The paperwork to secure the building permits for the proposed 40-story Hub District tower to rise up to 435 feet in height at One Oak Street – at the prominent intersection of Oak, Market and Van Ness Avenue – has been filed.
And with the project team preparing for the public hearing at which the 304-unit development could be approved and its Impact Report certified, SCB and Snohetta have refined the design for the tower and its podium, as rendered with Trumark Urban’s adjacent 12-story building to rise at 1554 Market Street for context.
The proposed development includes 4,000 square feet of restaurant/retail space at the base of the tower, primarily fronting Market Street and adjacent to a new 15,000-square-foot “Oak Plaza” on the corner and upon the existing Oak Street right-of-way.
Assuming the One Oak project is approved, it will take an estimated 32 months for Build Inc. to build once the ground is broken.
And once again, the condominium development will be 100 percent market rate as the team plans to pay an in-lieu fee to meet the City’s inclusionary housing requirements, a fee which is envisioned to fund the development of below market rate (BMR) units along Octavia Boulevard on former Central Freeway Parcels R, S and U.