The hotel will land at one of the biggest projects in the massive Transbay development and will occupy the first 21 floors of the 2-million-square-foot mixed-use tower at First and Mission set to become the second tallest tower in the city.
The news comes at a time of major growth for hotels in San Francisco. More than 20 hotels and up to 4,000 rooms have been proposed or are in development in the city’s urban core, potentially raising the city’s inventory by 10 percent.
Chinese developer Oceanwide Holdings bought the site last year for $296 million from developer TMG Partners and capital partner Northwood Investors LLC and got approval for the development of two towers in May of this year. Jeff Heller, president of Heller Manus, one of the architecture firms designing the building’s exterior, said the project is expected to break ground this fall.
The taller tower’s height will rise to 910 feet, including a 60-foot decorative crown, making it taller than the Transamerica Pyramid, and the second tower will rise 610 feet. The Salesforce Tower will become the city’s tallest skyscraper at 1,070 feet when it opens next year.
The First and Mission towers will be a mix of retail, residential apartments, office space and now the Waldorf Astoria hotel. London-based Foster + Partners will take the lead on the building’s exterior in partnership with Heller Manus. The hotel’s interior will be handled by San Francisco-based Hirsch Bedner Associates.
“San Francisco needed a proper luxury hotel,” John Vanderslice, global head of luxury and lifestyle brands at Hilton Worldwide (which operates the Waldorf brand), told Condé Nast Traveler. “This project is ground zero for luxury there.”
The hotel will have 171 rooms and suites, plus several restaurants and a trademark Waldorf spa.