As newly rendered by SOM along with the first two Hub District towers that have risen at 1580 Mission and 30 Otis and already yielded nearly 1,000 units of housing, the modified plans for the three towers to rise at 98 Franklin, One Oak and 10 South Van Ness are slated to yield another 1,800 units, which doesn’t include the 333-unit tower that’s rising at 30 Van Ness nor the potential for a 650-foot-tall tower to rise at 1 South Van Ness.

Comments from Plugged-In Readers

  1. Posted by Fact

    Are these actually going to get built with the way the market is being re-valued now?

    • Posted by sf

      I don’t know, San Francisco being the 8th most expensive city in the world might mean the economy is weak?

      • Posted by Fact

        Condo price drop 25%. That’s the developer profit margin. Why should developer dump more inventory on the market and be competing against himself?

        • Posted by Looking Up

          There’s this crazy new business model called “renting” that you might want to factor into your thinking.

          • Posted by Sierrajeff

            Developers can’t just flick a switch and change a building from condo to rental. Certainly the change can be done, but it’s more than just changing the sign out front from “For Sale” to “For Lease” – developers need to change their models to account for retaining ownership of unit interiors (and refurbishing them on move-outs) and ownership of the units’ fixtures and appliances – as well as the host of regulatory requirements for being a residential landlord. And certainly if the developer has already lined up financing, then they’d need the lender’s approval (which usually requires jumping through a multitude of bean-counting hoops … and in this financial marking, making concessions to the lender too).

        • Posted by jimbo

          don’t they factor in what anticipated prices will be in 5 yrs when projects expected to be completed? i fully expect a 25% hit, but think we will be back + some in 5 yrs

          • Posted by Fact

            Yeah right because all those downtown office workers will need the location?

  2. Posted by Sutro_Tower

    Minor observation, looks like 30 Van Ness is missing in the rendering even if just a sliver would be showing from this angle.

  3. Posted by Rstr

    What happened to One Oak?? It used to be so interesting and they completely dumbed it down to that ugly thing.

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