1998 Market Street
San Francisco, CA
Brian Spiers (270 Valencia Street LLC) through his close relationships with local brokers, acquired the 22k square foot gas station site in early 2006 in an off-market transaction. Brian Spiers Development (BSD) was able to obtain entitlements for a 115-unit mixed-use condo development with approximately 6,000 square feet of ground floor retail in spite of facing very strong neighborhood opposition. This entitlement process included hearings at the Planning Commission, Board of Supervisors, and the Board of Permit Appeals. BSD also acquired the air rights and an easement over the adjoining eastern lot allowing for a property line glass wall with spectacular downtown views. Brian successfully managed the property through the 2008 - 2012 real estate/financial markets downturn. For the first time in his development career, Brian teamed up with an equity partner- Canyon Johnson Urban Fund. Together they obtained a construction loan from Wells Fargo with the project breaking ground in July 2012.
Linea was completed in April, 2014. Prior to completion over 70% of the units were in contract. All 115-units sold in 2014. Brian still holds the ground floor retail space.