We had the scoop on the construction of 5800 Third Street shutting down. And now J.K. Dineen has the scoop on it starting back up.
Goldman Sachs Urban Investment Group has tapped veteran builder Rick Holliday to jump-start a 340-unit housing project at the former Coca-Cola bottling plant on Third Street. The $150 million project has been on hold since April when the former developer, Noteware Development, ran into financial trouble.
The first phase of the revived project, 140 units of housing and the city’s first Fresh & Easy grocery store, is now on track for completion in a year to 14 months. The podium of the building at 5800 Third St. was 80 percent complete in April when construction was shut down.
Let us know what you see from the train.
Do we know if this also mean that the other Noteware Development/Goldman Sachs Urban Development on Jamestown Ave. called “The Heights” is set to resume under Rick Holliday as well? When that project stopped a sellers office had already been set up and i believe they had already had a model showing to Agents/Brokers, at least for the first phase of development.
[Editor’s Note: The Heights At Candlestick “On Hold” According To The Sales Center (and we don’t)]
ut-oh. wonder which marketing company will sell it. seems like a bit of a conflict.
weird…maybe Goldman Sachs Urban Investment didn’t get the memo…but speculative new developments in SF are on the outs.
How is this speculative? There is already an anchor tenant, “Fresh & Easy.” I think it would be a more successful development as apartments instead of condos. Who is going to buy these if all we keep hearing is that the surrounding African American community is leaving and selling their homes in droves?
It’s now 19 months since the new developer said it would be a year to 14 months until the first phase of the 5800 condo project is completed and ready. Last time I went by, about 2 months ago in late February, it wasn’t finished.
Does anyone have an update on if that first phase is done? On the status of the development?