Independent of any ongoing impact related to the pandemic or economy in general, the proposed phasing and building timeline for the massive redevelopment of the 29-acre Potrero Power Plant site has been amended and approved.
Rather than building in six phases over the course of 16 years, the team is now planning to develop in three phases, “depending on market conditions,” over the course of the same 16 years, with the first vertical construction of a 435,000-square-foot office building on Block 15 slated to commence in 2023 and be finished in 2026.
Under the revised phasing, as outlined on a block-by-block basis below, the first phase of development would be completed in 2028, with an overlapping second phase running from 2026 through 2031 and the third and final phase of the development wrapping up construction in late 2035 (assuming it commences in 2030).
In addition, the number of residential units to be built across the site has been reduced from a maximum of 2,601 as approved, to a maximum of 2,477 as re-phased, with an additional 17,000 square feet of office space (for a total of 831,606), and 24,000 square feet of less retail space (for a total of 75,239), to be constructed overall.
We’ll keep you posted and plugged-in.