SocketSite is reporting that Hines Interests is getting ready to officially put in their bid to knock down the Factory club at 525 Harrison St. This should pave the way for the construction of a 16-story residential building in a city that always seems to be looking for more housing.
According to the preliminary design, the project entails 184 units perched over 2,500 square feet of ground-floor retail as well as 164 stacked on-site parking spaces.
Hines will pitch the plans to neighbors at the site tomorrow at 6 p.m.
The San Francisco Business Times reported in May that Hines, which is also building the 1.4 million-square-foot had first filed their application for the project. If approved, Hines will have to pay slightly more than $2 million in Rincon Hill infrastructure fees as well as $2.5 million in South of Market stabilization fees.
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