Jackson Square was the market to watch this week, as Related California explained how its one-time “contrarian bet” on developing a 41-story office-hotel tower in the neighborhood has turned to firm conviction about the future of the enclave.
Ralph Lauren got in the mood, too, opening a Polo store there after shuttering two previous locations in the city, and Brick and Timber Collective closed a $32 million deal with a Michelin-starred chef as a partner.
Related’s plans call for a 544-foot tower with 360,000 square feet of offices atop a five-star, 200-room hotel at 530 Sansome, plus a new firehouse at 447 Battery Street to replace a station overtaken by the project. A previous 19-story hotel and fitness club project, approved in 2021, stalled.
“This started out as a contrarian bet but as we dug in deeper and looked at the market, how it is evolving and maturing out of Covid, it doesn’t seem so contrarian any more,” Gino Canori, president of Related California, told the San Francisco Chronicle.
Related hopes to secure approvals to build the tower this fall, allowing the firm to break ground by late next year. If all goes well, it could be completed by 2030.
Michelin-starred chef, Ralph Lauren come to Jackson Square
Restaurateur Peter Hemsley of Michelin-starred Aphotic joined forces with developer Brick & Timber, which keeps its headquarters in the neighborhood, to buy a 15,600-square-foot store and building at 530 Jackson Street for $32.4 million, or over $2,000 a square foot.
Hemsley announced last year he would shut Aphotic, blaming the SoMa location. It’s not clear whether the chef intends to revive the sustainable seafood restaurant or launch a new concept in the ground-floor space that was home to Kells Irish Restaurant and Pub for decades. Paul McAleese is the owner of Kells Irish Restaurant and Bar as well as the seller of 530 Jackson.
Just down the street from 530 Jackson, Ralph Lauren opened its first new store in the city in years.
“The opening of Polo Ralph Lauren in Jackson Square is a testament to the neighborhood’s growing appeal as a premier destination for retail,” Robbie Silver, CEO of the Downtown SF Partnership, said in a statement.
Sweetgreen, Blue Bottle sign long-term Mission Rock leases
In further retail news, Mission Rock developers Tishman Speyer and the San Francisco Giants announced two new long-term deals at their Mission Bay development. Blue Bottle Coffee and Sweetgreen have signed 10-year leases at Mission Rock and Arsicault bakery finally opened its doors in the development.
Oakland-founded Blue Bottle will occupy 2,069 square feet at the base of the building occupied by Visa at 300 Toni Stone Crossing. Salad-and-grain bowl shop Sweetgreen will take just under 2,400 square feet at the base of The Canyon, a residential tower at the intersection of Dr. Maya Angelou Lane and Toni Strone Crossing.
Alex Sagues and Madeline Mandanis represented the landlords in the deal. Sagues called Mission Bay “the most vibrant neighborhood in San Francisco”. He said retailers are drawn to the transit-friendly area because “it is a true seven-day neighborhood,” with office, life sciences, residential, and the UCSF hospital, as well as events at Chase Center and Oracle Park.
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Commercial
San Francisco
Related California eyes 41-story office-hotel in San Francisco
Commercial
San Francisco
Star chef, Brick & Timber join up on $32M SF Jackson Square buy
Commercial
San Francisco
Blue Bottle, Sweetgreen sign 10-year Mission Rock leases
