Developer wants penthouses atop armory
In yet another turn in the saga of the never-to-be-anything-but-a-drug-riddled-homeless-encampment, the owner/developer of the Armory on the corner of 14th and Mission actually broke out his spreadsheet and realized that what he originally proposed to is no longer financially feasible. So he wants to be able to sell some high-end penthouses on the roof to cover the cost of the $10M retrofit.
From today’s Examiner,
The latest proposal for developing the long-abandoned armory at 14th and Mission streets calls for condominiums and penthouses, once again stirring controversy about what the old National Guard building should become.
This is not the first time the 123,000-square-foot armory is at the center of a gentrification battle. Since the National Guard abandoned the armory in 1971 about 10 proposals ranging from a movie studio to a church were offered up for the brick fortress that seems an impenetrable castle taking up the entire block of Mission Street at 14th Street.
In 2000, it became the focus of the Mission’s dot-com gentrification wars, with protesters flooding a Planning Commission meeting and arguing against a new-media office complex.
Now, Mission Armory Preservation Partners LLC aims to build 169 condominiums, including eight controversial penthouses, and roughly 30,000 square feet of office space in the 1914 armory that’s on the National Register of Historic Places.
In order for the latest proposal to pencil out financially, the penthouses must be part of the project, since they will help cover the costs of the restoration and seismic work that’s slated to cost upward of $10 million, said Brett Gladstone, an attorney representing the owner, Alpha LLC.
The penthouses would be set back from the edge of the roof, thereby creating a less obtrusive look, said Andres Grechi, design director for MBH Architects. [more...]
Imagine that… A developer that realizes that they can’t afford to do a project because of all of the restrictions placed on the property by our lovely Supervisors. Be sure to thank Chris Daly. He only lives a block away, and this is in his district (albeit right on the southwestern edge). He must like abandoned buildings in his neighborhood… Although I bet you could have already guessed that…
Developer wants penthouses atop armory [SFHomeBlog]
New life for the Armory, finally? [SFHomeBlog]
Another application filed to turn Armory into housing [SFHomeBlog]