Rendering: Solomon Cordwell Buenz via SF Planning
Trumark Urban is looking to sell its SoMa condo site at 923 Folsom Street.
The 114-unit project is slated to break ground in January, the SF Business Times reported. The developer acquired the site two years ago and easily won approvals from the Planning Commission this past summer. Designed by Solomon Cordwell Buenz, the project consists of two buildings — a nine-story structure on Folsom Street and a four-story structure on Shipley Street — connected at the ground floor. The plans call for 1,800 square feet of first-floor retail and on-site affordable units.
The asking price has not been disclosed. The developer received several offers for the site before the project was placed on the market, Arden Hearing, managing director at Trumark Urban, told the Business Times. “We are keeping the gas down on new acquisitions, even while we consider recapitalizing some of our projects that may have increased in value,” Hearing said. “We still have an aggressive growth strategy.”
It’s shaping up to be a busy year for Trumark Urban, which has started sales on the 27-unit Amero in Cow Hollow; the firm will break ground on five developments over the next five months.
Residents will enjoy spectacular views of the City and the Bay, a fully equipped rooftop lounge with outdoor barbeque grills, fireplace and seating, and an array of dining and entertainment options all within walking distance.
Newmark Cornish & Carey is marketing the 923 Folsom site.