Construction on the largest skyscraper to break ground in San Francisco since the start of the pandemic has been paused for a second time this year by developer Lendlease, citing market conditions. A spokesperson for Lendlease informed the San Francisco Business Times that their $1.15-billion project, known as Hayes Point, had been put on hold “until markets normalize and we’re able to bring in early tenancy commitments or capital partners – or both”.
The 47-story building at 30 Van Ness Ave., which was approved for 333 residential condominiums along with 290,000 square feet of office and retail space last summer before pausing due to permitting issues with Bay Area Rapid Transit (BART) earlier this year is now expected to resume operations sometime in 2024 according to an official statement from Lendlease’s spokesperson who also noted that it is their largest current U.S project yet.
This news comes as a disappointment after months of anticipation but hopefully construction will be able resume soon enough so that people can enjoy all its features when it finally opens its doors!
