Work Under Way on San Francisco High-Rise Condos
San Francisco—Tishman Speyer and China Vanke have broken ground for Lumina, a mixed-use project at Main and Folsom streets in downtown San Francisco, near the waterfront. The development will include 655 condo units, along with retail and parking.
The development is a JV between Tishman Speyer, which will develop and manage Lumina, and China Vanke, which will be a venture equity partner. China Vanke is the largest residential developer in the People’s Republic of China, and the development is the company’s first investment in North America.
With the start of construction, Lumina will be the only large-scale condo project under way in the city in 2013. A sales center for the property will open next summer.
Floor plans include studio to three-bedroom layouts averaging 1,275 square feet. Amenities include spa-like facilities with a private treatment room; a three-level urban clubhouse with outdoor entertaining area and BBQ; a theater-style private screening room; a game room; a pet washing station; and a bike storage and repair room.
Each residence will also have a parking space with 24/7 valet service for residents and their guests. Electric vehicle charging stations will be available.
Two commercial spaces will be available at Lumina. A 9,500-square-foot space along Folsom Street will likely be a restaurant or upscale market, while a 1,000-square-foot space at Folsom and Beale is envisioned as a café.
Designed by noted architect Bernardo Fort-Brescia of Arquitectonica, Lumina will feature two residential towers 350 and 400 feet tall, as well as two mid-rise buildings arranged around a landscaped central courtyard. Previously, Fort-Brescia designed the Infinity, the Tishman Speyer project next to Lumina. The new project will share a similar look and feel to the Infinity, according to the architect.Tags: China Vanke, Lumina, Mergers and Joint Ventures, mixed-use, New Development, Tishman Speyer