Following an unusual permit for 900 7th Street in Mission Bay, as covered by SF YIMBY last week, recent news has broken that the application is a proposed new distribution center for Amazon. The tech giant has reportedly purchased the lot for $200 million. Amazon’s proposed Logistics Facility will replace Recology’s proposed mixed-use 470-550-unit project designed by SOM.
Recent permits have provoked confusion concerning the 5.8 acre-parcel at 900 7th Street in Mission Bay, San Francisco. Recology, a San Francisco-based company, is the current property owner and has been since the 1970s. SFYIMBY confirmed with the developers that their proposed 1.2 million square foot mixed-use development, designed by SOM, is very much an active project. We had to verify this because of a recent project review meeting application for a commercial facility on the same land. Recology learned of the contradictory permits because of our correspondence.
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.
Ventas has purchased the recently completed Genesis Office Complex for $1 billion. The project, which features two sleek glass towers, will add considerable depth to the companies growing portfolio of properties. Genesis wrapped up construction in 2019, yielding 721,000 square feet of office space for the South San Francisco market.
A 42-story residential tower planned for 95 Hawthorne Street has made another step towards its realization. Permits have been filed for the new building in SoMA, San Francisco, starting the process for construction to begin. A total of 412 dwelling units are planned for the building, a twenty-unit increase since its approval in the second half of 2019. Skidmore, Owings & Merrill will be responsible for the design.
