SF New Developments

We don’t usually like posting rumors but this one was too good to pass up… I heard a unconfirmed rumor today that Chicago-based developer Fifield has sold its condo high rise site at 375-399 Fremont in San Francisco’s Rincon Hill. Fifield was originally planning on building 432 condos in what they were calling the “The Californian”.

But word has it that the lot has been sold to an unnamed Australian developer who plans on putting a 60-story (YES SIXTY) tower there. Who can confirm this? Let us know! Maybe, that’s why the demolition has begun!

JK Dineen and Ryan Tate of the San Francisco Business Times reported back in October that Fifield is changing it’s focus from condos to apartments (nationwide) and that it had been under contract to sell it’s already-entitled lot for about $72 million ($166k / building unit).

Picture credits: Davum16 @ flickr