Hayes Valley Development Grinds to a Halt, Here’s Why
July 27, 2016
Speaking of new developments in Hayes Valley, if it feels like construction on the 139 condos and grocery store space at 555 Fulton Street has ground to a halt, you’re not mistaken.
But until the waylaid exterior glass panels for the building, a custom designed skin which features horizontally striped glass in two offset panels to assist the privacy of the units along Birch, arrive on site, not much more is going to happen and the delivery date for the development will remain up in the air (or out to sea, as the case may be).
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ouch. that must sting. nothing like a major project delay to ensure smaller margins.
Who is the General Contractor?
It’s in-house from the Chinese developer from what I’ve heard.
explains the ugliness….
So… the glass is the only thing holding this project up? And for what feels like a year… seems to me like there’s got to be another larger issue that isn’t being shared.
Remember a couple of years ago there was a big port strike and caused delays to a few major projects downtown.
Yes, it even delayed my little remodel a couple of months.
this is almost a year old, but there is an overall problem with glass procurement. Particularly if you are building a small, boutique building with small quantities of custom work.
I met this Chinese developer/builder team about a year ago and they had little or no knowledge of construction processes in the U.S. I wouldn’t be the least surprised if they tried to manufacture the product themselves.
sounds safe…
Thanks for the update on this; I’ve wondered why it was stalled. For a time in the winter, it was wrapped in plastic, which made me think Christo was the general contractor. Whenever I pass the on-site sales office, the first conclusion I’ve drawn is that they just need to sell a few more units and they’ll have enough money to finish. Of course, selling condos without exterior walls or much else is a tall order.
I dunno, the current brutalist al fresco look is nice too. 🙂
Post-Aleppo architecture is the hottest thing going these days.
History Record #1: FINANCE
Mortgage Recording Date: 06/12/2015
Mortgage Transfer Type: Stand Alone Finance
Mortgage Document #: 00000K075031
Lender: Nanyang Com’l Bk
Document Type: Trust Deed/Mortgage
Loan Amount: $42,750,000
Borrower 1: Fulton Street Ventures Llc
Speaking of project grinding to a halt, what’s happening with the project at Washington and Van Ness?
To save money (who cares about keeping jobs in this country), the glass was probably ordered overseas. I remember reading a while ago that when ordering overseas there were issues with late delivery and manufacturing.
MO you are spot on. The subcontractor responsible for the glazing is the same one that caused the Solaire project to be delivered over a year late. Why anyone would use them again is beyond me. I wonder how the developer feels about the overseas “savings” now.
Is something similar going on at Salesforce Tower? I notice they finally have some of the 2nd and third floor glazing staccked up ready to install but given the number of floors that have steel in place you’d think installation of glazing would be in full swing by now as it is at the nearby (and now not as tall) 181 Fremont.
Can be curtain wall delays in a very busy market, but its kind of an amateur-hour mistake to make. Incompetence. Bigger issue if this is not exactly hayes valley location. Someone was “sold” on that marketing idea. When market drops this will drop the fastest. Last in / first out. Meaning a 6 mo construction screw up could be very costly indirectly. Litigation coming if it goes long.
UPDATE: Waylaid Hayes Valley Grocery (and condos) Aiming to Open in 2018
UPDATE: Waylaid Hayes Valley Development Spurs a Slew of Subpoenas