Another one bites the dust, as it were. Confirmed: the second tower of the Rincon Hill development has been cancelled for the foreseeable future. With 30 percent of Rincon's Tower One still languishing on the market, the 312 planned condos for 49-story Tower Two just aren't making a whole lot of dollars and cents for the developer, what with rising construction costs, slacking sales and tightening financiers. They've decided to wait until the remainder of One sells out before continuing on with Two. And this shortly on the heels of recent cancellation of 535 Mission Street... But for those of you still hoping for a piece of the high-rising action, there's perhaps a bit of good news to come out of all this: prices are, of course, falling. Um, just like the sky! NIMBYs everywhere are breathing a sigh of relief -- at least for now.
· Rincon Hill Among SF Building Projects Put On Hold [CBS5]
· Market Aftershocks Stem From 535 Mission Halt [Curbed SF]
· One Rincon Hill Begs Your Blind Faith [Curbed SF]