Construction work is progressing for the two affordable housing projects rising on Transbay Block 2 in East Cut, San Francisco. The update comes just five months after the groundbreaking for both projects, led by separate developers. Concrete is already rising for the senior housing complex, with the foundation already dug for the family housing. Once complete, the site will provide 335 new homes.
The San Francisco Board of Supervisors is scheduled to vote later today to provide a $115.8 million construction loan for affordable housing at Transbay Block 2 East. The proposal is expected to rise 17 stories tall and bring 184 below-market-rate rental apartments to 200 Folsom Street in the heart of the densely-developed Transbay neighborhood. Mercy Housing is the project sponsor.
It has only been two weeks since plans were first announced for the region’s potential second-tallest residential tower, and a flurry of permit activity has already been submitted to the city’s Planning Department. The 72-story proposal for 530 Howard Street is expected to rise 844 feet tall, among the tallest in the country, and could become the third or fourth tallest skyscraper in San Francisco. Bayhill Ventures, the project developer, has also submitted a request for new building permits.
Bayhill Ventures has announced plans for a new skyscraper at 530 Howard Street, overlooking San Francisco’s Salesforce Park. Initial plans shared with media this morning suggest the tower would stand 840 feet tall, making it the third tallest structure in the city skyline if built today and the second tallest in the city’s pipeline. Bayhill Ventures is a relatively new firm led by the former chief at Hines, Paul Paradis, and former president of the Sobrato Organization, Rob Hollister.
The San Francisco Civic Design Review Committee is scheduled to review plans for the Transbay Block 3 park during a public meeting next Monday. The plan will create a new one-acre landscaped destination between two dense housing plans on the former temporary Transbay Bus Terminal in SoMa. The San Francisco Public Works department is the landscape architect.
