November 12, 2013
Supersizing The 41 Tehama Street Tower
Approved for the development of a 31-story building reaching 342 feet in height with 325 dwelling units, 700 square feet of retail space, and 241 off-street parking spaces below, Fritzi Realty is now seeking approvals to add four more floors and 73 additional dwelling units to their plans for the tower to be built at 41 Tehama Street
While the basic form and design of the 41 Tehama Street tower would not change, if approved, the 35-story tower at 41 Tehama Street would yield 398 dwelling units and a roof height of 360 feet with. The retail space and number of parking spaces would remain the same.
And as the site appears today:
∙ The Revised Design(s) And Timing For A Tower At 41 Tehama [SocketSite]
∙ Oscar The Park: Designs For An Acre Of Outdoor Space Downtown [SocketSite]
First Published: November 12, 2013 8:30 AM
Comments from "Plugged In" Readers
Does this mean the sale by Colliers failed?
Posted by: B at November 12, 2013 8:52 AM
I thought the "build it higher" crowd would be all over this. Step in the right direction.
Posted by: Michael E at November 12, 2013 12:18 PM
700 square feet of retail seems awfully little. If you're building several hundred thousand square feet of housing and eighty thousand square feet of parking, a few thousand square feet of retail seems like it would be almost a requirement, especially in a location which will see lots of people passing by in addition to the residents.
Is there a reason why it's so?
Posted by: Alai at November 12, 2013 1:57 PM
yes to building it taller and better if it is thinner!
Posted by: Matteo at November 12, 2013 2:01 PM
700 square feet of retail could be because of the limitations of the site. First, there's a freeway along the back, so there's less opportunity for viable retail there. Add mechanical systems, elevators, delivery bays, parking access, and a lobby on the building's small footprint, there's probably not be a lot of space left for retail.
Posted by: James at November 12, 2013 2:08 PM
I don't see why there should be any retail here. Tehama is an alley, not a major street for vehicles or foot traffic. Mixed-use is great, but put retail where it will be used. A vacant storefront on this alley street will not be good for anyone.
Posted by: extra at November 12, 2013 2:48 PM
thats my question ; i thought this was under contract sold by fritzi to trumark for 57.5 MIL. if the deal went thru its not fritzis issue; it is didnt go thru then adding floors is the last issue they would be worrying about; they would be looking for the fallback buyer.
more importantly, it would also indicate that the land bubble is starting to crack. as in 2013 is the new 2006.
what do the socketsite fact- checkers say...??
Posted by: Louis at November 12, 2013 3:04 PM
Both the sale attempt and the increase have been in play since at least April of this year, so it doesn't really say much of anything other than it's still in progress. My guess is that the owners (a small timer) are probably trying to maximize the value of the proper to any potential buyer.
Given they are a small timer, I doubt they have any real intention of developing it themselves, but applying for permits doesn't take too much effort, when compared to an actual development, especially given that they've owned it for decades already.
Increasing the height and density would probably add a few million in value, well worth the effort of getting approvals.
Posted by: lyqwyd at November 12, 2013 4:22 PM
Here's another image to compare the before and after:
Posted by: lyqwyd at November 12, 2013 4:28 PM
Another building by Arquitectonica :)
As for the retail space, its really not a lot given that its going to neighbor a park and it is smack in the middle of a lot of Commercial Space that can support a place to grab lunches, breakfast items
Posted by: Joseph A at November 13, 2013 7:51 PM