I would love to hear what people think about the future of this development.
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No probably not. Pretty sure Oceanwide has abandoned all ventures in the US besides their one project in LA I believe. Unless they’ve abandoned that too.
Its possible something to this projects effect could be built by another developer though.
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From what I hear, Foster + Partners is dead-set on getting the project built as designed, but the property comes with a lot of baggage, debt, etc which makes it fairly unappealing. It certainly won’t be built soon, but if we get another rally in the economy things will look different and there’s a chance!
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Well if another developer can pick it up and build it that would be great
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I actually worked directly across the street from the site on Mission Street and when the site was being worked on it was incredible to see how many people were working at once. Sad to say that I do not see it happening anytime soon as well. There is not much demand for offices at the moment in San Francisco.
Ultimately, this project will be completed when the economic conditions are ideal and as downtown has been sluggish to recover, this may range from 5 to 10 years.
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The recent Bizjournal story got me thinking about this question. Now that Foster + Partners is involved with Transamerica Pyramid and 50 Main Street, I wonder if that experience will inspire Foster to reimagine the design of the Oceanwide Center? Perhaps an apartment tower instead!
https://www.bizjournals.com/sanfrancisco/news/2023/01/23/oceanwide-center-security-lawsuit.html
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