Formal plans have been filed for 50 1st Street in SoMa, San Francisco. The latest application provides details about the 913-foot tower, dubbed Fifty at First, as well as more information about the potential mixed-use second phase at 528 Mission Street. The San Francisco Recovery Fund is overseeing the development.
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.
The long-delayed Oceanwide Center project in San Francisco’s SoMa Neighborhood may be getting new life with a deal to change the property’s ownership. Last week, a new developer put down a nonrefundable deposit on the 50 First Street site, with hopes of closing a full deal within the next two months.
In honor of New York YIMBY’s Turkey Week tradition of spotlighting stalled projects, we’d like to highlight the one big project that comes to mind for San Francisco. Oceanwide Center was meant to produce the second-tallest skyscraper in the city, with a unique geometric structure designed by Foster + Partners. Today, the property at First and Mission remains an unfinished hole in the ground, collecting dust and water.
In January of 2021, the Oceanwide Center in San Francisco was expected to become the second tallest tower in the Bay Area. Construction was put on hold in October of 2020, and subsequent issues throughout 2021 have imperiled Oceanwide’s plans. However, foundation work is complete, and there remains hope that a new developer could pick up and finish the highly anticipated 910-foot tower designed by Foster + Partners.