Having broken ground at the end of 2016, the 55-story tower and two podium buildings rising along Folsom Street, on Transbay Block 8 between Fremont and First, are now expected to be ready for occupancy in the second quarter of 2019.
As designed by Fougeron Architecture, the two podium buildings will yield 80 below market rate apartments which will be managed by the Tenderloin Neighborhood Development Corporation and be made available to families earning up to 50 percent of the Area Median Income (AMI). The podiums are expected to be construction complete in April of 2019.
And as designed by OMA (Office of Metropolitan Architecture) for Related California, the 55-story tower rising at the corner of Folsom and First, behind the podium fronting Fremont, will yield 118 condos over 350 apartments (70 of which will be offered at below market rates) and should be ready for occupancy in May of next year.
Keep in mind that an operator for the downsized grocery store space at the base of the development , which Whole Foods had been eyeing, has yet to be secured.
And if a lease hasn’t been inked at least 12 months prior to the anticipated completion date of the grocery store space, Related can seek approval from the City to reprogram the 12,500-square-foot space for another use. We’ll keep you posted and plugged-in.