Detailed plans have emerged for a grand redevelopment initiative in the heart of San Francisco, encompassing an entire city block. The plans highlight renovations of several historic buildings along Market Street, with potential housing or hotel accommodations planned for the former PG&E/Matson Block. However, the most ambitious aspect of this proposal involves the demolition of the existing 34-story office tower at 77 Beale Street, which is set to be replaced by what would become the tallest building in California.
The project description indicates that the demolition of 45 Beale Street, 77 Beale Street, the garage building at 50 Main Street, and the 215 Annex Building will be necessary. Meanwhile, renovations and enhancements are slated for 25 Beale Street, 215 Market Street, and 245 Market Street. The new construction will feature a 1,225-foot-tall office tower at 77 Beale Street, while two variants are being considered for the garage at 50 Main Street: a 285-foot-tall apartment complex or a 400-foot-tall tourist hotel.
Upon completion, the full build-out is expected to contribute a striking 1.92 million square feet of office space, alongside 250,000 square feet for commercial and retail establishments, and 225,000 square feet designated for parking. The residential variant could encompass between 105,000 and 138,000 square feet, providing approximately 60 to 130 housing units. In contrast, the hotel variant is projected to introduce a 260,000-square-foot tower comprising 350 guest rooms. Additionally, the parking facilities will cater to around 700 to 850 vehicles, with plans for bicycle parking yet to be determined.
The proposal requests that the city establish a new Special Use District at 77 Beale Street. This would involve raising the height limit from 400 feet to an impressive 1,225 feet, while also amending the height restrictions on the smaller lots located in the northern portion of the block from 150 feet to 400 feet.
For the foundation of the proposed South Tower, approximately 150 shafts, each with a six-foot diameter and extending 300 feet in length, are anticipated. The design calls for a three-story basement that closely resembles the existing structure, featuring a thicker mat to be poured, with the foundation extending down to bedrock.
The renowned architectural firm Pickard Chilton has been involved in the project, although it remains unclear if Foster + Partners continues to participate. The London-based firm is well-known for its notable contributions to architecture, including Apple Park in Cupertino and the significant transformation of the Transamerica Pyramid in association with SHVO. Despite the firm’s impressive portfolio of skyline-changing skyscrapers worldwide, it has yet to alter San Francisco’s skyline, facing challenges with canceled plans for 50 Main Street and the Oceanwide Center.
At this time, details regarding the potential designs for 50 Main Street and 77 Beale Street have yet to be disclosed. However, preliminary illustrations shared by Hines and Pickard Chilton hint at the tower being positioned on a striking 105-foot-tall podium, tapering at a height of 679 feet above street level. The documentation specifies that this illustration is intended solely for bulk limit demonstration and does not represent future massing.
Project documents indicate that Page & Turnbull will collaborate on the CEQA scope concerning proposed modifications at the former PG&E headquarters site, which includes the locations at 215 Market Street, 245 Market Street, and 25 Beale Street.
Currently, the existing tower at 77 Beale Street stands at 492 feet tall, featuring 34 floors and accounting for just over 1 million square feet of space. The New Formalism building, designed by Hertzka and Knowles, opened its doors in 1971. If demolished, 77 Beale would rank as the 11th-tallest voluntarily demolished building worldwide, the fifth in the United States, and the tallest building ever to be demolished in California.
The revived plans emerge amid a challenging landscape for San Francisco’s skyscraper development pipeline, plagued by project cancellations and paused proposals. Beyond the 77 Beale Street block, three other Bay Area projects co-developed by Hines have been halted in recent years: a residential skyscraper for Transbay Block 4, a mixed-use high-rise at 550 Howard Street, and a 39-story office block at 415 20th Street in Oakland. Uncertainty regarding the 550 Howard Street development arose after Salesforce withdrew its commitment to a promised office lease before construction commenced.
As of now, San Francisco’s tallest building is the Salesforce Tower, which stands at 1,070 feet and was completed in 2018 by Boston Properties and Hines. This landmark was designed by Pelli Clarke Pelli Architects, with Salesforce as its anchor tenant. The original proposal for the site envisioned a more ambitious height of 1,200 feet, but city regulations necessitated a reduction—a scenario not uncommon for projects in San Francisco. Similar stories have emerged in the past, with the initial plans for 50 Main Street suggesting a height of 1,066 feet and the Transamerica Pyramid originally planned to reach 1,150 feet.
If the plans for the new skyscraper proceed, the 1,225-foot-tall structure at 77 Beale Street would become California’s tallest building, surpassing all buildings in the United States except for those in Chicago and New York City. The tower would also rank as the 11th tallest in the nation, only 25 feet shorter than the iconic Empire State Building, and would tie with the Hengfeng Guiyang Center Tower in Guiyang, China, as the 67th-tallest skyscraper worldwide. Nevertheless, achieving these milestones is far from guaranteed, as the project currently ranks as only the 12th tallest among proposals in the U.S. pipeline. The tallest proposal remaining in the country is the Legends Tower, an approved mixed-use tower in Oklahoma City that aims to rise to 1,907 feet.
Kevin V. Nguyen reports for the San Francisco Standard, drawing parallels between the overview for 77 Beale Street and the tower designed by Foster + Partners for Tishman Speyer at 270 Park Avenue in New York City. This New York skyscraper, reaching 1,388 feet, was responsible for the tallest-ever voluntary demolition in a global context and is set to be anchored by JPMorgan. Meanwhile, the banking giant is currently consolidating its San Francisco office presence into 560 Mission Street and One Front Street. While Hines remains optimistic about the demand for modern Class A office space within the city, it remains uncertain whether 77 Beale Street can advance without securing an anchor tenant.
In recent reports, the San Francisco Office Market has been experiencing significant vacancy levels, maintaining a historic high availability rate of 36%, or 30.5% vacancy according to Newmark’s 2025 Second Quarter market report. Despite these challenges, the leasing market has shown a resurgence, reaching a notable demand level not seen since the first quarter of 2020, with 7.9 million square feet being sought after. This increase in demand is attributed to companies focusing on artificial intelligence and various technology sectors.
Hines serves as the project sponsor and co-owner, collaborating with the South Korean National Pension Service through 200 Mission Owner LLC.
The full build-out of this ambitious project is anticipated to span approximately 48 months, from groundbreaking to completion, divided into three to five phases, not accounting for the demolition phases of 50 Main Street and 77 Beale Street. The preliminary construction timeline estimates that work could commence as early as 2029, although a more realistic schedule suggests a later start as project sponsors navigate planning approvals and financing.
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