{"id":1004086851,"date":"2013-11-14T06:49:42","date_gmt":"2013-11-14T14:49:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004086851"},"modified":"2020-05-13T22:13:37","modified_gmt":"2020-05-14T06:13:37","slug":"jay-paul-breaks-ground-on-san-franciscos-181-fremont-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jay-paul-breaks-ground-on-san-franciscos-181-fremont-tower\/","title":{"rendered":"Jay Paul Breaks Ground on San Francisco\u2019s 181 Fremont Tower"},"content":{"rendered":"<p><i>By Scott Baltic, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/FREMONT.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004086852\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jay-paul-breaks-ground-on-san-franciscos-181-fremont-tower\/fremont-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/FREMONT.jpg\" data-orig-size=\"489,800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"FREMONT\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/FREMONT.jpg?w=489\" class=\"alignleft size-medium wp-image-1004086852\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/FREMONT.jpg\" alt=\"FREMONT\" width=\"183\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/FREMONT.jpg 489w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/FREMONT.jpg?resize=183,300 183w\" sizes=\"auto, (max-width: 183px) 100vw, 183px\" \/><\/a>Ground was officially broken Wednesday on <a href=\"https:\/\/www.181fremontresidences.com\/\" rel=\"nofollow\" target=\"_blank\">181 Fremont St.<\/a>, a 54-story, 684,000-square-foot residential and office tower near the Transbay Transit Center in San Francisco\u2019s South of Market district. The project\u2019s developer is the<a href=\"https:\/\/www.commercialsearch.com\/news\/industry-announcements\/deal-of-the-week\/jay-paul-co-acquires-san-fran-transbay-development-site-2\/\"> Jay Paul Co., of San Francisco, which took over the project last April from SKS Investments<\/a>.<\/p>\n<p>The $500 million tower is <a href=\"https:\/\/www.jaypaul.com\/\" rel=\"nofollow\" target=\"_blank\">JPC<\/a>\u2019s first urban high-rise project and at 802 feet will be the tallest mixed-use office\/residential tower in the Western United States.<\/p>\n<p>It\u2019s scheduled to open in early 2016. \u201cWe\u2019re just digging down into the earth right now,\u201d a JPC spokesperson told <i>Commercial Property Executive<\/i>. \u201cWe\u2019ll be a year down and two years up for construction.\u201d<\/p>\n<p>The tower will feature 411,000 square feet and 33 floors of Class A+ office space with open floor plates.<\/p>\n<p>Sixty-eight two- and three-bedroom luxury residences ranging from 1,400 to 3,600 square feet will occupy floors 39 through 53. Amenities will include an Owners\u2019 Lounge, fitness center, wrap-around balcony, BBQ grill, fire pit, kitchen and a dining room on the 37th floor, providing a transition between the office and residential floors.<\/p>\n<p>The building, which was designed by Heller Manus Architects and will target LEED Platinum certification, will also include 2,600 square feet of retail space on the first and fifth floors.<\/p>\n<p>It will connect directly to the 5.4-acre rooftop park atop the Transbay Transit Center, which will connect various rail and bus lines, paratransit services, and a proposed California high-speed rail project.<\/p>\n<p>181 Fremont borders the South Financial District and SOMA markets, which are extremely tight right now with 5.7 and 7.4 percent office vacancy rates, respectively, according to figures from Cornish &amp; Carey Commercial Newmark Knight Frank, which has been tapped to market the office space.<\/p>\n<p>\u201c181 Fremont Street is positioned to come online as the vacancy rate for the Class A office market is poised to dip below 5 percent,\u201d Karl Baldauf, a senior vice president with Cornish &amp; Carey Commercial Newmark Knight Frank, told <i>CPE<\/i>. \u201cThe technology industry continues to grow at such a rapid pace, there is an enormous demand for large blocks of contiguous space, which are in short supply in San Francisco; the SOMA Financial District is even more constricted. Rental rates have increased to the point that they support a good return on new construction.\u201d<\/p>\n<p>JPC has retained The Mark Co., of San Francisco, to handle sales and marketing for the residences, which will be marketed under the name Park 181.<\/p>\n<p>There has been plenty of activity in the Transbay district, whose skyline will be dominated by the 61-story Transbay Tower, which will be the tallest building in San Francisco when it\u2019s completed in 2017.<\/p>\n<p>But other projects, too, are moving forward. In mid-April, for example, <i>CPE<\/i> reported that<a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/west\/kilroy-breaks-ground-on-350-mission-st-san-fran-office-tower\/\"> Kilroy Realty had broken ground on its 350 Mission St., a 27-story office tower at Mission and Fremont<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jay Paul Co. broke ground on 181 Fremont St.,  a 54-story, 684,000-square-foot residential and office tower near the Transbay Transit Center in San Francisco\u2019s South of Market district. <\/p>\n","protected":false},"author":882,"featured_media":1004086852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21752,21742,21747,1609,21786,15],"tags":[],"class_list":["post-1004086851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-mixed-use","category-latest","category-office","category-san-francisco","category-sustainability","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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