Organized Labor

The historic Chronicle Building on the corner of Market and Kearny Streets is undergoing a renovation, and conversion into new condominium and time-share units. The Ritz-Carlton Club and Residences, San Francisco, will occupy the West Coast’s first skyscraper. Erected in 1890, the building served as the offices of the San Francisco Chronicle and will include 49 Club Residences, or time-shares, and 52 Whole-Ownership Residences.

The historic building survived the 1906 earthquake, but was damaged by the fires that followed the quake. It was restored by architect Willis Polk, but later covered in a metal facade.

General Contractor Plant Construction Co. started the work in August, 2005. Phase One of the project is expected to be completed and the first occupants moving in, in October of 2007, according to Paula Pritchard, construction manager for the project. She said the $90 million renovation is an all-union job.

Pritchard said that all of the facade was retained on the historic building and that all the footings were upgraded to be seismically sound. She said work includes the removal of 1960’s era metal cladding and restoration of the original masonry exterior, demolition of portions of the existing building, extensive excavation, structural upgrades, and construction of eight additional above-grade floors. The new 24-story building will contain 101 residential units and 225,000 square feet of retail space. The existing 12 floors are being converted to time-share units, with residences above that level.

In June, Ritz-Carlton announced sales of over $106 million for 18 condos, and 42 monthly slots for the project’s time-share units. They began accepting sales reservations for both real estate options in February. The San Francisco location represents the first urban property for The Ritz-Carlton Club brand, which has Clubs in Florida, Colorado, and the U.S. Virgin Islands, according to the company. Prices range from $1.2 million to over $5 million depending on floor plan. Two-story private penthouses from 2,090 square feet to 3,565 square feet are also planned.

Robert van Dijk, director of sales and marketing at The Ritz-Carlton Club and Residences, San Francisco, said, “The Ritz-Carlton Club and Residences, San Francisco is an example of the company’s focus on striving to seek new ways to deliver a luxury experience within a residential atmosphere.”

The property will also include a fitness center, business and conference facilities, and some retail space on the first floor, on Market Street. The project is a joint venture between the Ritz-Carlton and Alameda-based developer Jim Hunter. He won approval for the project from the City in 2004, as part of the City’s effort to convert vacant commercial space downtown to residences.

     – Paul Burton