More than a decade after its initial filing, the residential development planned for 655 Folsom Street in San Francisco’s South of Market (SoMa) neighborhood may finally be gaining momentum. Originally proposed in 2013 to replace the two-story Canton Dim Sum House restaurant, the project has seen little visible progress since the developer, Pillar Capital Group, announced a 2019 groundbreaking that never materialized.
Recent permit activity, however, indicates that the project is not dead. While the development plan remains unchanged since the San Francisco Planning Department’s last update in early 2020, new building permits were issued in August 2019, and demolition permits followed in October 2023. The continued permit filings suggest that the long-delayed 14-story apartment building could still move forward, although no official construction timeline or updated cost estimates have been provided.
Rendering Courtesy of Arquitectonica
The proposed development includes 89 residential units, 2,300 square feet of ground-level commercial space, and a basement garage with 36 parking spaces. Plans also include storage for 97 bicycles and a rooftop deck to provide residents with additional open space. The design, created by renowned architecture firm Arquitectonica, features a modern facade characterized by a checkered grid of bay windows and recessed terraces, giving the structure a bold, contemporary identity.
The project site spans 0.16 acres and sits at the corner of Folsom and Hawthorne Streets. It is directly across from the recently renovated 633 Folsom Street office building and adjacent to SoMa Square Apartments. The site is also next to 120 Hawthorne Street, another stalled residential project. That parcel, roughly half an acre in size, received approval in 2017 for a 230-unit development designed by Handel Architects for Equity Residential but has also remained unbuilt.
The property at 655 Folsom was last sold in 2013 for $11 million. Despite its prime location in the rapidly evolving SoMa district, the site has remained untouched for years, a symbol of the challenges faced by infill developers in San Francisco's complex permitting and market environment.
Though Pillar Capital Group has not provided a recent public update or responded to inquiries, the issuance of demolition permits could mark a turning point. If construction begins, the project would contribute much-needed housing to the city’s core, while also activating a corner lot that has long sat underutilized in one of San Francisco’s most dynamic neighborhoods.
For now, the future of 655 Folsom Street remains cautiously optimistic—rooted in years of delay but bolstered by recent movement and a still-relevant design by one of the region’s leading architectural firms.