Bayhill Ventures, a San Francisco-based real estate development and investment firm focused on multifamily, commercial, and mixed-use properties across the western United States, today submitted entitlement approvals for 530 Howard Street, a for-lease residential development in the Transit Center District of Downtown San Francisco.
“This significant investment in our Downtown is another infusion of confidence and excitement for the future of San Francisco. We are focused on doing everything we can to bring more housing and vitality Downtown, and I want to thank Bayhill Ventures for working to deliver on that effort,” said Mayor London Breed. “Turning a parking lot into housing, including affordable housing, is exactly what we need to do to build a stronger, more resilient San Francisco. It’s good for the future of our City, for our restaurants, and retail, and for the long-term health of our entire economy.”
The 530 Howard tower will stand approximately 840 feet tall and house 672 one- to three-bedroom for-lease residences, including all of its affordable housing, on what is currently a vacant lot and a four-story office building between 500 and 540 Howard and backing to Natoma Street. It will include a fifth-floor bridge connecting to the Salesforce Park, vehicle and bike parking, and close to 30,000 square feet of amenity space.
“We believe there continues to be a strong need and desire for housing in Downtown San Francisco which will support a more diversified and balanced ecosystem for residents, businesses and their employees,” said Bayhill CEO Paul Paradis. “I have been active in this submarket for decades and I’m pleased that Bayhill will provide much-needed market rate and affordable housing, as well as employing skilled labor in the near term. We believe in the City’s ability to continue to attract forward-leaning technologies, as well as both large and small corporate companies alongside other business services, retail, and dining.”
Within the greater South of Market (SOMA) District, the development site is immediately proximal to the Transbay Transit Center north of Howard Street. It is at the intersection of the Yerba Buena cultural district and Rincon Hill residential neighborhood. Transit amenities include the above-grade bus level, ground-floor concourse, and two below-grade rail levels that will serve Caltrain and the future California High Speed Rail, which in total will connect to the San Francisco-Oakland Bay Bridge, eight Bay Area counties and 11 transit systems.
About Bayhill Ventures
Bayhill Ventures, a San Francisco-based real estate development and investment firm focused on multifamily, commercial, and mixed-use properties across the western United States. The team at Bayhill has contributed to the development, acquisition and disposition of over 20 million square feet of commercial real estate, including for many of San Francisco’s signature developments: Salesforce Tower, a 1.5-million-square-foot 61-story office building; the JP Morgan Chase Building, a 700,000-square-foot office building; 33 Tehama, a 35-story 410-unit multifamily building. The firm is committed to the core values of excellence, sustainability and community.
