{"id":39075,"date":"2025-01-27T12:46:30","date_gmt":"2025-01-27T20:46:30","guid":{"rendered":"https:\/\/occupysf.net\/?p=39075"},"modified":"2025-01-27T12:46:36","modified_gmt":"2025-01-27T20:46:36","slug":"gestating-hearst-housing-project-inches-closer-to-reality","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2025\/01\/27\/gestating-hearst-housing-project-inches-closer-to-reality\/","title":{"rendered":"Gestating Hearst housing project inches closer to reality"},"content":{"rendered":"\n<ul>\n<li><a href=\"https:\/\/www.sfexaminer.com\/users\/profile\/Patrick_Hoge\">By Patrick Hoge | Examiner staff writer<\/a><\/li>\n\n\n\n<li>Jan 24, 2025\u00a0Updated\u00a0Jan 24, 2025 (SFExaminer.com)<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/bloximages.chicago2.vip.townnews.com\/sfexaminer.com\/content\/tncms\/assets\/v3\/editorial\/f\/4d\/f4d8da10-daad-11ef-a2d9-d336ca797207\/679427914e8db.image.jpg?resize=400%2C300\" alt=\"450 Sansome St.\"\/><figcaption class=\"wp-element-caption\"><em>Hearst purchased 450 Sansome St., pictured above, to temporarily house the newsrooms of the San Francisco Chronicle and SFGATE as construction gets underway on a housing tower at the conglomerate\u2019s historic hub of operations.Patrick Hoge\/The Examiner<\/em><\/figcaption><\/figure>\n\n\n\n<p>Media, information and services conglomerate Hearst Corp. said Friday it is in contract to buy a 16-story office building at the northern end of San Francisco\u2019s Financial District in a move that will give the company flexibility to develop a residential tower at its historic hub of operations in SoMa.<\/p>\n\n\n\n<p>The purchase of 450 Sansome St., expected to close in February, will pave the way for demolishing part of the Examiner building \u2014 this publication\u2019s home when it was owned by Hearst \u2014 at Fifth and Natoma streets to make way for a 400-unit residential tower, the last remaining phase of Hearst\u2019s&nbsp;<a href=\"https:\/\/www.sfexaminer.com\/news\/the-city\/city-breaks-ground-on-856-unit-soma-project\/article_1824dddb-3ec6-56db-ae70-77845305bdc6.html\" target=\"_blank\" rel=\"noreferrer noopener\">fully entitled project dubbed 5M<\/a>, the New York-based company said in a press release.<\/p>\n\n\n\n<p>The structure to be razed is connected to the San Francisco Chronicle building at Fifth and Mission streets.<\/p>\n\n\n\n<p>The plan is thus to temporarily move The Chronicle and the separately run SFGATE operations to the new building, a class A structure at Clay and Sansome streets near Jackson Square that is home to Delah Coffee, Umpqua Bank and technology, finance and professional-services industry tenants, said Marty Cepkauskas of Hearst\u2019s western real-estate division.<\/p>\n\n\n\n<p>Hearst owns The Chronicle and SFGate. For much of its history, it owned The San Francisco Examiner, which is now owned by Clint Reilly Communications and operates out of the Merchants Exchange building at 465 California St.<\/p>\n\n\n\n<p>Steve Hearst, vice president and general manager of Hearst\u2019s western-properties real-estate division, said the 450 Sansome deal underscores Hearst\u2019s continued long-term commitment to San Francisco and its positive outlook for the downtown area.<\/p>\n\n\n\n<p>\u201cHearst\u2019s history goes back to the 1850\u2019s and we believe San Francisco remains a vital market for innovation and commerce, and this acquisition reflects our belief in the city\u2019s long-term resilience and appeal as a destination for world-class businesses,\u201d Hearst said in a press release.<\/p>\n\n\n\n<p>The 450 Sansome purchase was one of two notable purchases of downtown commercial buildings to make the news this week.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.bizjournals.com\/sanfrancisco\/news\/2025\/01\/23\/one-montgomery-empire-sale-san-francisco.html\" target=\"_blank\" rel=\"noreferrer noopener\">San Francisco-based Empire<\/a>&nbsp;\u2014&nbsp;an independent record label and distribution-and-publishing company associated with Billboard Hot 100 record-holder Shaboozey \u2014 bought the roughly 100,000-square-foot One Montgomery building, according to the San Francisco Business Times, which cited multiple people with knowledge of the matter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Media, information and services conglomerate Hearst Corp. said Friday it is in contract to buy a 16-story office building at the northern end of San Francisco\u2019s Financial District in a move that will give the company flexibility to develop a residential tower at its historic hub of operations in SoMa&#8230;. <a class=\"continue-reading-link\" href=\"https:\/\/occupysf.net\/index.php\/2025\/01\/27\/gestating-hearst-housing-project-inches-closer-to-reality\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/39075"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=39075"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/39075\/revisions"}],"predecessor-version":[{"id":39079,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/39075\/revisions\/39079"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=39075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=39075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=39075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}