As we revealed earlier this year, plans for a 35-story tower to rise on the 90-space parking lot parcel at 395 3rd Street, on the northeast corner of 3rd and Harrison, cater-corner to the approved One Vassar development and a block away from the approved tower to rise at 95 Hawthorne Street, were in the works.
As envisioned, the tower would rise up to 347 feet in height, with 559 apartments (a mix of 127 studios, 207 one-bedrooms, and 225 twos) over 7,500-square-feet of ground floor retail space and a basement garage for 140 cars, levering California’s Density Bonus law to build above the 200 foot height limit for the site and secure a waiver from the open space requirements for the site.
While Planning’s preliminary review of the project did raise a few design considerations and minor modifications that may be required for compliance, the project was found to be “generally consistent” with the overarching objectives of the City’s Central SoMa Plan. And Strada’s formal application to move forward with the development was just filed with the city.
We’ll keep you posted and plugged-in.
Excited to see this get built!
Unfortunately, this project likely won’t be built for years. Similar to the other two mentioned projects.
The 395 Third parking lot is small. The proposed tower will have to be built basically lot line to lot line and even with a setback at 10 or so stories it will be a “monster on Third and Bryant”. Much nicer is Vassar where there would be critically needed street level open space – the winter garden.
Third and Harrison.
It would be nice to see any one of the projects within these few blocks get built! Unfortunately, the likely fate seems to be stalling out.
There have to be nearly 20 proposed projects within 4 blocks of here, non of which seem to be actively (or at least apparently) moving forward.
Yes, this will likely stall out (BTW, a large hotel tower proposed for near Folsom and Second has seemingly stalled too). I think a big part of it is that these were and are entitlement plays by the developers. Garner the entitlement and sit on it hoping to sell at a big profit as the promised 45K new jobs from the Central SOMA plan emerge. Note all these projects are right on the edge of that area.
But best laid plans. Covid, a major shift in how and where people work and the probability that most of those planned for new jobs won’t appear (and existing jobs may disappear – Scribd announced today it is putting all its SF office space up for sublease) makes the entitled housing in this area less a sure bet and perhaps not even economically viable. Don’t hold your breath.
Well I think part of the problem is that the building pipeline has been disrupted.
Covid made it impossible for contractors to provide building cost estimates, massively slowed down existing construction due to distancing requirements, and now supply chain issues with construction materials. That means new project starts are delayed and existing projects slowed down.
I guess eventually everything will go back to normal speed at least for awhile since in many cases funding was already lined up, property purchased, etc. I don’t think office space going up for sublease will have a long term impact given that space will always be in demand as a result of prop M, it might just be slightly more reasonably priced. Developers will still make money.
UPDATE: Revised Plans for New Tower Approved for a Streamlined Review