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Portland-Pacific's Shopping Their Rincon Hill Parcel for $4.75M

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Looks like developer Portland-Pacific's has one foot out the door on its 113-unit Main Street Lofts project in Rincon Hill. Despite loud complaints from neighbors in adjacent BayCrest Towers that the proposed eight-story building would block light in their courtyard, Portland-Pacific ended up snagging a Planning Commission approval for their project in May 2009 — only to have that decision successfully appealed in October. That sent the developer back to square one in the entitlement process, requiring a potentially years-long environmental impact report. They're still doing that, says a spokesman, but "we are trying to hedge our bets by offering the property (for sale)." At the moment, the property's being listed at $4.75 million.
· SoMa housing site on block [SF Business Times]
· City Pulls Takesies Backsies on Rincon Hill's Main Street Lofts [Curbed SF]
· Rincon Hill 84-Footer Approved, Light-Blockage and All [Curbed SF]

Main Street Lofts

430 Main St., San Francisco, CA