Brookfield Properties has officially marked the ceremonial topping out of 415 Natoma Street, the largest office building to do so in San Francisco this year. The 395-foot structure is the largest of six planned buildings in the mixed-use 5M Development in SoMa. Three buildings will be newly constructed, while the other three are adaptively reused historic renovations. Once complete, 5M will create 856 new homes, of which 245 will be affordable, 853,000 square feet of Class A office space, 49,000 square feet of new public open space, and an array of retail spots. Brookfield is developing the project in partnership with Hearst.
Articles by Andrew Nelson
Construction is moving along for one of the more eye-catching construction projects in the city, the Serif and The Line Hotel at 950 Market Street in the Tenderloin, San Francisco. Group I was responsible for the development.
Development plans are currently under review for a modern mixed-use skyscraper at 45-53 Third Street in SoMa, San Francisco. Recently uncovered renderings show in greater detail than previously reported the sculptural design by SOM. Overlooking the Yerba Buena gardens, the project will provide affordable and market-rate housing, luxury hotel space, offices, retail, public area, and an art market, all in one 600-foot structure. The development is being co-sponsored by the Hearst family and JMA Ventures.
The San Francisco Port Commission has paved the path for Strada Investment Group and Trammell Crow to develop Piers 30-32 in SoMa, San Francisco. The Port commission granted of right for exclusive negotiating to the joint development team and gave a four-month window for them to drop the project without a fee. The development is expected to raise $1.18 billion in private investment for construction, which excludes the cost of funding for the 150-unit affordable residential building.
A new rendering has been released for a large mixed-use development at 147 East Santa Clara Street, located across from city hall in Downtown San Jose. The details come from Urban Catalyst, who earlier this year launched the Urban Catalyst Opportunity Zone Fund II LLC, or “Fund II.” Fund II will focus on building multi-family rentals and office buildings in Downtown San Jose over a ten-year timeline with a minimum investment of $250,000.