As we first revealed earlier this year, plans to redevelop the iconic I. Magnin/Macy’s Building on the southwest corner of Geary and Stockton, across from Union Square, were in the works, plans which included the addition of 21 residential condos atop the building; the conversion of the building’s middle floors into modern office space; and an “enhancing and modernizing” of the building’s exterior by Handel Architects.
The plans have since been refined to yield 23 condos and an additional 2,000 square feet of office space (for a total of 93,000 square feet), with 60,500 square feet of upgraded retail space (which is down from around 65,000 square feet of upgraded retail as first proposed).
As the existing building is grandfathered for 51,000 square feet of office use, the refined plans would not need to qualify for a scarce “large project” office space allocation in order to proceed.
And noting an “accelerated need to create spaces that encourage health and nurture vibrancy revealed by the current COVID-19 pandemic,” the Sand Hill Property Company has now submitted its formal application to proceed with the redevelopment, a project that is positioned as “a balance between our modern needs for finding new ways to live, work and shop and our eternal need to embrace our history through preservation.”
We’ll keep you posted and plugged-in.