Updated renderings have been published alongside news of an estimated groundbreaking date for 360 5th Street in SoMa, San Francisco. The 21-story tower is expected to add nearly 300 apartments and ground-floor parking to a vacant corner lot, cleared years ago for a residential project abandoned after 2020. DM Development and Thompson Builders are jointly responsible for the project, with construction currently expected to start next year.
360 5th Street podium, rendering by Handel Architects
360 5th Street north (left) and east (right) facade elevations, illustration by Handel Architects
The 249-foot-tall structure is expected to yield around 320,150 square feet, including 283,200 square feet of housing and roughly 16,900 square feet for the single-level basement garage. The complex will provide around 9,550 square feet of open space between the fourth-floor podium-top courtyard and rooftop deck. Parking will be included for 55 cars and 158 bicycles. According to the project website, residential amenities will include community gathering space, a fitness room, and shared work/lounge areas, along with seating and landscaped outdoor areas.
The proposal now includes 273 apartments, including 63 studios, 129 one-bedrooms, and 81 two-bedrooms. Of the 273 units, 21 will be deed-restricted as affordable to households earning around half of the area’s median income, and 21 units will be deed-restricted as affordable to households earning around 120% of the area’s median income. The application invokes Assembly Bill 1287 and the State Density Bonus Program to achieve a 100% density increase above base zoning.
360 5th Street aerial view with the city skyline visible in the background, rendering by Handel Architects
Handel Architects is responsible for the design. Renderings show that the design scheme remains similar to the previous iteration, with tweaks to create more contrast between two vertical volumes along the tower section. Facade materials will include bronze and champagne-tone metal panels, dark stone along the ground floor, and aluminum-frame windows. The firm says the design draws inspiration from the neighborhood’s industrial artisanship and culture. Facade materials will include painted metal, patterned wood siding, and cementitious panels.
Previously, Trammell Crow Company secured an entitlement for an eight-story apartment complex in 2017 and sold the project to LEAP Development in 2018. LEAP Development broke ground in 2019, but suspended work in 2020, leaving an empty hole to collect water and a 2024-filed lawsuit.
360 5th Street, image via Google Satellite outlined approximately by YIMBY
The 0.21-acre property is located along 5th Street between Clara Street and Shipley Street. The site is two blocks away from the 5M development site and four blocks from the Powell Street BART Station.
Construction is estimated to cost around $68.95 million, a figure not inclusive of all development costs. Work is expected to start as early as next year.
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Construction costs:
$69mm
Gross 320k ft2 implies $216/ft2
Net 283k ft2 implies $244/ft2
To those with direct experience in high-rise construction, are these reasonable costs per ft2?
Thanks
That number is too low. It will go up.
Drew
Can you give more detail as to why you think those numbers are not correct?
I value professional experience and please share your background so I, and perhaps other members of the community, can gain confidence in your position through your professional credentials and direct experience.
You’re forgetting the cost of the land purchase itself and cost of demolition and cost of civil work (site work).
The article said,
“Construction is estimated to cost around $68.95 million, a figure not inclusive of all development costs.”
The question was regarding construction cost and not total project cost.
Land cost, and other non construction costs are not material.
In your active experience with high-rise construction is that reasonable construction costs and if not what are reasonable ranges?
Out of curiosity are you a construction manager, high-rise developer, civil engineer or is your background in another area of high-rise development?
Thank you
Did I miss the “estimated groundbreaking date”, or does “expected to start next year” qualify? I live right across from this abomination of an empty lot and can’t wait for it to be anything but a hole in the ground. And the 42 affordable units are much needed (as are the other 200+).
nope, you didn’t miss anything. I was also excited by the opening sentence, and then disappointed by the lack of clarity around “as soon as next year”
I think I read another article recently and it mentioned they were aiming to start in 6 months to late summer 2027 timeframe. Can’t remember the source at the moment.
Sure, fine. Build it. It’s a nice design.
Scotty, is that you? Blink twice if being forced to post against your will.
Hah!
Hey, I like a lot of stuff on here. Remember, I am a MIMBY (Maybe in My Backyard?).
Good. That flat parcel was otherwise a complete waste.
Please break ground on this yesterday.
Anything that gets built in that area will improve it.
no gray, white, orange? no faux concrete?? no thoughtlessly tessellated windows??? I must be dreaming 😍