Finally an update on this one. Hopefully this one still ends up getting built somehow. It'd be a shame to lose such a nice design and skyline impactful tower.
A refresher on the specs:
- 806 FT | 61 FLOORS
- 325,000 sq ft of office space
- 165 apartment units
- 189 hotel guest rooms managed by Rosewood
- 9,000 sq ft for retail
- Parking will be included for 183 cars and 212 bicycles
The current site:
https://goo.gl/maps/U9E7gkqpmoP1o21X8
Quote:
Hines Gets Loan Extension For 61-Story Parcel F, San Francisco
BY: ANDREW NELSON 5:30 AM ON JULY 7, 2023
Permits are approved, and construction was expected to start two years ago, but now the site remains undisturbed while the project developer has received an extension for two loans totaling $80 million. Both JPMorgan Chase Bank and United Overseas Bank have pushed the deadline for Hines through October for two $40 million loans pertaining to the 61-story proposal at 550 Howard Street in SoMa, San Francisco. If built today, the mixed-use tower could become the fourth tallest tower in the city.
The project is a joint venture with Hines, Urban Pacific, and Goldman Sachs Asset Management. The news of a loan extension was first reported by Laura Waxmann for the San Francisco Business Times this Wednesday. According to Waxmann, Hines “confirmed the loan extension on Friday but declined to comment on the status of the project or whether it is trying to sell the site.”
Waxmann also notes that Hines will be required to pay $160 million in quarterly installments starting next year and ending in 2027 to the Transbay Joint Powers Authority. The public authority sold 550 Howard Street to Hines in 2016 for $160 million.
The 61-story proposal is expected to rise around 806 feet. From its 957,000 square feet floor area, there is expected to be 325,000 square feet of offices, 165 apartments, and 189 hotel guest rooms managed by Rosewood Hotels & Resorts. Approximately 9,000 square feet of retail will open on the podium, alongside parking for 212 bicycles and 183 vehicles.
Pelli Clarke Pelli Architects, the same firm responsible for the Salesforce Tower, is responsible for the design. The project will be clad with a curtain wall facade extending to the street level. The public will find public elevators going to the fifth floor, where there will be some retail shops and a bridge connecting the building with the Transbay Transit Center’s blocks-long rooftop park.
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https://sfyimby.com/2023/07/hines-ge...francisco.html