The proposal for an eight-story mixed-use building at 955 Post Street is heading to the San Francisco Planning commission today at 1:00 PM. Developers hope to bring sixty-nine new residential units in the Polk Gulch neighborhood, of which seventeen will be sold as affordable housing. 955 Post LLC 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.
Reporting by the San Francisco Business Times reveals that Oceanwide Holdings have paused construction for the much-anticipated Oceanwide Center at 50 1st Street in SoMa, San Francisco. While crews have recently completed the foundation, this announcement makes clear that the structure will not be rising soon. Once resumed, it becomes the second tallest building in Northern California and fourth tallest in the state.
Permits have been filed for a new three-story educational building at 560 Fremont Road on Stanford’s Santa Clara County campus. The development will require over 4,200 cubic yards of land moved for grading, suggesting a sizable footprint. The site is accessible to transit via either Stanford station or Palo Alto station and Caltrain, a busy commuter rail corridor connecting San Francisco to San Jose, along with other suburban towns and cities it passes through.
Permits have been filed for a four-story residential structure at 5728 Kemper Place in the Hyde Park section of the Boulevard development, Dublin. The location is just a nine-minute walk away from the Dublin/Pleasanton BART station, which runs through San Francisco and Oakland. Dublin and Pleasanton are also invested in bus lines throughout their towns, giving transit options across the Tri-Valley. Brookfield Calwest Builders LLC is responsible for the development.