Manhattan, is much gentrified compared to Mid-Market--I'm just talking about the "saddle" in the skyline). Basically the south Financial District, Rincon Hill and The Hub are the loci of highrise tower development in SF currently.

*Article about Alexandria's other activities and plans in the Bay Area @ Big Bay Area biotech developer on buying binge as others enter 'funky, oddball niche' but I doubt non-subscribers can see it.

[Pedestrian]

A couple of updates:

- First of all, Barney's New York this evening filed for Chapter 11

Barneys New York files for bankruptcy
Aug. 6, 2019 2:41 AM ET
By: Yoel Minkoff, SA News Editor

Barneys, a nearly century-old icon of New York retail, has filed for bankruptcy protection and secured a $75M financing package to support a sale process that will see the company close 15 of its 22 locations.

https://seekingalpha.com/news/3487273-barneys-new-york-files-bankruptcy

For the sake of Union Square, I hope SF isn't one of the 15 but the odds don't seem good.

- Whoever said the news of Salesforce leasing Oceanwide's 1st st tower was premature turns out to probably be correct. The same source I referenced last week is now saying:

Salesforce’s San Francisco real estate footprint has grown hand-in-hand with the workforce — and is expected to balloon even further. The company’s urban campus, which includes Salesforce tower, takes up 1.9 million square feet of its San Francisco space. Salesforce is also planning to lease an additional 325,000 square feet in the Parcel F building at 550 Howard St. In addition, the company is known to be considering leasing the entire 1.1 million-square-foot Oceanwide Center. Salesforce declined to comment on the Oceanwide Center site, saying it does not comment on “rumors or speculation.”

https://www.bizjournals.com/sanfrancisco...an-francisco-most-employees-benioff.html

But the article in which this paragraph occurs is about the rapid growth of the company, both in terms of revenue and employee numbers and it argues that growth will continue so they are likely to be needing the space.

[pseudolus]

Originally Posted by Pedestrian

For the sake of Union Square, I hope SF isn't one of the 15 but the odds don't seem good.

"Barneys bankruptcy means closure of all but 7 stores: SF, Livermore expected to survive"

https://www.sfgate.com/business/article/Barneys-bankruptcy-means-closure-of-all-but-7-14283780.php

[timbad]

Originally Posted by pseudolus

"Second attempt made to bring grocery chain to Hayes Valley"

http://https://www.sfexaminer.com/news/second-attempt-made-to-bring-grocery-chain-to-hayes-valley/

thank you sir!

[timbad]

the affordable one at the foot of Telegraph Hill

[Pedestrian]

Developers kick off work on 240 microunits in the Tenderloin
By Blanca Torres – Reporter, San Francisco Business Times
Aug 7, 2019, 7:30am PDT Updated 3 hours ago

Developers plan to kick off construction on 240 microunit apartments in San Francisco’s gritty Tenderloin neighborhood.

The $100 million project, known as TL 361, combines 146 apartments at 361 Turk St. and 94 apartments at 145 Leavenworth St. that are targeted at various income levels . . . .

The contractor, Centric Construction, expects to complete the homes by the end of 2020.

Forge originally planned to start construction by the end of last year. . . . .

https://www.bizjournals.com/sanfrancisco...WTNjcmJvYnZcL0VJTGpIQzZkIn0%3D#i/5576681

[timbad]

coulda sworn there was a thread for this one already, but I don't see one



- 200 ft
- ~ 200 hotel rooms
- keep existing facade, make over the adjacent alley, rooftop bar
- break ground next year if approved with no hold-ups

[timbad]

somewhat random, here is 'The Landing' on the east slope of Potrero Hill, looking almost complete. I don't find it particularly attractive (and still think the siting is awkward), but it's housing near transit. the fancy stairway up the side of the hill was not complete when I went by there.

[Jerry of San Fran]

So glad to see rebar being put into the foundation. I though this development might have died! New banners say Fisher Construction is the company building the twin towers.

1554 Market Street

[DIESELPOLO]

Originally Posted by pseudolus

"Second attempt made to bring grocery chain to Hayes Valley"

http://https://www.sfexaminer.com/news/second-attempt-made-to-bring-grocery-chain-to-hayes-valley/

This one could have had another story on it, no?

Re: Moving in – I'll believe it when I see it.

[DIESELPOLO]

Originally Posted by timbad

the affordable one at the foot of Telegraph Hill

Calling it "the affordable one" is so funny #TheRentIsTooDamnHigh

[Pedestrian]

Originally Posted by DIESELPOLO

This one could have had another story on it, no?

