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Mayor Lurie Signs Legislation to Launch Major Downtown Development, Accelerate Downtown Recovery
10/30/2025
[ Article originally appeared in www.sf.gov ] Mayor Daniel Lurie today signed legislation unanimously approved by the Board of Supervisors to advance a transformative new development at 530 Sansome Street in the heart of San Francisco’s Financial District. Cosponsored by District 3 Supervisor Danny Sauter, the legislation authorizes a development agreement to deliver a new state-of-the-art fire station; a 41-story mixed-use tower with office, hotel, retail, and restaurant uses; and a reimagined public plaza between Sansome Street and Battery Street. The signing represents another step in Mayor Lurie’s work to drive San Francisco’s economic recovery by revitalizing downtown—driving business activity, adding housing, and cutting red tape. In September, he unveiled his “Heart of the City” plan, leveraging more than $40 million in initial investments to create a safe, clean, and activated neighborhood. The mayor took immediate action to turn around downtown, launching the San Francisco Police Department Hospitality Zone Task Force to revitalize critical commercial districts and improve public safety. Crime is down more than 40% in Union Square and the Financial District. More downtown office space is being leased and workers are returning to the office more quickly in San Francisco than in any other major city. “Downtown drives San Francisco’s economy, and a thriving downtown where people can live, work, play, and learn will be key to our city’s comeback,” said Mayor Lurie. “With the support of Supervisor Sauter, we’re signing this legislation and delivering new spaces for residents and visitors, while taking advantage of innovative tools to support public safety. Our administration is setting ambitious goals and thinking creatively about how to achieve them, and that’s what it will take to make San Francisco the greatest city in the world again.” “530 Sansome represents a major step forward for San Francisco's downtown comeback,” said Supervisor Sauter. “But let's be clear: This is also a significant win for our neighborhoods. A new fire station will keep our residents and small businesses safe while affordable housing funds will directly contribute to new homes built nearby, including 100% affordable senior housing in Chinatown.” The 530 Sansome development will use an innovative financing mechanism to offset the construction costs of the new fire station based on a percentage of actual revenue collected from new hotel taxes, without any upfront investment of city capital dollars. The completed project is expected to generate more than $800 million in annual economic activity and includes nearly $15 million paid prior to construction to support the creation of 100% affordable housing. The 530 Sansome project is the result of a public-private partnership with Related California and will deliver a vibrant mix of daytime and nighttime uses on a key site at the edge of the Financial District near Jackson Square. Spanning approximately 24,830 square feet, one block east of the Transamerica Pyramid and one block west of One Maritime Plaza, the project includes a 41-story, 544-foot-tall mixed-use tower containing up to 390,000 square feet of office space along with a restaurant and meeting spaces, up to 200 hotel rooms, and below ground, three levels of parking and bike storage. “Related is proud to reach this major milestone in collaboration with the city to reimagine a quiet corner of the Financial District and Jackson Square as a vibrant new destination,” said Gino Canori, President of Related California. “We appreciate the support of our partner and lender Prime Finance in making this development possible. By delivering the highest-quality office space, the first five-star hotel in downtown in decades, and a state-of-the-art fire station, this is the right project at the right time to set the stage for San Francisco's future.” A cornerstone of the project will be the privately delivered new fire station 13 at 447 Battery Street. The building will be a modern, four-story facility that has been designed in close collaboration with the San Francisco Fire Department (SFFD). The station will feature apparatus bays with dedicated access for engines and trucks, dormitories and day rooms with direct pole access, officer suites, a kitchen and dining area, fitness and training spaces, and a rooftop terrace designed to support firefighter training and recovery. “The redevelopment of 530 Sansome marks a major investment in both San Francisco’s recovery and public safety. A new modern Station 13 will improve our response capabilities in the Financial District, Chinatown, and North Beach,” said SFFD Chief Dean Crispen. “This project reinforces that fire and public safety are essential to San Francisco’s future. Having a strong, safe city is the foundation for growth and recovery.” Additionally, the project will generate nearly $15 million in affordable housing contributions to the city, including support for the proposed 100% affordable senior housing project at 772 Pacific Avenue in Chinatown or other developments within District 3. An initial $2 million will be paid within six months of entitlement, with the remainder provided prior to when construction begins. “This project reflects how well-located infill development can directly support our city’s affordable housing goals,” said Daniel Adams, Director of the Mayor’s Office of Housing and Community Development. “The $15 million contribution from 530 Sansome will help support the development of new 100% affordable housing, with a priority on bringing much-needed stability and opportunity to our city’s downtown and adjacent neighborhoods.” Over the next 25 years, the 530 Sansome project is expected to generate $13.5 million annually in new general fund revenue. In addition to driving job growth and tax revenue, the project will contribute approximately $8 million in fees to support transportation, child care, and public infrastructure. The development will create an average of 388 construction jobs annually and support more than 1,600 new permanent on-site jobs once complete, fueling an estimated $816 million in annual direct economic impact.
“Now is an amazing time to invest! The Office of Economic and Workforce Development is ready to be flexible and partner with any developer eager to seize this moment as San Francisco experiences this upswing,” said Anne Taupier, Executive Director of the Office of Economic and Workforce Development. “530 Sansome proves that creative collaboration with developers can build the infrastructure we need and deliver the tax revenue that will ensure our city continues to thrive.” Back To News |
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