Jackson Square was the market to watch this week, as Related California explained how its one-time "contrarian bet" on developing a 41-story office-hotel tower in the neighborhood has turned to firm conviction about the future of the enclave.
Ralph Lauren got in the mood, too, opening a Polo store there after shuttering two previous locations in the city, and Brick and Timber Collective closed a $32 million deal with a Michelin-starred chef as a partner.
Related's plans call for a 544-foot tower with 360,000 square feet of offices atop a five-star, 200-room hotel at 530 Sansome, plus a new firehouse at 447 Battery Street to replace a station overtaken by the project. A previous 19-story hotel and fitness club project, approved in 2021, stalled.
"This started out as a contrarian bet but as we dug in deeper and looked at the market, how it is evolving and maturing out of Covid, it doesn't seem so contrarian any more," Gino Canori, president of Related California, told the San Francisco Chronicle.
Related hopes to secure approvals to build the tower this fall, allowing the firm to break ground by late next year. If all goes well, it could be completed by 2030.
Hemsley announced last year he would shut Aphotic, blaming the SoMa location. It's not clear whether the chef intends to revive the sustainable seafood restaurant or launch a new concept in the ground-floor space that was home to Kells Irish Restaurant and Pub for decades. Paul McAleese is the owner of Kells Irish Restaurant and Bar as well as the seller of 530 Jackson.
Just down the street from 530 Jackson, Ralph Lauren opened its first new store in the city in years.
"The opening of Polo Ralph Lauren in Jackson Square is a testament to the neighborhood's growing appeal as a premier destination for retail," Robbie Silver, CEO of the Downtown SF Partnership, said in a statement.
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