Updated permits have been filed for the now-foreclosed project at 342-360 5th Street in SoMa, San Francisco. The parcel has been a stalled pit in the ground since LEAP Development excavated the site in 2019. Paul Thompson of Novato-based Thompson Builders is now responsible for the application.
Trammell Crow Company secured entitlements in 2017 for an eight-story mixed-use infill with 127 apartments, ground-floor retail, and 8,000 square feet of light industrial use. City records show LEAP Development purchased the site in mid-2018 for nearly $3.3 million and secured site permits for construction in late 2018. Construction started in 2019 but was suspended in mid-March of 2020.
360 5th Street stoops along Shipley Street, rendering by KTGY
360 5th Street aerial view, rendering by KTGY
The site has remained an empty, water-filled hole in the ground ever since. LEAP Development defaulted on a $10 million loan related to the project in May of last year and faced a lawsuit from the city by September.
The new developer is requesting that the city treat this application as a pipeline project so that the plans can benefit from a local ordinance that “temporarily reduces the Inclusionary Affordable Housing requirements and development impact fees, in an effort to improve the feasibility of residential development.”
Several changes have been made to the latest iteration of 360 5th Street, with slightly fewer units and no more commercial space. The plans now seek to build 115 for-sale condominiums across 97,400 square feet and a 63-car garage. Additional space will be provided for parking 123 bicycles. Unit types vary with 31 studios, 31 one-bedrooms, 36 two-bedrooms, and 17 three-bedrooms.
360 5th Street entry, rendering by KTGY
360 5th Street, image via Google Satellite
Handel Architects has taken over design from KTGY. However, the plan sets retain many of the design elements first drafted by the original architects.
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thank god. I live by this site, and the hole in the ground is a breeding ground for mosquitos. One night I woke up with mosquito bites all over my head after leaving my window open.
Mosquitos should be your least concern. Rats can climb you sides of buildings & enter into an open window. (I have vid of one climbing on our building 25’ up…). Be safe.
Hoping this project can move forward asap. It’s been an eye source for too long!
This should be at least double the height that is proposed. Wasted opportunity. Better than a hole in the ground though.
Send it!!
I understand the ROI on commercial space is iffy at the moment, but would love if — in these situations — the ground levels were flex spaces or live/work units in order to activate street and adapt to the neighborhood as it changes. Obv not every part of the city needs retail activation, but SOMA could use more feet-on-the-street and less blank walls with garage doors and utility access panels (let alone water-filled holes in the ground). In any case, I’d love to see the updated design/plan.