A New Proposed San Francisco Skyscraper

More Condos May Be on the Rise in San Francisco's Financical District

Developers went in front of the Planning Commission Thursday to propose a 248-unit condo building located at 555 Washington St. The building would rise 430 feet next to the Transamerica Pyramid, in the heart of the financial district.

The Planning Commission came up one vote shy of derailing the condominium and failed to certify the environmental impact report, which is needed for the project to proceed.

Opponents claim that the development will require exemptions from several land uses that regulate everything from shadows and height to wind and parking which ultimately create a bad precedent.

But those in favor of the project say it would to a number of different things such as, provide much need housing, instill a new spark into the area, be built with an eco-friendly approaching, create jobs, and provide more open space.

The consideration of the development has now been delayed until March 18, when both the Planning Commission and the Recreation and Park Commission can attend the hearing jointly.