Change is in the spring air as some of the stalled construction projects in Rincon Hill have either already kick-started or planning to shortly. In addition, the active projects are progressing through their life cycles and moving to the next phases of development. Compared to our last January 2014 visit, a recent tour of the neighborhood showed notable changes. Below is a progress summary report.
What began with a city approval in 2006 and now heading towards an estimated completion for spring 2016, the 399 Fremont’s 10 year saga is finally getting a conclusion. Lying dormant for years, the site is now littered with active excavators, augers and other heavy machinery. Augers and long stretches of reinforced steel are being used to setup either deep shorings or deep foundations for the 400 foot tall structure. Current owners UDR and Metlife along with contractor Swinerton expect completion in 2 years.
Construction of 333 Fremont seems to be completed as lamps and other interior furnishings can be seen through exterior windows. Owner City Core has been offering “deals” at the building’s Facebook page. Red balloons mark un-leased apartments and await those fortunate enough to give up at least $3,500 in monthly rent.
The narrow plot of land at 325 Fremont still remains inactive with the site currently a makeshift gravel parking lot. Parked cars, a construction office trailer, and refuse container currently grace the address. The plan by Crescent Heights to build a 25 story tower with 119 units is still in the planning phase with no recent updates on plan approval.
45 Lansing has grown another 25 feet since our last visit and is currently topped with concrete pillars, wood forms and reinforced steel bars. Rumors are that the 430 foot tall building will be completed by early 2015 but based on current progress there is still at least 18 months of development time. Crescent Heights is the developer for the 39 story 320 unit building.
One Rincon North Tower
One Rincon South Tower’s baby brother is almost completed as most of the glassy emerald blue facade has been hung, with only the roof water tank left to be covered. An onsite tour reveals the 541 foot tower closing in on a possible opening for late summer or early fall 2014. Primary developers for the north tower are Principal Real Estate Investors and Urban Pacific Investors and the architect is Solomon Cordwell Buenz.
There hasn’t been much change at the 340 Fremont site as construction equipment sits idly around two existing dilapidated buildings. After a decade of recessions, changes in ownership, and appeals, all the hurdles seem to be cleared and owner Equity Residential should be demolishing the existing structures and breaking ground in the near future. Handel Architects renderings show the 440 foot building to have a slim profile and modern design. The finished building will have 40 floors and contain 348 residential units.