Once the tallest building in the west of the United States, 555 California Street still stands out in the San Francisco skyline half a century later. The 1969-era skyscraper has long been symbolic of the city’s Financial District, second only to the Transamerica Pyramid. Currently, the building is majority-owned by Vornado Realty Trust, holding 70% of ownership, with a 30% partnership deal with the President’s Trump Organization. Vornado announced this week that they have temporarily ceased efforts to sell the building, as well as the 1290 6th Avenue tower in Manhattan, also part-owned by the President’s company, stopping the search for a potential $5 billion transaction. If made, the Trump Organization stood to gain $1.5 billion. Efforts to sell are expected to restart in 2021.
Articles by Andrew Nelson
Permits have been filed to initiate the project review meeting for a new building at 5250 3rd Street in Bayview, San Francisco. The application calls for the construction of a 98-unit residential structure. The developer describes in the project review permits that their goal is to provide the majority of the housing for middle-tier affordable housing for teachers working in the city. Leavitt Architecture Inc. is responsible for the project design
Plans for a 1.38 million square foot addition to UC Davis’s Sacramento Campus have been approved by the University of California’s Board of Regents. With the decision made just weeks after the City Council also approved the development, their decision paves the way for the school to begin construction on phase one by early next year. The project, to be built at 2751 Stockton Boulevard in Sacramento, will produce a public plaza connecting four new buildings with housing, office space, and new research capacity. UC Davis picked Wexford Science & Technology and GMH Capital Partners to be joint developers of the project.
Permits have been filed for a new 119-unit mixed-use building at 2951 El Camino Real in Palo Alto, Santa Clara County. The five-story structure will offer 5,000 square feet of office space and 1,000 square feet for ground-floor retail. Twenty-three of the units will be sold as affordable housing. Acclaim Companies will be responsible for the development.
The Oakland City Planning Commission has approved the multi-building mixed-use Mandela Station @ West Oakland BART development, which plans to bring 762 units to 1451 7th Street, West Oakland. The project, so named for surrounding West Oakland BART Station, will culminate with over 75,000 square feet of new park space, retail, 240 affordable houses, and 522 market-rate apartments inside the 320-foot residential tower. JRDV Architects is responsible for the design.