SF New Developments

By J.K. Dineen and Ryan Tate at the SF Business Journal

With the Argenta rapidly rising at 1 Polk St., Anka Development has designs on another Mid-Market parcel: 55 Ninth St.

The Sydney, Australia-based builder has filed an application for environmental review to construct a 260-unit condo tower near the corner of Ninth and Market streets, according to the city Planning Department. Zain Booker, vice president in Anka’s San Francisco office, declined to comment because the acquisition of the parcel is still pending. Anka would not exercise its option to buy the parcel if it is unable to obtain entitlements to build there.
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The proposed development would replace a 268,000-square-foot headquarters that State Compensation Insurance Fund planned for the site in 2002, but scrapped in 2005. That office project is one of 13 entitled projects the Planning Department is reviewing as having “expired” under unenforced codes requiring developers to break ground within 18 months of approvals. State Fund has owned the 55 Ninth St. site for more than 27 years.

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