JAY PAUL CO. BREAKS GROUND ON $500M HIGH-RISE IN SAN FRANCISCO
SAN FRANCISCO — Jay Paul Co., a San Francisco-based real estate developer, has started construction on 181 Fremont, a 54-story condominium and office tower in San Francisco’s South of Market (SOMA) district. The $500 million development is Jay Paul Co.’s first urban high-rise project.
The new high-rise will offer 411,000 square feet of Class A office space on 33 floors, and Park 181, the luxury residential component of the tower, will be located on floors 39 through 53. The project will also include 2,600 square feet of retail space on the first and fifth floors. The mixed-use tower is scheduled to open in early 2016.
“As an iconic residential and office high-rise set to define San Francisco’s new downtown, 181 Fremont will be one of the most exclusive addresses in the nation,” says Jay Paul, principal of Jay Paul Co. “181 Fremont is located in the heart of the nation’s strongest office and residential market and, in alignment with the company’s philosophy of bringing best-in-class projects to fruition, will encourage a sustainable lifestyle for all who live and work there.”
181 Fremont will rise 802 feet, making the project the tallest mixed-use office and residential tower in San Francisco and in the Western United States, according to Jay Paul Co. The steel and glass structure is one of only two buildings that will be directly connected to the 5.4-acre rooftop park atop the adjacent Transbay Transit Center.
Residents and office tenants of 181 Fremont will have convenient access to the new public transportation hub connecting MUNI, CalTrain, AC Transit, SamTrans, and several other Bay Area transit lines.
Additionally, Park 181 residents will enjoy an amenity package including an owners’ lounge, fitness center, wrap-around balcony, barbecue grill, fire pit, kitchen and dining room on the 37th floor, which provides a buffer between the tower’s commercial and residential spaces. Park 181 will offer 68 two- and three-bedroom units ranging in size from 1,400 to 3,600 square feet.
Architectural firm Heller Manus Architects is designing 181 Fremont to be a dramatic focal point for San Francisco, identifiable by its unique exoskeleton design and spire that will ascend from the crown of the building. The building will also be designed to achieve LEED Platinum certification.
Jay Paul has retained The Mark Co. to handle sales and marketing for the Park 181 luxury residences, and Cornish & Carey Commercial Newmark Knight Frank is responsible for leasing 181 Fremont’s commercial spaces.
— John Nelson