July 12, 2016
By: Ryan Mathews, Marketing Manager, JLL
Parcel F, the last remaining site available for development in the Transbay neighborhood, has been sold by the Transbay Joint Powers Authority, paving the way for further interim financing to complete Phase 1 of the $2.25 billion transportation hub now under construction at First and Mission.
It’s been a long journey for the redevelopment of the Transbay Transit Center, but even while the project has inched forward, commercial and residential development around the transit hub of the future has taken off, creating the platform for a vibrant live-work-play neighborhood that defines “transit-oriented development.”
The most recent project to go vertical is Park Tower, a skyline-shaping 43-story LEED Gold-certified office tower featuring 14 outdoor skydecks – the 21st century equivalent of the office balcony on steroids – as well as a dramatic three-story open air lobby and more than 50,000 s.f. of outdoor space. Park Tower will be adjacent to the Transit Center and its planned 5.4-acre rooftop park.
Artist’s rendering of the 5.4 acre rooftop park over the Transbay Transit Center. Photo: www.transbaycenter.org.
Another key differentiating feature of Park Tower is that tenants will enjoy views from seventy percent of the floors in a city where ‘view corridors’ are often narrow and available only to tenants in the upper floors of a building.
Artist’s rendering of Park Tower, featuring 14 outdoor skydecks. Photo: www.parktowerattransbay.com.
Park Tower is closer to the bay than any other ground up office development in San Francisco and, with completion of the Transbay Transit Center, will have access to no less than eleven Bay Area transit systems.
Park Tower is scheduled for completion in 2018.