Trinity Plaza to begin excavating! Yeah!

We’ve said it before, and we’ll say it again. If you want to be totally up to date on what’s going on in big development news, you should subscribe to The San Francisco Business Times. Nobody has their finger on the pulse like them, particularly J.K. Dineen. (Some of our readers can certainly second this emotion.) With that said, Mr. Dineen again breaks the news that this guy (Angelo Sangiacomo pictured below) has a big ass shovel and he’s about to start digging.

Najib Joe Hakim SF Business Times

“After a six-year entitlement battle, the Mid-Market apartment owner is gearing up to break ground on phase one of what will eventually be a 1,900-apartment complex on a windswept stretch of Market Street…

SFGate via Arquitectonica

Trinity has hired Cannon Construction to build the massive San Francisco project, which was designed by the Miami-based Arquitectonica, the firm behind Tishman Speyer’s Infinity complex on Rincon Hill.

The complex was approved on April 10, after years of negotiations between Trinity developer Angelo Sangiacomo, rent control advocates, current Trinity tenants, and District 6 Supervisor Chris Daly.

The first phase of construction, some 440 units on the Mission Street side of the property, includes 360 “replacement” studios to house the rent-control tenants now living in the Trinity rental complex. The remaining 80 units will feature one-bedrooms: 68 market-rate and 12 below-market rate. The address of the first building will be 1188 Mission St.

… shoring and excavation will begin shortly and take the project into 2008 when the “pile and foundation program” will start. Trinity officials estimate that it will take two years to finish the first phase and move existing tenants over.

In all, the project will include four phases. After 1188 Mission St. is completed, the next building will be 545 units on Market Street, which will include 21,000 square feet of retail space and a large public plaza allowing pedestrians to pass through from Mission to Market Street.

The final building phase will add 915 units and include a building along Eighth Street and another west of the 1188 Mission St. structure.”

How is all this Bay Area development going to impact our housing market? With so much gloom in the headlines, you’d have to think these guys are nuts. We beg to differ.

-Massive Excavation to Begin at Trinity Plaza [San Francisco Business Times, J.K. Dineen]

-Arquitectonica

-Tishman Speyer

-Trinity Deal Hits a Snag [sfgate...source of building photo]