June 23, 2016
A joint-venture that includes Houston-based Hines, San Francisco-based Urban Pacific Development LLC and Goldman Sachs Group Inc.’s Broad Street Principal Investments LLC completed the acquisition of the last remaining public development site in the Transbay district for $160 million. The Transbay Joint Powers Authority, which controlled Parcel F on Howard St., selected the group to develop its last high-rise site.
The Cesar Pelli- and HKS Architects-designed tower could rise as tall as 750 feet and include up to 300 hotel rooms, 200 residential units, up to 425,000 square feet of office space, as well as 15% affordable units. The developer must secure entitlements, go through city planning reviews, and be in compliance with Prop. M annual development allocations.
The development team plans to break ground within a year for a tower expected to be completed by 2020.