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What's the Status on the Grant Building in Mid-Market?

From the Curbed inbox:

What is going on with the Grant building on Market and 7th? It has been all boarded up for a while. The Grant Building at 1095 Market Street was all set to be transformed from office building to hostel with a hip restaurant and nightclub. The conversion was approved back in 2010, and with all the energy and money flooding Mid-Market these days, it seemed like a no-brainer. When we last checked in on the project in February 2012, no building permits had been filed. They still haven't, but it looks like we're figured out why – the building is for sale. Back in 2010, the historic 1905 building project cleared all its conversion hoops, including a thumbs-up from the Historic Preservation Commission. There hadn't been any movement for a long time, but it looks like the property has been quietly listed with hotel agent and broker CBRE Hotels. They're advertising the sale as fee simple interest (meaning they buy the whole shebang – building, development rights, etc) with full entitlements, and apparently the last of the tenants are now out of the building. Looks like until a sale is made, the building will sit empty.
· Previous coverage of the Grant Building [Curbed SF archives]
· 1095 Market Street [CBRE]

Grant Building

1095 Market Street, San Francisco, CA