The Midmarket Building is planned to rise to 65 floors and is expected to be among the tallest skyscrapers in San Francisco._1
Crescent Heights, a developer proposing a redesign for their project, officially submitted plans to the city for a residential building located at 10 South Van Ness Ave. in San Francisco’s Mid-Market district. This project was originally approved a few months after the pandemic hit but has since been on hold. The new proposal aims to increase the building’s height from 55 to 65 stories.
If approved, the total height of the building will reach 755 feet, positioning it among San Francisco’s tallest skyscrapers, with the Salesforce Tower standing at 1,070 feet. In addition to the height increase, Crescent Heights’ proposal includes expanding the overall building size and adjusting the number and types of apartments originally approved.
The total area of the building was initially set at 906,811 square feet, but the new plan aims to exceed 1.5 million square feet, which will include 10,877 square feet designated for retail space. The original plan called for 976 residential units, which increased to 1,012 last year, but Crescent Heights has now proposed reducing this to 952 units, eliminating the design for studio apartments.
Under Senate Bill 330, Crescent Heights is also applying for density bonuses that limit the city’s ability to object to density increase proposals. Additionally, they are pursuing a streamlined review process for projects that do not meet state housing goals, as outlined in SB 423.
However, the state density bonus program requires the 10 South Van Ness Ave. project to provide a certain percentage of affordable housing. Although Crescent Heights has already satisfied the affordable housing requirement for the project, the redesign will necessitate additional affordable units.
When the project was approved in 2020, Crescent Heights had entered into a land exchange agreement with the City of San Francisco to avoid building hundreds of below-market-rate units. As part of this agreement, Crescent Heights purchased a site next to the BART station on 16th Street for $45 million, which will be given to the city for the construction of approximately 330 affordable housing units—though that project has yet to break ground.
Dan Sider, the executive director of the planning department, noted that the land donation was a response to the city’s affordable housing requirements at that time.
In their application, Crescent Heights emphasized that the residential units will include a mix of rental and ownership options. Adam Tartakovsky, the managing director of Crescent Heights, stated that the updated mix of apartments and alternative building designs will enhance the project’s competitiveness in securing financing, while also contributing over 950 new housing units to San Francisco.
As the city faces a state-mandated target of building 82,000 housing units by 2031, city leaders have significantly relaxed development conditions to facilitate housing construction.
Crescent Heights has not yet provided a timeline for when construction on the 10 South Van Ness Ave. project will commence.