A proposed office tower near Embarcadero would become the tallest on the West Coast at 1,225 feet, surpassing Salesforce Tower. Developer Hines revised earlier plans from 2021 for the site, replacing the PG&E office tower with a taller structure. The project will include 1.6 million square feet of office space, retail areas, and 120 residential units in restored historic buildings. Despite a 35% office vacancy rate, Hines expresses confidence in a market recovery, seeing the project as a long-term investment in downtown San Francisco's revitalization.
The proposed office tower would stand at 1,225 feet, exceeding Salesforce Tower by 150 feet, and replace the current PG&E office tower at 77 Beale Street.
Hines is confident in the San Francisco real estate market's recovery, especially for high-end office spaces, despite a 35% vacancy rate in the current office market.
The new design includes 1.6 million square feet of office space and revitalization efforts for historic buildings, demonstrating a commitment to San Francisco's urban development.
This project is seen as a significant long-term investment in downtown San Francisco, marking a potential turning point after years of stagnant development.
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