1600 MARKET in San Francisco (37/58)

1600 MARKET STREET, SAN FRANCISCO, CA 94103

Brian Spiers together with Chris Foley of the Polaris group formed Overtime Partners LLC and purchased this 5,200 square foot corner lot on Market Street in an off-market transaction. Brian originally secured entitlements for an 85 foot, 24-unit market rate building with a concrete and curtain wall design. In 2010 due to the housing market slump and the difficult economics of building a concrete and curtain wall design on a small footprint – Brian revised the plans. Overtime Partners acquired new entitlements for a 5- story, 60 ft. structure with 24 – units in four stories of wood frame over a concrete ground floor which included 3,600 sq. ft. of retail space. In December of 2010 planning approvals were granted for 1600 Market Street to provide the 23 units of off-site BMR units to satisfy the inclusionary housing requirements for the 1998 Market Street project. Combining the 1998 and 1600 Market Street projects significantly improved the underlying financials for the developments. Construction commenced in August 2012.

Developer : Brian Spiers