New building permits have been filed for the 12-story office proposal at 490 Brannan Street in SoMa, San Francisco. The filing comes several months after the property was purchased by Trammell Crow from Strada Investment Group.
While the new activity shows renewed focus, the current market conditions cast doubt that crews will break ground soon. YIMBY last reported on the proposal in the Summer of 2021, while Strada Investment Group was pushing for an office tower designed by Perkins&Will. The architectural design by Perkins&Will took inspiration from basalt stone formations for the facade articulation. It’s possible Trammell Crow will retain the same architectural plans.
The property is currently occupied by surface parking and a single-story commercial structure. New building permit estimates that construction will cost around $178 million and last around 24 months. Demolition permits have also been filed for the existing office building at a cost of $150,000.
Strada and Trammell Crow are jointly responsible for the proposed redevelopment of Pier 30-32 along the San Francisco waterfront. Recently presented plans by the joint venture for the piers show the plans provide less emphasis on offices, with greater integration of retail and recreation spaces to activity the busy pedestrian streetscape.
Trammell has not yet replied to a request for comment from YIMBY.
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This area has quite a few pending projects with very little ground broke. I’m the last few years… they are opening the central subway for full service in January. Let’s get building!
Half of the offices in financial district sits empty. There are enough offices in that area and We should be building more housing.
Why demo when they can just rent out the parking areas or do something else. We all know they will not build.
More office space? 🙄