By Jon Peterson
The Northern California regional office for Trammell Crow Residential has been awarded entitlements for its future apartment development project located at 95 Hawthorne in San Francisco. This project will cover a total of 392 residential units and 3,500 square feet of retail space.
“We are excited to get city approval and move forward with the project. Out next step for the project will be to file for permits. This will likely take another 12 to 18 months. Construction for a project of this size will likely take another 18 months to complete once we get started,” says Brice Dorfman, senior manager director for Trammell Crow Residential. He works out of the company’s regional office in Mill Valley.
Since there is still some time before the project gets under way, it is hard to determine the actual cost for the development at this point in time. “With construction costs rising on a daily basis, I don’t know at this time what the potential cost of the project will be,” said Dorfman.
Trammell Crow Residential was brought into the project by the property’s owner, John Hancock Life Insurance Company. This is the first project that these two firms have come together to develop in Northern California. The site now is occupied by a vacant, five-story 84,000 square feet office building. The partnership will work with famed Chicago-based architects Skidmore Ownings & Merrill on the project.
The new development is planned to have a combination of one, two and three-bedroom units. The project will have 55 units in the complex that will be set aside to meet the city’s below market rate requirements. In addition, the property will feature a subterranean parking facility with .25 parking spaces per unit or a total of 100 spaces. Some other amenities will include car-share spaces and bicycle parking.
The project is, however, proximate to public transportation, and the development team hopes those living in the building will utilize those transportation systems. BART, various Muni lines and Caltrain are all within walking distance of the property. The building is also within walking distance of the future Central Subway and the Transbay Terminal neighborhood, which has emerged as a new economic and job creation center in the city.