June 17, 2008

535 Mission Update: Parking Lot Closed And About To Break Ground?

535 Mission: Site Cleared (Image Source: Downtown Dave at Skyscraperpage.com)

From a plugged-in reader:

I was reading the forum over at skyscraperpage.com and it seems that 535 Mission is preparing to break ground. The parking lot is now closed and a few workers were on site. Can anyone confirm? Photo is courtesey of Downtown Dave at Skyscraperpage.com....

In other words, is it about to get even louder inside Salt House at lunch?

UPDATE (6/18): From a seriously plugged-in reader: "The workers onsite are surveyors starting to put up the "grid lines" Should see dirt moving real soon."

Approved For Residential, But Building Commercial (535 Mission) [SocketSite]

First Published: June 17, 2008 3:00 PM

Comments from "Plugged In" Readers

Nice to see a few projects still breaking ground with the current state of the economy.

Posted by: SFhighrise at June 17, 2008 3:53 PM

Hope spring's eternal.

Posted by: flaneur at June 17, 2008 4:26 PM

Well, given a 2 year construction window breaking ground now may not be a bad idea. Time will tell.

Posted by: zzzzzzzz at June 17, 2008 4:51 PM

Agree with zzzzzz's (how many was that?) guestimate of timing, though it would be better to look at the timing of lease rolling as compared to floor plate size and projected tenants for a better feel. But as far as cycle timing, he/she may not be far off. After all, 2002 commercial rent sucked in SF, but 2004 was not so bad and 2005 was even better, and then 2006 and 2007 left fundamentals (but that's another story).

Posted by: Dede at June 17, 2008 6:37 PM

I work for the contractor. The workers onsite are surveyors starting to put up the "grid lines" Should see dirt moving real soon.

Posted by: Rupert at June 17, 2008 9:27 PM

^^^Great news Rupert. Thanks.

Posted by: mission at June 17, 2008 9:49 PM

For the intellectually curious, here is the site before it was filled in for use as a parking lot:

http://www.flickr.com/photos/ericinsf/8862334/

Posted by: Eric in SF at June 18, 2008 7:19 AM

Well Tishman Speyer is well on its way to pre-leasing 555 Mission St. so you could argue that Beacon is about a year too late. At 555 Mission, floors 19-31 are spoken for as is the top, 34. Several other major tenants have signed LOIs. Even in this economy. The lesson is top office tenants are demanding LEED buldings -- that has been a major factor in every lease at 555 Mission. And 535 is going for LEED gold with design by green superstar Paul Woolford of HOK.

Posted by: JKD at June 18, 2008 8:30 AM

Yessssss! Another beautiful, sophisticated skyscraper for our slowly but surely changing (for the better) skyline!

Posted by: sf at June 18, 2008 9:19 AM

Rumor (on SkyScraperPage) also has it that there is a different, even better rendering out there somewhere. Anybody got it?

Posted by: BTinSF at June 18, 2008 10:09 AM

Every single surface lot in the entire downtown/transbay terminal area should be closed immediately and dirt should start to move. These lots are the quintessential waste of space. If you want to build underground parking, that's fine, but those dinosaurs need to become extinct.

Posted by: Rincon_Hill_Res at June 19, 2008 11:38 AM

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