Permits are approved, and construction was expected to start two years ago, but now the site remains undisturbed while the project developer has received an extension for two loans totaling $80 million. Both JPMorgan Chase Bank and United Overseas Bank have pushed the deadline for Hines through October for two $40 million loans pertaining to the 61-story proposal at 550 Howard Street in SoMa, San Francisco. If built today, the mixed-use tower could become the fourth tallest tower in the city.
Images from a YIMBY reader show most of the first building’s steel framework has been erected at Southline, a massive life sciences development in South San Francisco, San Mateo County. The new purpose-built laboratory is the first of eleven structures that will occupy the 28.5-acre master plan. The first phase of construction has seen Beacon Capital Partners join Lane Partners and Goldman Sachs in the ownership group.
Goldman Sachs Asset Management and Lane Partners have announced the completion of a recapitalization for the first phase of Southline in South San Francisco, San Mateo County. Southline is the master plan for 28.5-acre development across from the San Bruno BART Station with 2.8 million square feet of life sciences and offices couched with acres of landscaping and a new public park. Construction has already started for the first of two buildings in phase one.
The South San Francisco City Council has unanimously voted to approve Southline Specific Plan, a dense 28.5-acre campus across from San Bruno BART Station in San Mateo County. The project approval marks a significant step toward construction. Lane Partners is sponsoring the development.
The San Francisco Planning Department has approved rezoning Transbay Block 4 to conform with the 47-story proposal by Hines in SoMa. The 513-foot tower will exceed the 400-foot height limit for the parcel at 200 Main Street, creating 681 new homes, of which nearly half will be designated as affordable. Groundbreaking is expected by late 2023 or 2024.