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  #1121  
Old Posted Sep 2, 2020, 7:10 PM
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Quote:
Originally Posted by Jerry of San Fran View Post
9/1/2020 - I had not been by here for awhile. I see a concrete floor at street level now. A concrete truck was on the site. (a orange hue to the scene from smoke from the wildfires). The wooden boxes apparently cover the massive steel beams
See post 1097 regarding the plywood coverings for the Mission Street tower on which work was suspended. The boxes are protecting rebar (that you can see in posts prior to 1097), not steel beams and that site was basically sealed off awaiting better days. The concrete truck you referenced was there for the First Street tower that is still nominally crawling along.
     
     
  #1122  
Old Posted Sep 3, 2020, 10:09 PM
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9/3/2020

The 1st Street tower had a ground level concrete pour today on the southwestern corner.

     
     
  #1123  
Old Posted Sep 4, 2020, 1:35 AM
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Love that photo, Smashing Alligator! Please continue to update us from that angle!
     
     
  #1124  
Old Posted Sep 18, 2020, 4:45 PM
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San Francisco Projects ThreadOakland Projects ThreadOceanwide Center - 275M/901'
     
     
  #1125  
Old Posted Sep 18, 2020, 5:37 PM
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This project seems to be going nowhere fast, which is not surprising.
     
     
  #1126  
Old Posted Sep 18, 2020, 9:03 PM
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The last update from 8/12 on Swinerton Webcor’s site laid out the pouring schedule for this month.

“Concrete placement of suspended decks will be taking place on September 3rd, 8th, 14th, 18th and 23rd starting at 1:00 am.”
     
     
  #1127  
Old Posted Sep 18, 2020, 9:31 PM
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Thanks, Iceman. Yeah, it sounds like most of the work on this one is being done late night/early morning to avoid disturbing daytime business. So I think more is being done than it may appear by day.

This could be our last big building for a while, so it has to keep going!
     
     
  #1128  
Old Posted Sep 19, 2020, 1:02 AM
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What daytime businesses are operating near here? A hotel? Offices in SF and NY are at 10% capacity, some of the lowest in the country.
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  #1129  
Old Posted Sep 19, 2020, 2:52 PM
SoCal Alan SoCal Alan is offline
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Quote:
Originally Posted by Iceman12 View Post
The last update from 8/12 on Swinerton Webcor’s site laid out the pouring schedule for this month.

“Concrete placement of suspended decks will be taking place on September 3rd, 8th, 14th, 18th and 23rd starting at 1:00 am.”
That means pictures today would be interesting...
     
     
  #1130  
Old Posted Sep 24, 2020, 10:19 PM
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9/24/2020

Another ground level concrete pour happened on the northeast corner of the 1st Street site this morning. That leaves one corner left on the northwest side (not visible in the photo except for a small section of rebar).

It does not appear that any work is being done to the sections that have already completed the ground level concrete pours. Maybe this is it for now and it's time to wrap it up like the Mission Street parcel?

     
     
  #1131  
Old Posted Sep 26, 2020, 3:38 AM
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I hope not
     
     
  #1132  
Old Posted Sep 26, 2020, 4:59 PM
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Given everything going on with this project and the world I wouldn't be surprised, but at the end of the day it's likely not flat out cancelled, just on hold, thought we'll wait for an official word.
     
     
  #1133  
Old Posted Sep 27, 2020, 8:19 PM
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https://www.bizjournals.com/sanfranc...tml#g/472014/9

Things are progressing!

For this issue, their annual "Structures" issue, the BizTimes appears to have tried to contact the developers of all the major projects to find out their status. When they got no response, they specifically say so. So I take the statement that "things are progressing" on this project as good news.

Also, we should know soon enough. Basically, the concrete foundation work is nearly complete and it's time to erect steel. Either they will or they won't--they have already started after all.

And finally, note that they haven't taken down the crane even for the Mission St. building. Renting those cranes isn't cheap. Hard to believe they'd keep paying rent on it unless they figured it would be back in use reasonably soon.
     
     
  #1134  
Old Posted Sep 27, 2020, 9:56 PM
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Screencap is too small. Could you make it a little bigger?
     
