Fairmont Hotel owner Wolff & Co. is planning a conversion of the Fairmont tower (the addition to the original 1907 hotel) to luxury condos. Talk about taking the long view— other posh residences have been cutting prices and converting to rentals for a couple months now. The company, however, is banking on the fact that the conversion will take several years to percolate through the city bureaucracy alone, and by that time the economy— fingers crossed!— will be fun times for all. Why the conversion? Convention-type business is migrating to SoMa, and "the Fairmont is better as a smaller size, grande dame of boutique hotels." Some deets then: they're talking as many as 160 condos, with the possibility of whole, 7,500 square-foot floors, plus, of course, a ticket into the Nob Hill gentry.
Fairmont pondering condos in hotel tower [SF Gate]
Honeymoon's Over: Condos Desperate for Attention [Curbed SF]