Posted Mar 19, 2010, 6:28 PM
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BANNED
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Join Date: Jun 2006
Location: San Francisco & Tucson
Posts: 24,071
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Quote:
Friday, March 19, 2010
Millennium Partners revives S.F. highrise, museum
Exec: ‘Walking away was not an option’
San Francisco Business Times - by J.K. Dineen
Millennium Partners is dusting off plans for a highrise condo tower at 706 Mission St. in San Francisco after two years in which the financial crisis brought planning to a virtual halt.
The developer and San Francisco Redevelopment Agency staffers are preparing an environmental impact report and negotiating a revised development agreement that will likely head to the redevelopment board in April. Senior Project Manager Amy Neches said she hopes to have entitlements wrapped up early next year with construction starting in late 2011 or early 2012 . . . .
The project calls for Millennium Partners, which was responsible for the Four Seasons San Francisco, the Metreon and the Millennium Tower at 301 Mission St., to build a condo tower on a site made up of a 9,000-square-foot parcel the Redevelopment Agency owns and a 16,000-square-foot parcel the developers bought in 2006. The tower would house a 35,000- to 40,000-square-foot Mexican Museum, which the developers will build at no cost to the museum. Both the museum and condo tower would be connected to the historic Mercantile Building at 706 Mission St., a 1903 structure that the developers would restore. The height of the residential tower, which is being designed by Mexican architect Enrique Norton’s TEN Arquitectos and San Francisco-based Glenn Rescalvo of Handel Architects, would likely be between 450 and 550 feet.
Renewed progress on the project has in part been driven by District 9 Supervisor David Campos . . . .
Meanwhile, Rescalvo said the design team is busy working with planners on design and shadow studies. “The timing is right,” said Rescalvo. “If the building were to start within a year and a half, you could be in the market at the right time. Everybody is still timid but … it’s time to get people back to work, to get this stuff going again.”
The use of the Mercantile Building is still being decided. The ground floor will continue to be retail and will provide an entrance to the residential tower. The upper portion of the 100,000-square-foot building could become housing or accommodate a different cultural use. Current tenants include Yelp, which recently expanded into 50,000 square feet. The non-historic gold brick exterior on 706 Mission would be removed and the original exterior restored . . . .
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Source: http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2010/03/22/story1.html
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