     
  #1135  
Old Posted Sep 30, 2020, 9:12 PM
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This is an absolute joke at this point.

https://therealdeal.com/la/2020/09/3...3-more-months/
     
     
  #1136  
Old Posted Sep 30, 2020, 10:31 PM
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Quote:
Oceanwide Center sale delayed again; developers, GC sued over unpaid work
By Laura Waxmann – Staff Reporter, San Francisco Business Times
Sep 30, 2020, 2:12pm PDT Updated 14 minutes ago

A subcontractor hired to perform foundation work on San Francisco’s $1.6 billion Oceanwide Center has sued the troubled project’s developers and general contracting team seeking payment of $17.9 million.

The lawsuit, filed Tuesday in San Francisco Superior Court by Malcolm Drilling Co., names Swinerton and Webcor Builders — the joint venture serving as general contractor — and Oceanwide Center LLC (Oceanwide Holdings) and TooHigh Property Investments LLC.

The lawsuit was filed just a day before Oceanwide and Hony Capital, a Beijing-based private equity firm that agreed to buy the development site this spring for $1.2 billion, announced they would extend the deadline to close on the deal until Dec. 31, according to a notice posted with the Shenzhen Stock Exchange. The deadline to close was Wednesday.

The filing cited the Covid-19 pandemic as reason for the continued delay. That's the same reason the companies gave in June when they extended the deadline until the end of September.

Malcolm Drilling's lawsuit alleges that reference documents it received in 2016 regarding subsurface conditions at the site did not reflect actual conditions, causing it to work an additional 332 days beyond what its 2016 contract stipulated to get the job done.

“During the course of installing the drilled pier foundation shafts, Malcolm encountered unexpectedly high quality rock and thicker layers of higher quality rock than reasonably anticipated,” the company stated in its lawsuit. “This rock was substantially harder than indicated in Oceandwide’s contract documents.”

The extra work caused Malcolm Drilling to incur $17.9 million in additional costs, the company alleged in its suit, which alleged Oceanwide has refused to pay the overruns.

As I reported last month, a number of subcontractors hired for the project have filed mechanic’s liens totaling more than $30 million, including Malcolm Drilling, which filed a claim in June for $9.8 million.

The largest of the claims, totaling close to $17.5 million, was filed by Permasteelisa North America Corp., which was hired to perform work on the project’s exterior facade and cladding. In April, Silverado Construction filed a claim for nearly $1.8 million plus interest . . . .
https://www.bizjournals.com/sanfranc...FpaWZaS1J2ayJ9
     
     
  #1137  
Old Posted Sep 30, 2020, 10:52 PM
theskysthelimit theskysthelimit is offline
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Sounds like more of a financial issue with Oceanside and now Hony Capital than anything else. Would be better if a US company, like Boston Property, would step in and take over the property.
     
     
  #1138  
Old Posted Oct 2, 2020, 6:22 PM
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San Francisco is in a state of crisis with no demand for office space, high end condos (especially in towers), rental apartments, retail sites, and hotel rooms. SOMA and the Mission are greatly suffering. Meanwhile, the situation on our streets grows ever worse and public transportation is a fraction of what it was.

This project is going into the deep freeze for now and others will not start until we get to the other end of the tough road we’re on.
     
     
  #1139  
Old Posted Oct 2, 2020, 6:34 PM
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Quote:
Originally Posted by viewguysf View Post

This project is going into the deep freeze for now
Considering all the money already sunk into it, that doesn't make much sense to me. I can't recall a project that reached a similar stage--foundation dug, most below ground concrete poured, steel and cladding probably ordered and being fabricated--being frozen in San Francisco or almost anywhere in the US (yes, I've seen topped out steel skeletons in Thailand just sitting there but that's different). From an economic standpoint, I don't see how it would make sense.

On the other hand, it's hard to imagine who the buyers would be unless they got a really exceptional price (which could happen). The office REITs like Boston Properties are hoarding cash because a lot of their rents aren't being paid.

BPX itself would already seem to have a full plate:



https://investors.bxp.com/static-fil...c-a7d9500ee3e2

But the Chinese owners might decide to take what they can get to escape. In any case, it really is hard to see a total construction halt now as making much sense, especially given that the project won't come online for at least another 2 years that could be pretty good timing actually.
     
     
  #1140  
Old Posted Oct 5, 2020, 9:31 PM
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