Another residential tower could rise over mid-Market if brand-new plans submitted for 30 Otis Street turn into reality. The plans come from new development firm Align Real Estate, which is made up of former execs from Tishman Speyer who have worked on huge condo projects like The Infinity. The initial proposal outlines a 250-foot tower accompanied by an 85-foot podium building with new space for the City Ballet School that is already on-site. In that scenario, there would be 354 new units, most of them one-bedrooms. However, the developer would really like to go even higher and has proposed a few alternative scenarios with tower heights up to 450 feet.
The Planning Department is already considering up zoning the area around 30 Otis Street for even higher buildings than are currently allowed, and Align Real Estate included two alternative proposals in its filing. A 320-foot tower with a 120-foot podium could hold 483 new units, and a 450-foot tower with the same 120-foot podium would have 618 units. That would put it more in line with the 400-foot towers planned for 10 South Van Ness just up the street.
· Tishman Speyer veterand pitch 250-foot tower in mid-Market - but want to go even taller [SF Business Times]
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