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Development Watch

Tishman Speyer, the developer behind Lumina and the Infinity, wants to build a pair of residential towers near Caltrain at Fourth and Townsend streets. One tower, at 655 Fourth Street, would replace what is now the Creamery and Iron Cactus Mexican restaurant, confirming a rumor that's been swirling at least since the summer. The other tower would go on land that Tishman Speyer doesn't own yet, according to the San Francisco Business Times. One of the buildings would include 449 units and rise to 41 stories, or about 400 feet—roughly the same height as Lumina. [SF Business Times; Uncrunched]