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5800 Third St.: A Shutdown Is Not Forever

There seems to be some disagreement over what's going on with One Rincon Hill, part two. Axed? Or simply put on ice? If 5800 Third St's any indication though, there is life after suspended animation. The $150 mil, 13,300-square-foot, 341-unit project at the site of a former Coca-Cola plant was put on hold back in April, with 80 percent of the podium already done. (Uh, "podium"?) As the story so often goes nowadays, the developer ran out of cash mid-build, leaving us with a half-finished project. But Goldman Sachs Urban Investment Group, the other name tied to the project, isn't content to sit idly by. They're bringing on old SoMa hand Rick Holliday, who built a ton of lofts in the 80s and 90s, to finish what's been started. Hooray! In 12 to 14 months, barring any more financial fails, we just might finally see those 140 units of first-phase housing -- plus U.K. grocer Fresh & Easy.
· Stalled housing project gets new life [SFBT]
· Development Watch: 5800 Third Street [Curbed SF]