A 22-story hotel is in the works for San Francisco's Financial District as the demand for hotel rooms is on the rise.
Peninsular Realty LLC's plans for 439 Washington St would tear down a two-story office-and-retail building to build a 90k SF, 189-room hotel with 4,500 SF of ground-floor retail. The hotel project, designed by San Francisco-based Stanton Architecture, could cost around $35M, according to the San Francisco Business Times.
San Francisco has several hotel projects on the table, including one application to turn a one-story SoMa parking garage into a six-story hotel, also submitted by Stanton Architecture. Stanton also designed the Hampton Inn recently completed at 942 Mission St, shown above.
Demand for hotel rooms exceeds supply in San Francisco, driving more interest in hotel projects despite challenges including high costs and the length of time it takes to build hotels in the city. The city's hotel occupancy is around 85%, up from an average of 72% in past decades. [SFBT]
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