SHVO, the new owner of the Transamerica Pyramid and two adjacent buildings, has started renovations of San Francisco’s iconic property with an official ceremony. Though not a traditional groundbreaking event, dirt was shoveled by many important local representatives next to Michael Shvo. Plans for renovating the 50-year-old landmark are designed by Foster + Partners.
Vornado Realty Trust has commissioned Fogarty Finger, a New York City-based architecture firm, to revamp the interiors of 555 California Street, located in San Francisco’s Financial District. The firm will oversee the refurbishment of the 34th and 46th floors to entice new tenants into one of the city’s most prominent office buildings. Work is expected to finish by July this year.
Construction work has begun on the renovation of San Francisco’s most iconic skyscraper, the Transamerica Pyramid. The project is led by the New York City-based property owner, SHVO, with design by Foster + Partners. Focused on the public open space and the pyramid’s interiors, phase one will reemphasize the iconic modernist design inside, update the offices, increase on-site amenities, and lease 45,000 square feet for a Manhattan-based elite social club, all in a bid to elevate the pyramid from a visual marvel into a magnetic destination for both tenants and the public.
Development permits have been filed seeking the construction of a mixed-use project proposed at 425 Broadway in Jackson Square/North Beach, San Francisco. The project proposal includes the development of a building offering retail and residential spaces. Plans call for the demolition of an existing 144-space parking garage on the site. San Jose-based Yeh’s Development is responsible for the project through Montgomery Place LLC. Ian Birchall & Associates is responsible for the design.
Plans to expand the commercial office building at 545 Sansome Street in San Francisco’s Financial District that were first filed in early 2020 are still under review, with updates in late 2021. The application, started under the previous owner, Aegon, has continued after the $650 million bundle-sale of the property with 505 Sansome Street and the Transamerica Pyramid in February of 2020 to New York-based SHVO. This week, the developer enflamed tensions in the city by announcing it would not renew the lease for Sai’s Vietnamese Restaurant, which has operated from the property for 37 years. Now, SHVO promises to assist in searching for a new permanent home for Sai’s while city officials look to provide more stability for the family business.
