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Mid-Market Goodwill HQ Sold to Major Housing Developer

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Goodwill Industries put its 2.3 acre headquarters at South Van Ness and Mission up for sale earlier year in hopes of receiving $60 million for the property and cashing in on the current revival of its Mid-Market and SoMa surroundings. Now, the property is reportedly under contract to mega-developer Related California along with the City of San Francisco. It isn't clear yet what role the City is playing in the purchase. The Goodwill site has the capacity to hold up to 600 units - it has room for a 500,000 square foot, two-building complex and has been zoned for up to 320 feet in height along South Van Ness, 250 feet on the corner of South Van Ness and Mission and 85 feet along most of Mission. The announcement comes on the heels of the news that the nearby Honda dealership has been sold to another housing developer.

When Goodwill put the site up for sale, the organization stated that its needs had grown beyond the capacity of its current headquarters. Goodwill is looking for new sites, and ideally will stay within San Francisco. Although no longer right for Goodwill, the property, which sits along a busy intersection and is near the Central Freeway, Market Street subway and upcoming Van Ness BRT, is an ideal location for Related California. The developer has a portfolio of around 9,500 units across the state. Related California built SoMa's 43-floor Paramount back in 2001, just won a bid to develop a 550-foot Rem Koolhaas tower at Transbay Block 8, and last year announced plans to put in 320 units in Potrero Hill.

· SoMa Goodwill Site Expected to Fetch up to $60 Million [Curbed SF]
· Goodwill's New Use [Bisnow]
· Mid-Market Honda Dealership Sold to Become New Housing [SF Curbed]
· Rem Koolhaas Will Design 550-Foot Tower at Transbay Block 8 [Curbed SF]