Cypress Equities’ Ambitious Redevelopment Project Market Street Place Breaks Ground
- Nov 20, 2014
One of the most highly anticipated urban redevelopment projects in San Francisco has finally broken ground. Aiming to redevelop the area on Market Street between 5th and 6th Streets, Cypress Equities’ Market Street Place is set to become a multi-level retail center that will offer a new hub for shoppers in the area. With the project finally in the construction phase, the development is currently set for an opening in the fall of 2016.
Once completed, Market Street Place will be a 250,000-square-foot shopping center with six levels of retail and 167 spaces of underground parking. The exterior façade of the building will incorporate translucent glass that capture fragmented images of the steetscape, and will allow people on the outside to have glimpses of the interior shopping experience. The designs were provided by world-famous architecture firm Gensler. Market Street Place will feature 270 feet of frontage on one of the most important streets in the city of San Francisco, while the interior will offer 15 to 18-foot high ceilings and large floor plates of up to 40,000 square feet.
According to a press statement announcing the groundbreaking on Market Street Place, leasing activity for the retail center will be handled by SRS Real Estate Partners, with possible tenants being set to be announced as the development process moves on. The CEO of Dallas-based Cypress Equities, Chris Maguire pointed out that “the project continues to generate a high degree of interest from prospective tenants; and, we are very grateful for all of the support we have received from the city.”
Image courtesy of marketstreetplace.com