555 Fulton Street Stalled

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).

555 Fulton Rendering

21 thoughts on “Hayes Valley Development Grinds to a Halt, Here’s Why”
  1. 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.

  2. Remember a couple of years ago there was a big port strike and caused delays to a few major projects downtown.

  3. 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.

  4. 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

  5. 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.

  6. 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.

  7. 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.

  8. 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.

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