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See You in the Sky Lounge in 2014

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We hear via the SF Business Journal that ground has been broken on phase two at One Rincon Hill. Does this mean that the new tower will be Two Rincon Hill? It's expected to be completed to the original c.2005 plans but the number of units has dropped– the developer is combining two small 1-bedroom units on some lower floors. Plus there's the option, depending on the economy in 2014 of becoming rentals or condos. The pool at One Rincon Hill will get more crowded, but there will be a new fitness center and "Sky Lounge" in the new tower for all to enjoy. We're hoping this means that the developers will finally pay the $15.1M they owe the city in affordable housing offsets.* They're also on the hook for a $4M Rincon Hill Infrastructure Impact Fee, $5.1M for something called the SOMA Stabilization Fund, plus a $1M fee to the SFUSD. [*Update: Oops! It seems we erred. At least according to the publicist for One Rincon Hill. All of the fees for Phase One have been paid– contrary to the urban legend that sprung from developer ORH developer Michael Kriozere being mis-quoted in the Chronicle a few years back and causing an uproar with neighbors and the OHR HOA.]
· Construction to Start Today on Second One Rincon Hill Tower [SF Business Journal]
· View-Blocking Confirmed: New Rincon Hill Tower to Start Construction in July [Curbed SF]

One Rincon Hill

425 1st Street, San Francisco, CA 94105 Visit Website