Tishman Speyer has filed an application to build a 700,000-square-foot office complex in western SoMa, the first large development seeking to piggyback on San Francisco’s rezoning along the Central Subway.
The 97,000-square-foot parcel at 598 Brannan St. is owned by the Hearst Corp., which has used it to store and maintain San Francisco Chronicle delivery trucks and newspaper racks. The parcel, on the northeast corner of Brannan and Fifth streets, is directly across the street from the San Francisco Tennis Club. The property is assessed at $10.2 million. In addition to a large L-shaped surface parking lot, the property has a 38,000-square-foot warehouse built in 1952.
The Tishman Speyer development would consist of two 11-story, 160-foot buildings. The structures would be separated by a pedestrian extension of Freelon Street to Fifth Street, allowing access to a new mid-block green space the city would like to construct, according to public planning documents.
Park access would also be provided via a new pedestrian passage connecting Brannan Street to Welsh Street, a dead-end alley on the north edge of the parcel. All parking would be underground.
The proposed development comes as the city’s Planning Department is nearing completion of its draft Central Corridor Plan, slated for release in late 2012 and adoption in 2014.
The new neighborhood plan is an effort to increase the density of workers, and to a lesser extent residents, along the path of the new Central Subway in the early stages of construction.
The Central Subway, scheduled for a 2019 opening, will extend 1.7 miles from the Fourth Street Caltrain station and will have stops in SoMa, Yerba Buena, Union Square, and Chinatown. The proposed rezoning would favor technology-friendly buildings on larger parcels of available land, limiting housing to lots under 20,000 square feet.