Transforming a SoMa eyesore into hundreds of new units of housing
Thompson Builders, in partnership with DM Development, is proud to introduce 360 5th Street, a transformative new housing development planned for the South of Market (SoMa) neighborhood. The proposal envisions a thoughtfully designed 21-story residential building featuring 278 homes, replacing a long-vacant excavation site with a vibrant new addition to the urban fabric. By delivering much-needed housing and activating the streetscape, 360 5th Street will contribute to the continued growth and vitality of the SoMa community.
The site at 360 5th Street was previously approved in 2018 for an eight-story, 127-unit residential project. While construction began with excavation work, the development was ultimately abandoned following the COVID-19 pandemic, leaving the property inactive for several years and susceptible to recurring groundwater and flooding issues.
Thompson Builders acquired the site in early 2025 and promptly completed initial stabilization work, including backfilling the excavation to address safety concerns and restore compliance with City requirements. Since then, Thompson Builders has continued to maintain and improve the property while advancing a new vision for the site.
2018
8-story, 127-unit project approved
2018-2019
Pre-construction work commences
2019-2024
Covid pauses construction
2025
Thompson Builders acquires / stabilizes site
2026
Project approvals for 21-story, 278-unit project
Today, in partnership with DM Development, the project team is moving forward with a revised proposal for a 21-story residential building that will transform this long-underutilized property into a dynamic new housing community, bringing renewed energy and activity to the South of Market neighborhood.
The proposed 21-story building at 360 5th Street is designed to reflect the evolving character of San Francisco’s South of Market neighborhood through a contemporary architectural expression that is both urban and refined. The building’s design creates a distinctive addition to the SoMa skyline while complementing the surrounding mix of historic industrial buildings and modern residential development.
Residents will have access to shared indoor amenity spaces and outdoor open space, including an outdoor deck on the fourth floor and a larger outdoor deck on the twenty-first floor with views. Planned amenities include community gathering space, a fitness room, and shared work/lounge areas, along with seating and landscaped outdoor areas.
As part of the proposed project, a Conditional Use (CU) authorization is required for the 2,000-square-foot parcel at 214 Clara Street, adjacent to the primary development site at 360 5th Street. The CU is required to remove the existing non-historic single-unit building and incorporate this parcel into the overall project site.
The existing unit will be replaced within the proposed 278-unit residential development, resulting in a substantial net increase in housing, including 42 below-market-rate units. The CU authorization is limited to incorporation of 214 Clara Street into the broader project and does not otherwise affect the project’s design or core approvals. As part of the CU process, the project team will host:
These meetings are intended to introduce the project, share information, respond to questions, and gather community input ahead of the Planning Commission hearing
A professional shadow study was prepared in accordance with San Francisco Planning Department standards. The analysis found that the project would introduce a very small amount of new shadow to one Recreation and Park Department property—the Gene Friend Recreation Center. Existing surrounding buildings already account for the majority of shadow on the site (about 70% of annual conditions), and the project would add only a minimal increment—approximately 0.049% of annual shadow relative to this baseline.
Project-related shadow would occur on a limited number of days between mid-April and late August and would be concentrated in early morning hours, generally before 8:00 a.m. At its maximum, about 4,399 square feet (approximately 10% of the site) would be affected briefly around 7:30 a.m., with the longest duration lasting about 36 minutes. No new shadow would occur during midday or afternoon periods when park use is typically highest, and overall effects are expected to be limited, short in duration, and largely outside peak recreation hours
The project has submitted a Preliminary Housing Development Application pursuant to Senate Bill 330. Consistent with the Housing Accountability Act, this establishes the applicable development standards in place at the time of submittal and streamlines review by focusing on compliance with objective standards.
The project utilizes California’s State Density Bonus Law to increase residential density and request limited waivers from local development controls. In exchange, the project will provide 30% of base units as affordable housing, including 15% for Very Low Income households and 15% for Moderate Income households (42 total units). The City will adopt findings associated with this program.
The project will undergo environmental review under the California Environmental Quality Act (CEQA) and is anticipated to qualify for a Community Plan Evaluation tiering from the 2022 Housing Element Update Environmental Impact Report.
The project team is led by Thompson Builders, the project sponsor, a Marin‑based real estate development firm with decades of experience delivering large-scale urban residential projects across California. Redevelopment is supported by DM Development, headquartered in San Francisco and specializing in urban infill mixed‑use projects known for distinctive design and community focused development. The project is being designed by Handel Architects, a renowned firm with deep experience in mixed‑use residential, commercial, and housing projects throughout San Francisco. Together, the team shares a commitment to design excellence and thoughtful urban development.
Thompson Builders, the project sponsor, is a Marin-based real estate development firm with decades of experience delivering large-scale urban residential projects. Active in California’s commercial construction sector since 1989, the firm is well known for working on complex infill sites and advancing projects that align with local policy and long-term community needs.
DM Development is a leading San Francisco based real estate development and investment firm specializing in urban infill mixed-use development. The firm is committed to creating innovative properties with distinctive architectural designs that enhance communities and promote sustainable development.
The firm currently has over 1M SF of ground-up, mixed-use development in progress with an estimated value of $1B. Notable projects include 8 Octavia, 400 Grove, 450 Hayes, 815 Tennessee, 188 Octavia, 300 DeHaro Street and Union House in San Francisco and The Harland in West Hollywood.
Handel Architects was founded in 1994 with a commitment to making cities better places to live, based on the belief that architecture and design matter, and that through their work, they can make a positive difference in the world. They strive to create buildings that are not just things in themselves but serve as catalysts for positive urban and social change. Their work in San Francisco has included a range of mixed-use residential buildings, hotels, commercial spaces, and single-family homes.
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