At first glance, it’s just another move. Upon closer inspection, however, it’s poignant commentary on the springtime rush to renovate and the heightened demand for construction dumpsters (and perhaps lack thereof) in San Francisco.
On a much smaller scale, perhaps not too dissimilar from the shortage of labor and materials that Jeff Hutchinson of Monahan Pacific recently cited as their reason for canceling plans to build a condominium tower at 535 Mission.
“With all the residential that is being built, it’s tough to get a crew,” said Hutchinson. “We would have been fighting for a tower crane reservation. There is a waiting list for man lifts. Given that type of environment and given that it was going to get worse before it would get better, it was not readily apparent that the costs would settle.”
Wonder if Penske rents anything that could double as a tower crane or man lift…
∙ Developer drops plans for condo tower [bizjournals]