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Transbay Breaks Ground

San Francisco

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Today marks a milestone for an up-and-coming area of the city: Transbay Block 6 broke ground at 299 Fremont. Golub principal Mike Newman flew in from Chicago to kick it off. He's holding the time capsule that will be planted at the site (he first told us about it last week). Another version will be on display inside the building, too. Aerial shots provided by investor Bentall Kennedy will be placed in the capsule, as will a photo of the famous Batkid. "He brought smiles to so many faces this year," he explained. They aren't planting it just yet; Golub is still taking public recs for contents. (We have a parking ticket you could put in there "by accident.")

Mayor Edwin Lee toasted to the project near the new Transbay Transit Center, which he says will be the "Grand Central of the West." The multifamily project that will rise behind him will create 2,300 construction jobs. (Which means stores should stock up on carpenter jeans.) He says San Francisco still has work to do when it comes to building investment confidence, which helps convince contractors to put up their money and resources.

When done in 2015, the project will include a 32-story apartment tower, townhome residences, a ground-level courtyard, and street-front retail. Mike hopes to "soften" the area's public spaces by adding wider sidewalks and rows (as opposed to one row) of trees to create a pedestrian-friendly feel. The addition of retail will also help; "that area really needs some," he told us last week.