Related California has entered into a joint venture with Los Angeles-based McCourt Partners to advance plans for the Jackson, a mixed-use office and hotel tower slated for 530 Sansome St. in San Francisco. The partnership structure will give McCourt an equity stake in the project, according to reporting by the San Francisco Chronicle, although neither the size of McCourt’s investment nor the detailed terms of the joint venture have been made public.
The Jackson is planned as a 41-story tower combining office and hospitality uses in San Francisco’s North Financial District. As currently envisioned, the project would feature 24 floors of new office space totaling about 390,000 square feet stacked above a luxury hotel component. The hotel is planned at 200 keys and positioned as a five-star offering, adding a high-end hospitality element to a district that has seen limited new construction of either office or hotel product in recent decades.
Related California has already secured entitlements for the development, positioning the project to move forward once additional requirements are met. The tower remains in the design phase, and the joint venture still needs to obtain construction financing and lock in sufficient pre-leasing commitments before construction can begin. Those conditions underscore that, while the venture reflects a vote of confidence in the location and concept, the project is not yet ready to break ground.
Jordan Lang, president of McCourt, described the rationale for the investment in comments to the Chronicle. He noted that large-scale projects such as the Jackson require substantial capital to progress, and he framed the joint venture as an expression of McCourt’s belief in San Francisco’s potential to rebound. That perspective aligns with the partners’ decision to pursue a sizable new office and hotel development in a core financial district submarket.
The project highlights both the opportunities and hurdles facing high-rise, mixed-use development in San Francisco’s core business areas. With entitlements in place and a new equity partner committed, the Jackson has cleared some key early milestones, but its timing and ultimate execution will depend on future capital formation and tenant demand. A rendering of the planned tower was prepared by architecture firm Skidmore, Owings & Merrill, illustrating the design vision for the proposed landmark in the North Financial District.
Rendering courtesy of Skidmore, Owings & Merrill.
