The 5M mixed-use development marks construction milestones for a new residential building with 302 rental units, including 91 units affordable for middle-income residents, and the new Mary Court park and children’s play area
San Francisco, CA, April 8, 2020 — Mayor London N. Breed and Brookfield Properties today celebrated the groundbreaking of the new Mary Court park and the topping out of the 434 Minna residential building that will contain 302 rental units, including 91 units affordable for middle income residents, in the SoMa neighborhood. The milestones are at the 5M mixed-use project under construction, with the first phase expected to open in fall 2021.
“Even with the challenges of this past year, 5M has continued to make important progress building much-needed housing and creating new open space in San Francisco,” said Mayor Breed. “This project has kept people working at a time when many lost their jobs and represents a commitment to our downtown and our City’s future as we move forward with our recovery. The 5M project demonstrates that when we work together and focus on delivering results, we can build housing that will support our City for years to come.”
5M is located on four acres bound by Mission, Fifth and Howard streets and broke ground in 2019. In partnership with Hearst, Brookfield Properties is transforming empty parking lots and underutilized buildings into a pedestrian experience with new housing, public open spaces, offices, retail and restored historic buildings.
434 Minna will provide market rate rental units and affordable units at 100-120-150% of San Francisco Median Income (AMI). The 20-story building is located along a pedestrianized Mary Street that will include local retailers. Also opening this fall will be: 26,100 square-feet of the total 49,000 square-feet of parks, play areas and open space; the new 415 Natoma office building; the repurposed historic Camelline building as retail; and, the historic Dempster building that Brookfield Properties dedicated to CAST (Community Arts Stabilization Trust) for arts, cultural and educational uses and programing. Overall, when completed, 5M will create approximately 856 total new residential units onsite and in the neighborhood, including 245 affordable residential units for middle-income households, seniors and formerly homeless families.
“5M will help to address the City’s housing needs and the new Mary Court will provide much-needed public open spaces to the SoMa neighborhood. The project is creating a hub of community activity with programming for the arts, music, educational programs and cultural celebrations,” said Brookfield Properties Development Director Christie Donnelly, who is overseeing open space and residential development at 5M.
A performance stage adjacent to the Dempster Building will step down to grassy areas with sculptural elements, trees and seating. A children’s play area will contain soft, climbable structures and ornate screens inspired by Filipino textile patterns. A dog run adds an amenity lacking in the neighborhood. These areas are privately owned and programmed public open space.
“Downtown parks should be for all people, of all ages, and all backgrounds to truly serve the community. The neighborhood really needed a children’s play area and the developer listened to us and made it happen,” said Misha Olivas, Director of Community and Family Engagement for United Playaz, a violence prevention and leadership development organization for young people.
“The project was created from a decade of partnership with the community and the City. These milestones underscore our commitment to the neighborhood and our belief in San Francisco’s ability to rebound from turbulent times,” said Swathi Bonda, Sr. Director, Development for Brookfield Properties.
Master planning for the site was done in partnership with SITELAB Urban Studio. !melk and Cliff Lowe Associates designed the open spaces. The 434 Minna Street residential building is designed by architectural firm Ankrom Moisan and constructed by Build Group Inc. Architectural Resources Group is leading the rehabilitation of the historic Dempster building. Architect KPF designed the 415 Natoma office building, while House & Robertson Architects are the executive architects and Swinerton Builders are constructing the building.
SITELAB urban studio Principal Laura Crescimano, said, “Inspired by SoMa and its network of alleys, 5M’s design weaves together a tapestry of neighborhood history, arts, and business with new public space at the center.”
For a decade, Brookfield Properties has worked with local small businesses and community organizations to identify and refine $76 million public benefits to be funded by Brookfield and Hearst. Today, a 5M Community Advisory Committee of residents, nonprofits and local businesses continues to work with Brookfield Properties on community programming and neighborhood improvements. In addition to substantial funding for affordable housing, transit and pedestrian safety improvements, 5M has already provided millions in public benefits, such as support to the San Francisco Arts Commission; improvements to the Old Mint Mall across Mission Street from the project; an arts and non-profit endowment fund; a local capital fund for neighborhood youth organizations; programming for the Bessie Carmichael School, non-profit facilities, and the Gene Friend Rec Center; and, funding for the SOMA Pilipinas Filipino Cultural Heritage District.
About Brookfield Properties
Brookfield Properties is a leading global developer and operator of high-quality real estate assets. We are active in nearly all real estate sectors, including office, retail, multifamily, hospitality and logistics, operating more than 650 properties and nearly 325 million square feet of real estate in gateway cities around the globe on behalf of Brookfield Asset Management, one of the largest asset managers in the world. With a focus on sustainability, a commitment to excellence, and the drive for relentless innovation in the planning, development and management of buildings and their surroundings, Brookfield Properties is reimagining real estate from the ground up.