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San Diego developer leaving mark in heart of San Francisco; $530m project to become largest residential tower in city that knows how to build.

Publication: San Diego Business Journal
Publication Date: 26-JUN-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Urban West Associates' One Rincon Hill in San Francisco will not only be one of the tallest residential projects west of the Mississippi, but will alter the city's famed skyline as well.

"It's quite an icon," said Michael Kriozere, managing partner of the San Diego-based Urban West, which purchased the 1.3-acm site three years ago for $23 million. "San Francisco has traditionally been known as a city of hills--Nob Hill, Telegraph Hill, Russian Hill. The Planning Department wanted to achieve the same physical presence."

The Rincon Hill neighborhood is located in the South of Market district just south of San Francisco's financial district next to the San Francisco-Oakland Bay Bridge.

The $530 million, two-phase residential project will become one of San Francisco's tallest landmarks, the largest project to break ground in the neighborhood, and one of the first sights for those crossing the Bay Bridge into the city, said Kriozere.

The phase-one tower will have 55 stories, with 376 condos and 14 townhomes at the base, while phase two will sport 44 stories, with 319 luxury condos.

Partnering Up

Urban West is the only San Diego-based developer now partnering with the city of San Francisco on its master plan for the Rincon Hill area, says Jesse Blout, director of economic and work-force development for the...

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