$160M project thaws building freeze

Developer is hot for San Francisco hotel-condo combo

Amanda Bishop - San Francisco Business Times
From the August 31, 2001 print edition

A Southern California developer is pushing into San Francisco with plans to build a 39-story, $160 million hotel and condominium complex on what is now a parking lot at Fifth and Howard streets.

Continental Development has owned the 38,000-square-foot South of Market Street property for 30 years, but is only now developing it because a 25-year lease with Wells Fargo & Co., which included the parking lot, expired two years ago. Wells occupies a data center next to the parking lot that Continental also owns.

When Continental signed the deal with Wells in the '70s, the developer could not foresee that the area would become a hotbed for hotel development.

Read this entire article in the San Francisco Business Times.