McCourt, Lincoln Win Approval for Flexible 536 Mission St. Tower in San Francisco

McCourt and Lincoln Secure Approvals for San Francisco Tower Under Two Distinct Plans
CRE Market Beat Take
Dual approvals for commercial and mixed-use programs give the sponsors entitlement flexibility, a valuable hedge for capital planning in a still-recovering downtown office market.

McCourt Partners and Lincoln Property Company have secured San Francisco Planning Commission approvals for a new high-rise at 536 Mission St., advancing two distinct development paths for the site. The project, designed by Skidmore Owings & Merrill, is among the first new towers in San Francisco to move through the entitlement process since the pandemic, signaling renewed activity in the city’s core.

The planning approvals allow the sponsors to pursue either a fully commercial tower or a mixed-use program. Under the commercial option, 536 Mission is planned to reach approximately 752 feet in height and contain nearly 1.35 million square feet of trophy office space, supported by about 4,000 square feet of ground-floor retail. This configuration would position the building as a large-scale corporate hub in the heart of downtown San Francisco.

The mixed-use entitlement provides a different mix of uses while still delivering a significant office component. In this scenario, the tower would rise to roughly 698 feet and total 1.17 million square feet. The program includes 643,500 square feet of office space, 521,450 square feet of residential space with 385 apartments, and 4,380 square feet of ground-floor retail. This alternative is structured to blend office, residential, and street-level retail activity on a single, vertically oriented site.

By advancing both configurations through the planning process, McCourt and Lincoln have positioned 536 Mission to adapt to evolving demand in downtown San Francisco. The dual approvals give the project latitude to calibrate its ultimate use mix in response to market conditions and the broader trajectory of the city’s recovery.

McCourt Partners framed the approvals as a milestone for both the project and the surrounding urban core. Jordan Lang, president of McCourt Partners, thanked the Planning Commission for its support and for recognizing the potential of what he described as a transformative development in the middle of downtown. He also noted that San Francisco’s recovery is gaining momentum and that the team aims to contribute to the next chapter of the city’s evolution in partnership with Lincoln Property Company.

The two approved schemes underscore how large-scale office projects in urban cores are being structured with optionality around use mix, as owners and developers seek entitlements that can accommodate both commercial demand and potential residential needs over the long term.

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