Purchased from Macy’s for $250 million early last year, plans to redevelop the iconic I. Magnin Building on the southwest corner of Geary and Stockton, across from Union Square, have been drafted by Handel Architects for the Sand Hill Property Company, as newly rendered below.
As envisioned, the proposed $70 million redevelopment would “preserve what makes the [building’s] architecture iconic,” while “enhancing and modernizing” that what does not, and yield a “21st century world-class, mixed-use development,” with 65,000 square feet of upgraded retail across its first three floors and basement levels; 91,000 square feet of office space on floors 4 through 8; and a total of 21 residential condos across the building’s top three floors (9-11) along with a new solarium and roof deck for its residents.
From the project team: “To accommodate the new retail, office, and residential uses, [the team] also seeks to introduce exterior modifications to [233 Geary’s] tripartite facade: increased storefront transparency at floors 1-2 for street activation and Union Square vibrancy; increased window height and additional corner windows at floors 4-10 for office and residential viability; and [the] reintroduction of windows to the top floor for residential viability and the creation of a unifying 233 Geary building crown.”
Built in 1905 for medical office and commercial use, the then Beaux Arts “Butler Building” was transformed into the Late Moderne Style “I. Magnin Building” circa 1946 and absorbed by Macy’s in 1996.
And as the existing building currently contains 51,000 square feet of grandfathered office space, the project would not need to qualify for a scarce “large project” office space allocation for the additional 40,000 square feet of office space as proposed.
We’ll keep you posted and plugged-in.