SAN FRANCISCO (January 31, 2018) – F4 Transbay Partners LLC (F4), a joint venture of international real estate firm Hines; Urban Pacific Development, LLC (Urban Pacific); and Broad Street Principal Investments, L.L.C., an affiliate of Goldman Sachs, announced today the submittal of their revised development plans for 542-550 Howard Street (also referred to as Transbay Parcel F) to the City of San Francisco. Transbay Parcel F is being proposed as a mixed-use development on the north side of Howard Street at the western end of the new Transbay Transit Center. The resubmittal, filed on January 23rd, follows a year’s worth of focused planning and design effort in close coordination with the City of San Francisco.
“Our revised plans for Parcel F are the product of an exceptional collaboration with Planning Department and other City staff, the Transbay Joint Powers Authority, and the local community, which have resulted in what we feel is a significantly improved design,” said Hines Senior Managing Director Cameron Falconer. “As we near the end of Parcel F’s environmental review, we look forward to continuing our progress and shared vision with the City and our community stakeholders. We are proud to propose this Project as a capstone to the burgeoning neighborhood of Transbay.”
The refined plans for 542-550 Howard maintain the original submittal’s vision for a unique vertical mixed-use community, and call for a 61-story, 800-foot tall mixed-use tower containing 251,000 square feet of Class A office, a 210-key luxury hotel, 170 residential units, 79,000 square feet of shared amenity space, and over 9,000 square feet of public-serving retail. The updated designs also provide a refined through-block pedestrian passageway from Howard to Natoma streets, a dramatic public elevator connection to the Transbay Transit Center Rooftop Park via a fifth-floor sky bridge, and over 10,000 square feet of public open space. A hotel flag for the Project is expected to be announced in the coming months.
Parcel F is the last remaining site available for development of a super-tall building in downtown San Francisco, and one of only three projects that features a direct public connection to the Transbay Transit Center Rooftop Park. Once completed, Parcel F will be the fourth tallest building in San Francisco and the only mixed-use project to include residential, office, hotel and retail uses in a single tower. The project is being designed by Pelli Clarke Pelli Architects in partnership with the local office of HKS Architects, Inc., acting as architect of record.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totaling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
About Urban Pacific Development
Urban Pacific Development is a privately held real estate firm focused on large-scale, transformative urban investment and development. With a long track record of successful commercial and residential investment activity, Urban Pacific is active in San Francisco, San Diego, Chicago, and other top tier west coast cities. The firm’s resume includes rehabilitation and repositioning of historic commercial buildings, and ground-up development of mixed-use properties and high-rise towers, such as One Rincon Hill in San Francisco. With over 4,000 residential units developed over the last 45 years, Urban Pacific combines vision, entrepreneurial flexibility and business acumen with a commitment to the strictest standards of quality. Visit www.urbanpacificsf.com for more information.