Crescent Heights is reviving a stalled 67-story, billion-dollar tower at 10 South Van Ness in San Francisco. Construction on the mixed for-sale and for-rent building could start by 2027 as market conditions improve. The project signals renewed confidence in Market Street after years of uncertainty about the city's future.
You know the market's turning when a 67-story skyscraper that's been on hold for years finally starts to plan construction. Developer Crescent Heights has had a billion-dollar skyscraper at 10 South Van Ness on hold for years, ever since market conditions started to change since the onset of the pandemic. But it sounds like the company's finally starting to move forward with the project once again because of positive market changes in the city. The hope is to finalize plans and start construction on both the for-sale and for-rent units by 2027. That sector of Market Street, formerly known as The Hub, has been the subject of a potential location for some major mega projects, but none of them have really moved forward because of concerns that developers have had regarding the direction of the city. So it's really good to see much-needed momentum here, especially on a project this big. We obviously need more housing in the city. Let me know what you think of the project in the comments and follow me for more San Francisco real estate.
