Preliminary permits have been refiled for a residential tower at 395 3rd Street in SoMa, San Francisco. The project team is seeking re-entitlement for the site and now proposes a 45-story skyscraper with 501 apartments, including 51 affordable units. Strada Investment Group is the project sponsor.
Plans were initially filed for a 35-story tower with basement parking and 522 apartments, including 84 affordable units. By 2025, the developer modified the previous application, increasing to 37 floors while reducing the inclusionary housing to 53 units.
The latest application is for a 480-foot-tall skyscraper yielding around 608,500 square feet, including about 468,500 square feet of housing, 108,510 square feet for parking, and 3,600 square feet of ground-level retail. The biggest difference will be the parking: a seven-story, 150-car podium garage. Additional space will be provided for 239 bicycles. Apartment sizes will vary with 58 studios, 287 one-bedrooms, and 105 two-bedrooms.
395 3rd Street west and south facade elevation, illustration by Henning Larsen & Multistudio
395 3rd Street massing and bulk, illustration by Henning Larsen & Multistudio
The project will include 501 rental units, of which 51 would be deed-restricted as affordable to very low-income households earning about half of the area’s median income. The application invokes Senate Bill 423 and the State Density Bonus law to streamline the approval process and increase residential capacity above base zoning.
Henning Larsen and Multistudio will be the joint project architects. Illustrations show the overall design scheme has remained similar, though the ground-floor podium has changed significantly with perforated metal screening to allow airflow within the garage.
The re-entitlement application comes as a few other stalled apartment projects have reawakened amid rising rents. This phenomenon was highlighted in a recent report by J.K. Dineen for the San Francisco Chronicle, which noted that developers are starting construction, or expect to start soon, at 321 Florida Street, 360 Fifth, 400 Divisadero Street, 2918 Mission Street, as well as housing components in Potrero Power Station and Pier 70.
395 3rd Street east and north facade elevation, illustration by Henning Larsen & Multistudio
395 3rd Street surface parking, image via Google Street view
The half-acre property is located at the corner of 3rd and Harrison Street. Future residents will be just ten minutes from Market Street on foot and ten minutes from the 4th and Brannan Street Muni light-rail station.
City records show the property last sold in 2021 for $34 million. The estimated cost and timeline for construction have not yet been established.
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