The San Francisco Recovery Fund has announced its vision for 50 1st Street in SoMa, San Francisco. The site has been a prominent mothballed pit in the heart of the city after construction ceased in 2020 amid the former developer’s financial turmoil. Now, the project team is looking to open Fifth at First as early as 2031.
BXP will serve as project consultant for development, leasing, and marketing, while JLL will be the exclusive office leasing agent. Rod Diehl, Executive Vice President, West Coast Regions at BXP, said, “With its exceptional location, visionary design, and forward-looking approach to the workplace, this project has the potential to become a defining addition to the city’s skyline and a destination for the world’s most innovative companies.
Fifty at First hero shot, rendering by Gensler
Permits have not yet been published as of this report, though SFRF expects to submit plans soon for the 915-foot-tall commercial office tower. Once complete, the structure is expected to yield around 1.5 million square feet across 56 floors. The complex will differentiate itself with 15’6″ deck-to-deck heights, approximately 20,000 square feet of outdoor space, and an arts program done in consultation with SFMOMA.
If built today, the project would be the second tallest building in San Francisco, shorter than the 1,070-foot Salesforce Tower and taller than the 853-foot Transamerica Pyramid. The only other project in the city’s pipeline that could eclipse this height is the proposed 1,225-foot office supertall proposed by Hines at 77 Beale Street.
Fifty at First ground view, rendering by Gensler
Manan Shah, Managing Director and Principal at SFRF, shared that the project aims to cultivate “the best creative environment, with a focus on bringing people together to do their best work, in a healthy and sustaining way. The tower will bring together private business, cultural experiences, and public space in a uniquely San Francisco way as we evolve our Downtown from a 9-5 environment to a 24/7 ecosystem.”
Gensler is the project architect, with landscape architecture by Field Operations. Renderings show a strong influence from the previous vision for 50 1st Street drafted by Foster and Partners. The structure will appear like a folding screen rising over 1st Street, with diagonal latticework built into the curtain-wall skin. Magnusson Klemencic Associates will oversee structural engineering, and MEYERS+ will handle MEP engineering.
Fifty at First client prefunction lobby, rendering by Gensler
Meanwhile, SFMOMA has been tied in as a consultant on an art project for the site. SFMOMA’s Christopher Bedford said in a press release, “our hope is that the artistic commissions for this new site celebrate the vibrancy and deep relevance of both local and international artists — underscoring San Francisco’s position as a beacon for creativity in the region and around the globe.”
Oceanwide Center construction site circa 2024, image by Andrew Campbell Nelson
The vacant lot is located at the corner of 1st Street and Mission Street, across from the Salesforce Tower and Salesforce Park. Construction halted on the Oceanwide Center in 2020, and the joint general contractors, Swinerton and Webcor Builders, sued the developer for unpaid work in 2021. Eventually, a $28 million settlement was reached, and the site was forced into foreclosure in 2024. SFRF purchased the site in January 2026 for a reported $60 million. The site is currently occupied by the incomplete foundation of the Oceanwide Center.
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