Золотые Ворота покинули свой кампус в Сан-Франциско: место под новый небоскреб

Golden Gate University has officially moved out of its longtime campus in downtown San Francisco, in light of selling its property at 536 Mission St. Friday to a developer proposing one of the first new skyscrapers since the pandemic.  A university official confirmed the $31.6 million sale to Lincoln Property Co. when contacted by the Chronicle Tuesday. Lincoln previously provided the university with a $21.9 million loan to retire the school's existing debt on the campus. The developer did not respond to a message seeking comment.  The deal effectively ends the school's presence at the site. Classes have been relocated to San Francisco State University's campus near Lake Merced and UC Law's Academic Village at 200 McAllister St. for the foreseeable future, according to Nicholas Bradley, Golden Gate University's Chief of Staff. The university is "considering other options for real estate opportunities," Bradley said, and continues to search for a more permanent home for its academic programs.  Advertisement Advertisement Advertisement Advertisement The loan that the university received from the developer was paid off as part of last week's sale, Bradley confirmed. Lincoln, meanwhile, has taken control of a prime downtown, 236,000-square-foot development site at a price of roughly $134 per square foot. The Texas company and its New York-based partner, McCourt Partners, have proposed demolishing the existing seven-story building and replacing it with a 46-story tower designed by Skidmore, Owings & Merrill. The developers have presented two options: a 700-square-foot office tower with about 1.3 million square feet of space, or a 650-foot mixed-use tower that would plant roughly 550,000 square feet of new offices and 370 homes in the heart of the Financial District and one block over from Salesforce Tower, the city's tallest high-rise. The university was previously rumored to remain part of the new development through a lease-back deal, though neither party has confirmed this plan. Though, the developers hinted that the university could remain part of the picture last year, when they told the Chronicle that their "dual entitlement approach" - pitching both an office tower and a mixed-use project - for the campus property would provide the team with the "flexibility to respond" to market dynamics while "maximizing the site's potential to serve both the university and the surrounding community." Advertisement Advertisement Lincoln and McCourt are slated to seek approval for their development plan in a hearing scheduled before the city's Planning Commission on Thursday. What ends up getting built will depend on market conditions: Office leasing in downtown has been steadily heating up after years of pandemic-induced losses that have left roughly one-third of the city's offices sitting vacant.  With downtown's recovery afoot, the project is part of a broader race among four development teams to land a major office tenant and deliver the city's first new office skyscraper in nearly a decade. The San Francisco Recovery fund is seeking to revive the long-stalled project formerly known as Oceanwide Center at 50 First St. with a proposed 910-foot tower, while Hines has proposed an even taller, 1,225-foot tower at 77 Beale St. Meanwhile, Related California is advancing the Jackson, a mixed-use project on Sansome St. in the North Financial District.  The proposal reflects growing optimism among some developers that demand from artificial intelligence companies headquartered in the city and other office tenants could revive downtown, even as vacancy and construction costs remain at unprecedented levels. There's more to San Francisco with the Chronicle. Subscribe today for just 25¢. This article originally published at Exclusive: Golden Gate University vacates its longtime downtown S.F. campus, a tower will replace it.