The parcel of land beneath SoMa's McDonald's has been purchased by hotel developer Stonebridge Companies for an undisclosed sum. The land sits in a prime spot between the AT&T ballpark and tech-oriented SoMa, and was expected to fetch a high price when it went on the market back in April. Although the lot has no current entitlements, its zoning would allow offices, mixed-use housing, or a hotel. From the looks of things, hotel occupancy rates above 80 percent in San Francisco and the sluggish hotel development pipeline enticed Stonebridge to make an offer. New development in SoMa is especially attractive because of the bounty of business in the area. The planned 225-room hotel, designed by Michael Stanton of Stanton Architecture, will rise 10 stories. Stanton was also responsible for Hotel Zetta, one of Curbed SF's Essential Hotels, and Pillar Point at Half Moon Bay, so expect this site to go from fast food to fashionable.
· Hotel Developer Gobbles Up McDonald's Site Near AT&T Park [SFGate]
· Sale of SoMa McDonald's Site Across from Giants' Ballpark Could Set Records [SF Business Times]
· Twelve Projects Set to Reinvigorate the City's Hotel Development [Curbed SF]
· The 18 Essential San Francisco Hotels March '18 [Curbed SF]