[1977]

Originally Posted by WildCowboy

Strada has picked up the hotel site, the triangular piece of land along the channel between Third and Fourth. They're planning a $220 million project with a combo of hotel, residential, and retail. Don't have access, so can't see other details:

http://www.bizjournals.com/sanfranci...bay-hotel.html

Very high profile site in the neighborhood as the entrance to southern MB on both Third and Fourth, as well as the only spot planned for hotel use.

A few other details:

The land deal also triggers the start of the design of one of the remaining portions of Mission Creek Park. Mission Bay Development Group will seek a landscape architect to design a 2.4-acre park between the Third Street and Fourth Street bridges along Mission Creek.

There are currently 1,000 units of housing at some stage of development in Mission Bay with another 600 units likely to be under way in the next year. Most of that housing will be completed by 2014 when Stada is hoping to be under construction.

Also, the hotel will most likely be around 250 rooms instead of the zoned 500.

“I wouldn’t do more than 250 rooms there,” said Elgonemy. “The sweet spot for hotels to cover fixed expenses is between 180 and 250 rooms. Why build a bigger hotel when you can’t fill it? Build a smaller hotel, you’ll have higher occupancy and higher room rate, and then use the remaining land to create residential and retail to give the project that 24/7 buzz.”

Source: www.bizjournals.com/sanfrancisco

Also, from Socketsite:


Source: www.socketsite.com

Zoned for a 500-room hotel and 50,000 square feet of retail, the rendering above was developed as a concept for Farallon Capital Management which has sold the Mission Bay Block 1 site to Strada Investment Group which plans to build a hotel, retail and residential.

Source: http://www.socketsite.com/archives/2...block_one.html

I hope they retain the height shown in the rendering. Not huge, but significant for the area...at least currently.