September 25th, 2008
San Francisco Development Update: 350 Mission Renderings Online
The future appearance of 350 Mission Street is now available for viewing on the official website of the development team working on the project. The property, on the corner of Mission and Fremont, was discussed in a previous post back in July when it was announced that the structure will be LEED certified, 27 stories high (well under zoning limits), and across the street from the planned Transbay Terminal. Socketsite brought the site to my attention and pointed us towards the renderings.
Will this project receive the financing it needs to move forward in the midst of a credit crisis? Will tenant demand at the time of completion be enough to fill a beautiful project like this? Will the costs and profits necessary to build a building such as 350 Mission Street be higher than the potential rental income available in our market at that time?
These questions do not have answers now, but I feel comfortable that our office market will be strong in the future, and we will need new buildings to house strong companies. The timing of the current economic downturn is not helpful, but San Francisco buildings are long lasting and 350 Mission will be a key part of our financial dustrict for a very long time.
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[...] According to J.K. Dineen of the San Francisco Business Times, 350 Mission Street plans on seeking LEED Gold certification, and will use Styrofoam and plastic bottles in place of some of the concrete to achieve this goal. This new technology is intended to lighten and strengthen the foundation and super-structure, and it will add to the overall greening of Mission Street, which is quickly becoming the new center of downtown San Francisco with nearby developments underway. (Updated renderings here) [...]