Supplemental Work Underway As Lendlease Keeps 30 Van Ness Avenue On Hold, San Francisco

Plans for the 47-story mixed-use tower at 30 Van Ness Avenue in San Francisco are still on hold. However, a construction crane has returned to the site for limited work on the two-year-old foundation as the project developer, Lendlease, continues to wait before restarting work. The activity will ensure the existing site is stable with improvements to the sidewalk fencing.

30 Van Ness Avenue overall building aerial view, with One Oak and a massing of 10 South Van Ness at the left of the image, design by Solomon Cordwell Buenz

30 Van Ness Avenue seen from across Market Street, image by author

The spokesperson for the Australia-based multinational real estate company Lendlease has confirmed with YIMBY that Hayes Point remains on hold, and that the current activity is related to public safety and ensuring structural integrity. This update comes just months after the developer and the city agreed on a deal to improve the financial feasibility of the entitled plans for a 47-story mixed-use tower. The agreement includes amendments to the 2020-approved entitlements, including a slight increase in office capacity, a sharp reduction in retail space, and the removal of the on-site affordable housing requirements.

The following statement was proved by Lendlease:

Earlier this year, the City brought Hayes Point in line with other San Francisco projects and current City requirements, a positive step toward the project’s long-term viability. While economic challenges remain, we continue to work with all stakeholders toward the goal of delivering a vibrant mixed-use residential tower when market conditions allow.

The roughly 540-foot-tall skyscraper is now expected to yield around 722,000 square feet if built, including 467,100 square feet for housing across 333 units, 252,900 square feet of office space, and 6,420 square feet of retail. Solomon Cordwell Buenz is responsible for the design, which includes a large wedge-shaped podium below the wedge-roof residential tower.

30 Van Ness Avenue, design by Solomon Cordwell Buenz . Rendering by Steelblue

30 Van Ness Avenue foundation in view, image by author

Construction started at 30 Van Ness Avenue in September of 2022, with nearly a year of excavation and construction culminating in the existing multi-story foundation structure. The project was first delayed after further analysis was requested based on its proximity to the BART tunnels. Then, in August 2023, Lendlease halted construction due to market conditions, most notably the record-high office vacancy rates. Those rates remain high, though demand has emerged for new office space. In May of 2024, the firm announced it would start to phase out all international construction projects and centralize investment back to Australia. The announcement prompted more questions than it answered, spurring unanswered speculation that the firm would sell properties, including 30 Van Ness Avenue.

New building permits were issued in mid-June for “supplemental level 3 bracing of [existing] support of excavation system…” This permit estimated the work would cost around $4 million. According to Lendlease, crews will also make modifications to the site fence and walkway along Fell Street.

30 Van Ness Avenue updated podium view, design by Solomon Cordwell Buenz

30 Van Ness Avenue activity, image by author

As the statement by Lendlease’s spokesperson states, the timeline for when construction on Hayes Point might start depends on market conditions changing and increased optimism for a viable future where the mixed-use project could succeed. Previously, the developer estimated construction could cost a quarter billion dollars. The project is also just one of several in limbo in the Market-Octavia area, formerly named The Hub, as recently highlighted by the San Francisco Business Times.

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