Construction is moving along for one of the more eye-catching construction projects in the city, the Serif and The Line Hotel at 950 Market Street in the Tenderloin, San Francisco. Group I was responsible for the development.
The 120-foot structure will yield 400,800 square feet, divided between 242 residential apartments across 196,960 square feet, 232 hotel guest rooms across 138,900 square feet, and 16,800 square feet of ground-level retail. There will be an 82-vehicle garage below-ground spanning 29,860 square feet and storage space for 267 bicycles.
Handel Architects designed the building, with interiors by IwamotoScott Architecture. The solid white fiber concrete panels framing the oversized windows create a clean contemporary look for the corner lot surrounded by early 20th-century buildings of a similar height.
Handel writes about the design, saying the “glass fiber reinforced concrete cladding takes cues from the masonry buildings of the surrounding area, while the patterning and textured character of the façade offers a contemporary interpretation of traditional punched windows in the neighborhood. Designed to read as a continuous wrapper around the building, the façade also employs variation and modulation in window openings and panel sizes to correspond to interior units for the hotel and residential spaces within.”
Group I purchased the property in 2017 for $38.5 million. Construction followed in late October 2018. The construction job is expected to cost $144 million, while the full development costs as much as $350 million.