Lendlease also announced the 540-foot tall tower, which will bring urgently needed housing and commercial activity to the site of a former City-owned building, would now be a premier mixed-use destination called “Hayes Point.”
The billion-dollar-plus project represents Lendlease’s largest investment to date in the Americas. The company’s integrated approach to investment, development and construction – which means Lendlease is leading all aspects of the project – allows for Hayes Point to be completed in 2025.
“This is exactly the type of project we need to be doing in San Francisco,” said Mayor Breed. “We need to unclog the housing pipeline. We need to deliver housing at all income levels, as Hayes Point will, and we need to do it faster and more efficiently. We need thriving retail, arts and community activities in our key commercial districts like the Civic Center. And we need to maximize living and working around our transit centers.”
Located at the northeast corner of Market Street and Van Ness Avenue, Hayes Point will house 333 residences – 25 percent of which will be permanently designated affordable. It will also feature 290,000 square feet of office and retail space. The ground level will include a space for arts, community events and small retail that opens onto a public plaza, anchoring and activating one of San Francisco’s most prominent corners.
The building sits atop an axis of mass transit connections, including BART, the Historic Market Streetcar/F-Line, the Van Ness Muni Metro Station (underground light rail), and the new Bus Rapid Transit system atop an axis of mass transit connections, including BART, the Historic Market Streetcar/F-Line, the Van Ness Muni Metro Station (underground light rail), and the new Bus Rapid Transit system on Van Ness Avenue.
Designed by Solomon Cordwell Buenz (SCB) Architects and featuring best in class sustainability design and LEED Platinum certification, Hayes Point will be an all-electric destination – a first among large mixed-use projects in San Francisco to go all-electric – and is designed to achieve net zero emissions during construction and ongoing operations.
The office component of the building will feature modern workspaces tailored to the evolving needs and preferences of today’s employees and employers. Each level will feature outdoor terraces, open floor plates, 14'-6" floor-to-floor heights that allow for abundant natural light, and dynamic glass that lowers energy use and increases occupant comfort. The building will also feature touchless access throughout, ionic air purification in elevator cabs, and state-of-the-art HVAC with MERV-15 filters and 100 percent outside air capability.
Hayes Point will also feature parking and facilities for 300 bicycles – nearly twice as much required by code.
“The flagship project reflects Lendlease’s commitment to creating “next generation” workplaces in key locations within world-class cities,” said Arden Hearing, Executive General Manager of West Coast Development for Lendlease Americas. “With few other projects of this scale at this time, Lendlease is stepping up to deliver a best-in-class asset on the West Coast. After years of hard work by many people across our investment, development and construction teams, and deep collaboration with the City and community groups, we are proud to announce this important benchmark for our company, and for San Francisco. We are eager to move to completion in 2025 and draw on Lendlease’s experienced construction team to deliver a best-in-class living and working destination.”
Hayes Point’s 333 residences, housed on floors 11 to 46, will feature an average size of more than 1,000 square feet, with 50 percent of the units offering two or more bedrooms. The building’s 83 permanently affordable units will all be on-site and integrated into the fabric of new community.
“This is truly ‘inclusionary’ on-site affordable housing,” said District 6 Supervisor Matt Dorsey, “and will go a long way toward revitalizing a corner of the district that has struggled, for decades. Market and Van Ness needs to be a shining star for San Francisco, and Hayes Point will help it become one.”
The 100-percent union project is also expected to generate about 3,000 union jobs over the course of construction – about a third of them going to San Francisco workers.
Lendlease (www.lendlease.com) is a leading global real estate and investment group with operations in Australia, Asia, Europe and the Americas. Our purpose is to create places where communities thrive. Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 7,700 employees internationally. Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers.
For additional information, contact:
P.J. Johnston, (415) 260-8417, [email protected]