5 M! How’s that for a catchy name? I’m pretty sure it stands for 5th and Mission, the 4-acre development conceived by Forest City Realty Trust and sold last year to Brookfield Properties, which is partnering with Hearst Corporation, owner of the Chronicle Building, built in 1914.
This iconic building is across 5th Street from my favorite 5th & Mission Garage (I find the most spaces on the 5th and 6th floors), and a block from the Westfield Centre, where I go to visit the Microsoft store (the only one in SF) when my computer has the blahs. After many moons (read: legal fights brought on by various local neighborhood groups), 5 M seems to be off and running, i.e. ground has been broken.
This is a BIG property/development–not just a parking lot, more like 7 parking lots that cover four acres! It is scheduled to include a 40-story office building, a 40- to 50-story condominium building, a 20-story apartment building, and several parks, including one atop the Chronicle Building.
Notwithstanding opposition from neighborhood groups, who want to maintain the historic look and feel of the neighborhood, the City is under continuous pressure to expand office and housing inventory. It’s a no-brainer that additions will be to the west and south: can’t go east because of the Bay and can’t go north cause of existing housing density (mostly low rises) and low-rise strips of retail, not to mention a strong view protection by NIMBY. So, west it is–we’ll leave south for another time.
We are also eager to witness the effects of 5 M on the surrounding area. Perhaps the 5 M development will offer new opportunities to the surrounding area and affect the neighborhood positively, much like the PacBell Park has done during the last 20 years. We will wait and see!
The LISA Movement also has big plans for 2020. Check out this preview of what’s to come…