SAN FRANCISCO, CA – APRIL 21 2015 – Related California, one of the state’s leading real estate development firms, today received key approvals to move ahead with Transbay Block 8, a 554-unit residential tower at Folsom and Fremont streets. This mixed income, mixed-use project is being developed in a partnership between Related California and Tenderloin Neighborhood Development Corporation (TNDC), a local non-profit housing developer.
The development will create approximately 124 market rate condominiums, 280 market rate rentals and 150 below market rate rentals. Approximately 18,000 square feet of ground floor and below-grade retail is also included in the development program. “Throughout our 25 year history, Related California has been deeply committed to developing housing of the highest caliber at all income levels, and this project continues that commitment,” said Bill Witte, Chairman of Related California. “We’re proud to be working with a great non-profit partner like TNDC to bring 150 units of critically needed affordable housing to San Francisco.” Designed by world-renowned architecture firm OMA in collaboration with award-winning San Francisco design firm Fougeron Architecture, Transbay Block 8 consists of a 550-foot tower, an eight-story residential building, and townhomes along Clementina Street. The project’s design introduces a mid-block passage - or “paseo”- that splits the podium of the tower in two, activating the base of the building to create a vibrant center for both residents and neighbors filled with retail and other amenities. Celebrating urban life, the passage expertly meshes with the neighborhood fabric of surrounding pedestrian corridors and green spaces.
Approval of the schematic design and the Disposition & Development Agreement allows Related California and TNDC to move ahead with purchasing the property and completing the design. Construction is anticipated to begin in 2016. The Commission’s support of Transbay Block 8 – the last parcel on Folsom street – brings the Transbay Terminal closer to fruition, while adding a stunning work of architecture to San Francisco’s skyline.