SAN FRANCISCO | Hayes Point (30 Van Ness Ave) | 540 FT | 47 FLOORS - Page 10

homebucket · #**181** Posted **Jul 19, 2023, 2:01 AM**

Looking good!

Quote:

Originally Posted by Jerry of San Fran

07/18/2023 Some vertical steel beams have been installed.

30 Van Ness Avenue, San Francisco2023_07_18

Iceman12 · #**182** Posted **Jul 19, 2023, 3:05 AM**

Quote:

Originally Posted by homebucket

Looking good!

Thanks Jerry! Does this mean we’re close to a foundation pour?

Jlo · #**183** Posted **Jul 20, 2023, 12:49 AM**

Quote:

Originally Posted by Iceman12

Thanks Jerry! Does this mean we’re close to a foundation pour?

Hey Iceman12, So I believe what is happening, and someone, please correct me if needed. But that white section is the waterproofing that goes beneath the foundation slab. If this is the case then they have hit the lowest elevation already and will be moving on to rebar next. However, it doesn't look there are many piles exposed which is a bit odd.

Jerry of San Fran · #**184** Posted **Jul 20, 2023, 10:16 PM**

Jlo - thanks for the information - I was curious as to what the white stuff is.
Lots of piles in the white section - I suspect extra support there as the property is next to the MUNI & BART tunnel.

obemearg · #**185** Posted **Aug 15, 2023, 12:53 AM**

Not great news... according to S.F. Chronicle (and Lendlease) this one is on hold "until markets normalize and we’re able to bring in early tenancy commitments, or a capital partner, or both."

https://www.sfchronicle.com/bayarea/...y-18295512.php

Quote:

In a statement, Lendlease Executive General Manager Arden Hearing said his group would be “pausing construction on Hayes Point until markets normalize and we’re able to bring in early tenancy commitments, or a capital partner, or both.”

“We will monitor the markets while exploring options for a potential re-start in 2024,” he said, adding that Lend Lease’s management team would continue to work on permitting and other aspects of the project so that “Hayes Point is well positioned once construction resumes.”

Quote:

Lendlease Global CEO Tony Lombardo said the company has already invested $168 million in the Hayes Point project.

“It was a decision over the last couple of months to pause but with really making sure we de-risk it appropriately before we're prepared to put further capital into that,” Lombardo said.

It's a bummer to see all of these projects in "the Hub" struggle to get off of the ground. Hopefully this one resumes in 2024.

whitty · #**186** Posted **Aug 15, 2023, 2:59 AM**

Man, felt this one coming. SF market is so down and all loan rates environment is awful too.

Joins Oceanwide Center as another gaping hole in the ground with an uncertain future.

Zapatan · #**187** Posted **Aug 15, 2023, 3:58 AM**

Quote:

Originally Posted by whitty

Man, felt this one coming. SF market is so down and all loan rates environment is awful too.

Joins Oceanwide Center as another gaping hole in the ground with an uncertain future.

I did too, this project has had an air of uncertainty for a while. So sad that California, one of the largest economies on earth can barely get a skyscraper off the ground (I mean it already has some cool ones sure but I mean current proposals).

At least OC got off the ground and made its mark on the skyline.

Jerry of San Fran · #**188** Posted **Aug 15, 2023, 5:32 AM**

I am shocked & greatly disappointed to hear the bad news. I was excited about this project. Another big hole in the ground. Hopefully in 2024 San Francisco will be in a better place and this project will be built.