Originally zoned for the development of a 500-room hotel and up to 50,000 square feet of retail, Mission Bay Block 1 which fronts Channel between Third and Fourth Streets was sold to the Strada Investment Group in 2012 and successfully rezoned for the development of a smaller 250-room hotel, 25,000 square feet of retail, and 350 residential units.
The hotel portion of Mission Bay Block 1 has now been sold to the SOMA Hotel group which plans to start construction on a 15-story hotel at the end of 2014 with a target opening by the end of 2016. While an operator for the hotel has yet to be identified, they’re shooting for one with four stars.
∙ And Then There Was (Mission Bay Block) One [SocketSite]
∙ More Housing For Prominent Mission Bay Block Number One [SocketSite]
∙ New hotel on its way to Mission Bay [Business Times]