City officials in San Francisco have reached a deal with Lendlease in what the city hopes will revive the Australia-based developer's project to build a 47-story mixed-use tower at the intersection of Market Street and Van Ness Avenue.
Lendlease halted construction last year on the $1.2B project, known as Hayes Point, which according to the approved plans will include 333 condos above 290K SF of office and retail space.
In May, Lendlease announced a strategic shift that appeared to doom Hayes Point, its largest U.S. investment; the developer said it would pull out of international development and sell several U.S. assets, including the tower site at 30 Van Ness, to focus on its domestic business.
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