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  #1  
Old Posted Feb 23, 2018, 12:36 AM
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SAN FRANCISCO | 1554 Market St. | Approx 130 FT | 12 FL

Quote:
Exclusive: Chinese-backed investor starts construction on rare Mid-Market condos
By Blanca Torres – Reporter, San Francisco Business Times
Feb 22, 2018, 2:27pm PST Updated 2 hours ago



Chinese-backed Z&L Properties Inc. started construction on a rare, 109-unit condo project at 1554 Market St. in San Francisco.

While more than 1,000 new homes under construction or ready to start construction in the Mid-Market area, most are apartments other than 1554 Market and Stage 1075, which is already selling units.

Foster City-based Z&L bought the site from Trumark Urban in 2015 for $23 million, according to property records.

The development, designed by Handel Architects, involves two 12-story towers with a shared courtyard that are connected by a sky bridge . . . .
https://www.bizjournals.com/sanfranc...523&j=80151151
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Old Posted Dec 6, 2018, 3:52 AM
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I contacted Z&L Properties and got this reply: "plans to begin active construction very soon with a start date in early 2019." So glad to see this one still alive!
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Old Posted Dec 6, 2018, 7:06 AM
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right on, Jerry! thanks for that
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Old Posted Dec 6, 2018, 6:19 PM
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Thanks for that although I'm admittedly a little skeptical...shades of One Oak here with the start date being pushed back time and time again. I see this from my window and there has been no progress whatsoever in close to a year, at least once excavation was finished. Really hope it gets built!
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Old Posted Feb 10, 2019, 6:09 PM
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There is a front page article in the San Francisco Chronicle today, 02/10/2019 concerning the development by Chinese companies. Some quotes here. "...planning & building requirements are far more restrictive than in their home country boom-towns. The problem is made worse by government restrictions on investment money leaving China.""...Z&L owned site at 1554 Market St. excavated a foundation in September 2017, only to abruptly halted construction because, the company now says, costs came in $10 million over earlier estimates. The project unfortunately became economically unfeasible, and no lender would fund it" said Buckner, who added that the group is in talks with a new contractor that "has come in with a more reasonable construction budget." "While the building permit for that project was obtained in September 2017, it doesn't work economically now & there is no timetable to start construction, Buckner said.

The article also talks about the development at 555 Fulton Street which has been in construction for almost 5 years, angering neighbors with illegal construction as early as 5:15 am when the legal start time is 7 am., and the lack of parking spaces due to the construction.

It appears that we may have a big hole in the ground at 1554 Market St. for many years to come. JWS, you were smart to be skeptical about this development!
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Old Posted Feb 11, 2019, 6:38 PM
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Yeah I've been extremely skeptical about this one for awhile. Not happy to hear but glad there's finally some news about it. There has been absolutely zero work on it for a very long time now. The project on the same block on Franklin has similarly been sloooooooooooooooow beyond what you would expect, but every now and then I see minor movement on that one.

Such a bummer about SF timelines. The slow process of approving and entitling and permitting puts so many projects at risk as costs rise. It's insane that projects that were first proposed in 2012/2013 or whatever are stalled in 2018/2019. That's far too long.

Of course this one in particular could also be blamed on the developer but SF is certainly not helping.
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Old Posted Jul 21, 2019, 2:36 AM
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Old Posted Aug 3, 2019, 2:17 AM
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Every time I pass by the hole in the ground I wonder if somethiing will ever happen there! Look forward to having a new building in my neighborhood.
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Old Posted Aug 5, 2019, 5:34 AM
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Originally Posted by Jerry of San Fran View Post
Every time I pass by the hole in the ground I wonder if something will ever happen there! ...
I haven't been by this site seems like in over a year, but it looks a little cleaner and more organized since the last time I saw it, and I hope some of what we see here is the preliminary activity for getting this one going?

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Old Posted Aug 6, 2019, 6:01 AM
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Quote:
Originally Posted by timbad View Post
I haven't been by this site seems like in over a year, but it looks a little cleaner and more organized since the last time I saw it, and I hope some of what we see here is the preliminary activity for getting this one going?
See my link just before Jerry’s post—they got funding. They’re also the one behind Fulton 555.
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Old Posted Aug 7, 2019, 12:06 AM
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5 or 6 workers and some equipment on site and busy today:

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  #12  
Old Posted Aug 7, 2019, 7:09 AM
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Originally Posted by viewguysf View Post
See my link just before Jerry’s post—they got funding. They’re also the one behind Fulton 555.
yes, I went by there because of your post. and because we are well aware of this outfit's way of (not) doing things, I was still doubtful!
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Old Posted Aug 9, 2019, 10:26 PM
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Friday, August 9, 2019

Glad to see this long delated project active again! I was surprised to see rebar in place!

1554 Market Street
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Old Posted Aug 22, 2019, 2:33 AM
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Progress is moving fast on this one

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Old Posted Aug 22, 2019, 12:52 PM
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Thumbs up

that is great to see
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Old Posted Aug 23, 2019, 10:43 PM
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Today I got a better photo of the construction site by a quick trespass! I see the first segment of the crane on the left.

1554 Market St._20190823
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  #17  
Old Posted Sep 10, 2019, 8:26 AM
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crane is up on this one

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  #18  
Old Posted Oct 8, 2019, 4:31 AM
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trunks of rebar have sprouted over the fence

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Old Posted Nov 5, 2019, 4:21 AM
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  #20  
Old Posted Nov 20, 2019, 8:01 AM
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from the Market St side...



and from the NW

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