Re: Moving in – I'll believe it when I see it.

Front page article on this and other projects (e.g. 1554 Market) by the same developer (Z&L Properties)) and others in this week's BizTimes (I'll quote what I think I can for non-subscribers):

WHY S.F. ISN’T GETTING THE CONDOS IT NEEDS
By Blanca Torres – Reporter, San Francisco Business Times
12 hours ago

The condo development site at 1554 Market St. in San Francisco has sat idle for more than a year. Work stopped in early 2018 after the developers demolished an existing building there and prepped the land for new construction.

What happened? For the developer, Z&L Properties, the economics of building condos in San Francisco proved trickier than expected. A narrowing gap between costs and sales projections hindered financing, but the company was finally able to make the numbers work, securing a construction loan in July to restart 1554 Market . . . .

“For the traditional San Francisco developer, it is still very difficult to build middle-of-the-road priced condos,” said Eric Tao, a longtime housing developer who is partnering on 950 Market St., a 242-unit project in the Mid-Market neighborhood.

The $350 million 950 Market St. project consists of a hotel and condos expected to hit the market in late 2020. The project kicked off construction last fall after years of delays.

Developers already have to deal with several challenges: scarcity of land, lengthy approval process, neighborhood opposition, increases in city fees. But by far, Tao said, the steep escalation in what contractors demand for their work has pushed the cost of producing housing too far north for developers to make money . . . .

Most new developments start at $1,300 per square foot — the baseline of what developers need to charge to turn a profit, Zeger said. Those prices reflect rapid appreciation: About a decade ago, prices surpassing $1,000 per square foot was almost unheard of.

. . . it has been much harder for developers targeting lower price points, Tao said. The high-rise at 950 Market St. requires concrete construction and will use union labor. Smaller, stick-built projects that don’t use union labor cost less, he said . . . .

. . . the 139-unit 555 Fulton (the project referenced above), is close to welcoming residents this fall after five years of construction — more than twice as long as the project should have taken . . . .

https://www.bizjournals.com/sanfrancisco...t-the.html?iana=hpmvp_sfbt_news_headline

Originally Posted by DIESELPOLO

Calling it "the affordable one" is so funny #TheRentIsTooDamnHigh

#TheCostOfBuildingAnythingIsTooDamnedHigh

[timbad]

Originally Posted by DIESELPOLO

Calling it "the affordable one" is so funny #TheRentIsTooDamnHigh

It's not just me

[viewguysf]

2 Varela at Holloway - P3 project apartment style housing for 580 students, built on University Park South block 6 that was formerly part of Parkmerced

[IMG]2 Varela student housing from west on Holloway by viewguysf, on Flickr[/IMG]

[IMG]2 Varela at Holloway by viewguysf, on Flickr[/IMG]

Liberal and Creative Arts Building, new home of BECA, rising on UPS Block 1, formerly part of Parkmerced
https://develop.sfsu.edu/campaign/liberal-and-creative-arts-building

[IMG]Liberal & Creative Arts BECA building by viewguysf, on Flickr[/IMG]

[Pedestrian]

City breaks ground on new police facility in Bayview District
BAY CITY NEWS
Aug. 8, 2019 1:30 a.m.

The San Francisco Police Department broke ground on a new facility Thursday in the city’s Bayview neighborhood, set to house the department’s Traffic Company and Forensic Services Division.

The 100,000-square-foot, seismically safe building will be located at 1995 Evans, once it’s completed in the Fall of 2021 . . . .

The new facility will be equipped with multiple laboratory spaces, a safe room to store evidence, a firearm testing facility, a briefing room and several office spaces and conference rooms. Additionally, the location has space for SFPD motorcycle parking . . . .

The project, which is being managed by the city’s Public Works department, is being funded with Earthquake Safety and Emergency Response Bond program, passed overwhelmingly by voters in both 2010 and 2014 . . . .

https://www.sfexaminer.com/news/city-breaks-ground-on-new-police-facility-in-bayview-district/


https://sfpublicworks.org/traffic-company

[timbad]

Originally Posted by viewguysf

2 Varela at Holloway - P3 project apartment style housing for 580 students, built on University Park South block 6 that was formerly part of Parkmerced

[IMG]2 Varela student housing from west on Holloway by viewguysf, on Flickr[/IMG]

...

does that span the entire block down to Cardenas?

[viewguysf]

Originally Posted by timbad

does that span the entire block down to Cardenas?

Yes, it covers the entire UPS block 6. Long, rectangular UPS block 5 to the west is still SF State housing in the former Parkmerced apartments.