Another tower added to Transbay
By J.K. Dineen at the SF Business Journal
SKS Investments is proposing a 900-foot, mixed-use tower at 181 Fremont St., a razor-thin skyscraper that would play a prominent supporting role in the new Transbay District at First and Mission streets.
The 66-story tower would include 500,000 square feet of office space beneath about 140 residential condominiums, according to SKS principals and an application for environmental evaluation filed with the city.
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The Fremont Street parcel is one of several sites where the city is considering allowing tall towers as a source of tax revenue to help bankroll the $3.4 billion Transbay Terminal and Tower. Under the plan, developers around the transit center and tower — likely to soar 1,300 feet or more — could build well above current 300- to 500-foot zoning restrictions in exchange for pumping millions of dollars in additional taxes to help pay for building new infrastructure in the Transbay District as well as the terminal programing itself. City officials estimate that taxes from upzoning the properties around the Transbay Terminal and Tower could generate $250 million.
Daniel Kingsley, a managing partner with SKS Investments, said the 15,500-square-foot site between the eastern edge of terminal and Town Hall restaurant lends itself to the sort of slender, airy tower city Planning Director Dean Macris has been promoting. Creating a home for new residents and workers next to the terminal would help foster the dense live-work, transit-based neighborhood that Transbay leaders are aiming for, he added.
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