The tallest skyscraper west of the Mississippi River broke ground Wednesday in San Francisco.
City officials, dignitaries and the developers were on hand at First and Mission streets for a ceremony for the Transbay Tower, the 1,070-foot office building that also will have ground-floor retail.
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The undulating exterior of the future Transbay Transit Center will likely not be the originally planned glass because of safety concerns, but officials say a metal skin could contain a math- or science-based pattern that would make it educational for visitors.
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The land at the heart of the future Transbay Tower was sold Friday, according to people involved in the transaction.
On Friday, the Transbay Joint Powers Authority and developers signed the paperwork to complete the $185 million sale, according to authority Executive Director Maria Ayerdi-Kaplan.
The sale of the property near First and Mission streets was expected to bring in close to $192 million including interest.
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The sale of land that is expected to eventually house one of the largest skyscrapers on the West Coast could be completed in the next few days, transferring hundreds of millions of dollars for development around the future Transbay Transit Center.
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Think San Francisco should spend $3 billion over the next 30 years on improvements to make Muni a world-class transit system? That’s possible, but then not a single dime would be spent on improvements to San Francisco’s freeway infrastructure or for biking and walking upgrades.
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The developer of the 1,070-foot Transit Tower, which will be the tallest skyscraper on the West Coast, secured a partnership with a financial partner and is expected to purchase the land for the building in early 2013.
The tower is one of the centerpieces of the Transit Center District Plan, which will redevelop the area around the new Transbay Transit Center being rebuilt at First and Mission streets in South of Market. The transit hub will eventually house a station for Caltrain and high-speed rail, and it will be a regional connection for bus systems.
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A 1,070-foot tower that will become the largest skyscraper on the West Coast received its final approvals from the Planning Commission on Thursday.
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A large decision today could potentially set in motion construction in San Francisco of the tallest building on the West Coast while kick-starting the future of a new transit hub in The City.
The City’s Planning Commission will be asked today to approve the proposed Transbay Tower, and it should do so for several reasons — all of which would be beneficial for San Francisco.
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Historically, the dimly-lit underpasses of freeway ramps have been havens for homeless encampments, shady drug deals and other types of seedy behavior.
With the development of the new Transbay Transit Center requiring several overhead ramps for buses, project backers might have been intimidated by the prospect of those unseemly spaces dotting the landscape of the SoMa District. Instead, they’re viewing such spaces as places for positive possibilities.
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