Hines and Invesco have partnered to purchase 41 Tehama Street, the Transbay District parcel which was originally approved for development up to 31-stories and then “supersized” last year.
The 41 Tehama site is now entitled for a 35-story residential tower to reach a height of 360 feet, with up to 418 units inside. And according to the Business Times, the sale price for the parcel was “around $48.5 million or about $116,000 per buildable unit.”
Plans for the Arquitectonica designed building include 700 square feet of retail space on the ground floor and 241 parking spaces below. The open space at the base of 41 Tehama will connect to the future Oscar Park.