Recent demolition permits have been filed to make way for a mixed-use 18-story tower at 921 Howard Street in SoMa, San Francisco. The permits receive prioritization thanks to the 2013 Executive Directive #13-01, signed by the late Mayor Edwin Lee. The Tenderloin Neighborhood Development Corporation is the property owner and is overseeing that all 203 units will be sold as affordable housing.
Construction is progressing for a new small-scale office infill at 340 11th Street in SoMa, San Francisco. The project will bring 24,990 additional square feet to an area known to attract tech start-ups. The four-story building rises 55 feet tall, providing extra ceiling space. Along with 14,775 square feet of office space, 4,350 square feet will be opened as ground-floor retail.
Permits have been filed to erect a 40-foot tall industrial building at 10 Heron Street in SoMa, San Francisco. The scope of work includes demolishing a 1-story industrial building and replacing it with a 4-story mixed-use building. The construction will consist of commercial space on the ground floor, eleven residential units, and on-ground parking for two automobiles. RG Architecture is managing the project.
A recent site visit by SF YIMBY has shown that the fourth and final expansion of the Trinity Place residential block in SoMa is nearly complete. The exterior has been almost entirely sealed up for 1177 Market Street, though scaffolding remains in the Market street portal through the building to the courtyard. Whole Foods will be an anchor tenant for the project, opening up its largest store in the city. San Francisco-based Trinity Properties is responsible for the development.
Singapore’s Ascendas Real Estate Investment Trust, or Ascendas REIT, recently purchased two buildings in San Francisco for $572 million. Alexandria Real Estate Equities (ARE) and TMG Partners are on the other end of the move, parting with their partnered ownership of 505 Brannan Street and 510 Townsend Street in the SoMa neighborhood. This transaction follows the pair’s recent success in selling the 945 Market Street mall to Ikea. The deal marks Ascendas’ introduction to the Bay Area real estate market.