End Of Approvals Process In Sight For Build Inc.'s India Basin Project
Build Inc.’s India Basin project is nearing the end of its approvals process in San Francisco. The Board of Supervisors is expected to vote on the project at 700 Innes St. by the end of the first quarter, the San Francisco Business Times reports.
India Basin is one of several large-scale waterfront projects in the planning and development stages. Other projects include FivePoint’s Shipyard and Candlestick Point projects, Forest City’s Pier 70 project and Mission Rock. Build may also buy a 31-acre site that PG&E is considering selling near Hunters Point.
During a planning commission meeting Thursday, additional details were revealed about how the site could be developed. One option would be to build up to 1,240 housing units, 275K SF of commercial, 50K SF of institutional space and 1,800 parking spots.
A second option calls for up to 500 housing units, 1M SF of commercial, 50K SF of institutional space and 1,932 parking spots. Both concepts include 1M SF of open space and public parks and buildings up to 14 stories and 160 feet tall. The amount of affordable housing is not yet decided, but will likely surpass the 12% the city required in 2014 when the plan was originally submitted.
Build principal Lou Vasquez said he prefers the residential option due to the market dynamics. A heavier commercial project would end up going against Prop. M’s office cap, which limits large allocation projects to 875K SF annually. The city is expected to hit the limit next year with several large office projects set to deliver in 2018.
The project team includes master plan architect SOM, Bionic Landscape Architects and Gehl Studio.
