It’s true, the two adjacent buildings at 657 Mission and 667 Mission Street have traded hands, purchased from separate sellers by Chinese developer Vanke and local partner Align Real Estate, as reported by the San Francisco Business Times.
And according to the Business Times, the two buildings, which are currently a combined 65 percent occupied with short-term leaseholders, “could be renovated to become co-working space.”
But there’s an unreported aspect to the story of which you might want to be aware, especially if you’re a current owner or looking to live in the 42-story St. Regis next door.
While both 657 Mission (a.k.a. the six-story McLaughlin Building) and 667 Mission (a.k.a. the four-story Grant Building) have been identified as historic resources, they sit on parcels which are zoned for development up to 350 feet in height.
And prior to the sale of the two buildings having closed escrow, a team quietly met with the city to explore the potential for “a vertical addition” across the assembled sites.
We’ll keep you posted and plugged-in.