MAYBE A SMART DEVELOPMENT IDEA IN S.F.

By Bob Walsh

The Humboldt Bank Building 

 

The Humboldt Bank Building in the S.F. financial district is probably maybe going to be converted into a 19 story 100,000 square foot residential building, with the ground floor remaining commercial.  Right now the Men's Wearhouse is operating a store  there at 785 Market St.  It is anticipated the building will hold about 120 apartments.  

An outfit called Forge Development will be handling the building.  A similar plan is under was by Group 1 in the significantly smaller Warfield Building just up the street at 988 Market St.  They hope to put 45 units into there.  

Just right now S.F. commercial vacancy rate is running at 40%.

The Humboldt Bank Building was under construction when the 1906 earthquake hit.  The wreckage was taken down and the building rebuilt to new standards so it is considered a relatively safe older building.  It is a officially a historic building and the plan is to keep the outside appearance unchanged, including a very nice, ornate dome.

I am not sure I would want to live on Market Street but if they get enough people that want to do so it might go a long way towards pulling the area out of the sewer.  I hope the projects work.