Nine years ago, Pulte Homes placed the half-block sized San Francisco Tennis Club at Fifth and Townsend under contract with plans to bulldoze the club and build over 500 condos on the Central SoMa parcel which is currently zoned for development up to 65-feet, or roughly six stories, in height.
With the economy turning and club members having organized, Pulte’s plans were withdrawn in 2008 and members of Save Our San Francisco Tennis Club celebrated as Western Athletic Clubs, now Bay Club, took over the tennis club with plans to preserve and expand the facility.
Last week, Bay Club was sold to York Capital Management and San Francisco-based JMA Ventures, a real estate development company.
While plans for the Bay Club’s clubs have yet to be announced, we’d be willing to bet that plans for developing the 645 5th Street site were central to the acquisition, especially in light of the fact that San Francisco’s pending Central SoMa Plan could up-zone the Tennis Club site for development up to 200-feet in height.
As always, we’ll keep you posted and plugged-in.