SoMa Commercial Building Being Redeveloped into New 200-Key Hotel
- Apr 08, 2016
San Francisco–One of San Francisco’s historic commercial buildings is going to be transformed into a new hospitality asset. The task has fallen to development and construction company Skanska USA, the entity that will be responsible for the redevelopment of 1095 Market St. The contract, worth an estimated $38 million, will be included in order bookings for Skanska USA Building for the first quarter of 2016.
Located in the ever-growing South of Market district of San Francisco, the building was originally developed in 1904. The eight-story asset will be repurposed as a new hotel for the area, following an extensive redevelopment process. The top-to-bottom renovation will include a series of changes including seismic structural upgrades to the aging building. The redevelopment process will add a new story to the building, taking the resulting nine-story facility to a total area of 72,100 square feet of space.
Skanska is set to transform the existing structure into a 200-key hotel. Once completed, the new facility will also feature a ground-floor retail component. The process is already underway, with delivery aimed for the summer of 2017.
Image courtesy of Google Street View