August 14, 2013

Waylaid By Two Downturns Downtown, Will There Be A Third?

72%20Ellis%20Design.gif

First approved for development over a decade ago with plans for an 11-story hotel and restaurant to rise on the little downtown parking lot at 72 Ellis Street, the owners of the parcel were given until 2004 to start construction on the site:

72%20Ellis%20Site.gif

In the wake of the dot-com collapse and decline in tourism following September 11th, the approved performance period was extended from 2004 to 2007, at which point "the collapse of the housing market and overall poor economic conditions" led the Planning Commission to extend the performance period until 2010.

Having yet to start construction much less secure permits for the project, but wishing "to preserve the opportunity to construct the project given the current state of the economy," the owners of the lot are now seeking a third three-year extension which would preserve their option to develop the lot until August 15, 2016.

"Given the age of the original entitlements and the number of previous extensions," however, San Francisco's Planning Department is recommending the Planning Commission limit the term of the requested extension to one year (to August 15, 2014).

First Published: August 14, 2013 9:30 AM

Comments from "Plugged In" Readers

Getting rid of that parking lot would be divine. It's a horrible eyesore.

Posted by: anon at August 14, 2013 10:02 AM

1 yr seems appropriate. **** or get off the pot (site)

Posted by: OMN at August 14, 2013 10:27 AM

crap :/ i had dreams of a 30+ story condo tower going up i even made a sketch. This tower would have killer views of union sq , hopefully they increase to 15 floors?

Posted by: luis at August 14, 2013 10:28 PM

It's ridiculous how long they've been sitting on this. Hopefully they are serious about building this time.

Considering there's almost nothing in the hotel pipeline, you'd think investors would be eager to build this thing already.

Posted by: JL at August 17, 2013 3:46 PM

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