City officials have approved plans for what would be the third-tallest building in San Francisco, planning department records show.
The housing project at 10 South Van Ness Ave., at the intersection of Market Street, would replace the events venue SVN West with a 820-foot, 67-story tower containing 1,019 homes.
Construction is expected to begin by the end of 2026. The project may take three and a half years to complete and cost just under $1 billion, according to Adam Tartakovsky, managing director of Miami-based developer Crescent Heights.
The Planning Department approved the project on Dec. 17, according to chief of staff Dan Sider. The proposal represents a substantial increase in scale from a 55-story tower first proposed in 2015 and approved in 2023, planning records show.
The current plan calls for a unit mix of 363 apartments, of which 89 would be affordable, and 656 condos, although that mix could change, Tartakovsky said.
The project would include 255 underground parking spots; 388 parking spaces for bikes; 11,416 square feet of ground-floor retail space; two swimming pools on the second floor; and 36,116 square feet of open space across the tower.
The tower would sit on top of a 119-foot podium and have hundreds of underground parking spaces. | Source: Arcadis
Tartakovsky said this project could help revive the Mid-Market neighborhood and lift surrounding property values. Its proximity to Hayes Valley and Civic Center also makes it an attractive place to build, he added.
Adding a few thousand residents to an area brings more vibrancy, Tartakovsky said. “It’s a bit of a renaissance,” he added. “There’s a lot of promise here. We think the neighborhood is really going to come into its own.”
He declined to comment on the project’s financing but said funding would be secured by the time construction is planned to begin.
For years, San Francisco has worked with developers to encourage large-scale housing projects. In 2023, Crescent Heights received a four-year extension to secure city approval for its plans. Tartakovsky said the city “has been a pleasure to work with,” noting that officials helped them navigate the approval process.
Non Plus Ultra head of revenue Lindsay Probasco, whose SVN West events venue would be demolished to build the skyscraper, said the company is aware of the project but declined to share any details about whether it would relocate or become a tenant inside the skyscraper.
“We are very supportive of the development and look forward to a continued working relationship with Crescent Heights,” Probasco said in an email.