SAN FRANCISCO — A joint venture between Trumark Urban and Hillwood West has received a $48 million senior loan for a ground-up condo and retail development in San Francisco. The new project will be located at 645 Texas Street in the Dogpatch/East Potrero Hill neighborhood near the city’s downtown.
The development will contain 91 condo units, 625 square feet of ground-floor retail and 67 subterranean parking stalls. The condo units will include one- and two-bedroom units, as well as three-bedroom penthouses.
Construction is slated to commence this summer, with completion scheduled for late next year. The infill site currently contains two vacant warehouse buildings that will be demolished.
The site will have direct access to Interstate 280, the 22nd Street Caltrain, the 3rd Street T-Line Muni, Espirit Park and the future Pier 70 waterfront development. Major employers in the area include UCSF Medical Center, Uber and Old Navy, which all maintain campuses about a mile north of the property.
The senior loan was provided by PCCP LLC.