As part of an initiative to raise money for the Transbay Transit Center, the City of San Francisco has sold a $72 million, city-owned parcel to developer Related of California that will pave the way for a 550-foot, OMA New York-designed residential tower. Located on Folsom Street, between First and Fremont streets, the new tower will be a mix of condominiums and rental apartments, of which 27 percent must be affordable to residents making 60 percent of the area’s median income ($58,250 for a family of four, according to SFGate). We will keep you posted as more details become available.
Official Selection Announcement:
OMA’s New York office is part of a team that has proposed to develop Block 8 in San Francisco's Transbay neighborhood. Led by Partner Shohei Shigematsu, the design features a tower on one end of the block with two podium buildings and a row of townhouses filling the remainder of the block. The project design was conducted by OMA New York as lead architect and master planner in collaboration with Fougeron Architecture (Low Rise/ Podium Architect), CMG Landscape (Landscape Architect). The design team is part of the development team led by The Related Companies of California and Tenderloin Neighborhood Development Corporation. The team has been initially recommended by staff of San Francisco's Office of Community Investment & Infrastructure (OCII), and will be considered by OCII's Commission on May 20, 2014. The announcement follows OMA New York’s selection for the 4th and Arizona development in Santa Monica, marking OMA’s second recent commission in California.