Luxury real estate investor and developer Shvo has announced a $250 million renovation of the iconic Transamerica Pyramid Center in San Francisco by world-renowned architects Foster + Partners. The biggest renovation in its 50-year history, the redevelopment is the largest investment in downtown San Francisco since the pandemic to one of the city’s most recognizable landmarks, the second tallest building in the city. An additional $150 million will be allocated to expanding and upgrading the adjacent Three Transamerica (545 Sansome) to a contemporary high-design office building. The selection of Pritzker Laureate Norman Foster, known for melding historic architecture with contemporary design, followed an invited competition.
Designed by celebrated futurist architect William Pereira and completed in 1972, the Transamerica Pyramid Center encompasses an entire city block in the Financial District. The broader site consists of two additional buildings – Two Transamerica (505 Sansome St.), Three Transamerica (545 Sansome St.) and the central Redwood Park.
The new Foster + Partners design seeks to revitalize and restore the historic park, while tying all three buildings together through a series of strategic interventions at ground level, creating a vibrant new destination in the heart of San Francisco while respecting and celebrating the unique heritage of the site. Shvo acquired the Transamerica Pyramid Center in October 2020.
“Norman Foster is renowned for his brilliant treatment of historic buildings and I am thrilled to partner with his team on the important task of redeveloping this extraordinary city block and reinforcing the Transamerica Pyramid as one of the greatest buildings in the world,” said Michael Shvo, chairman and CEO. “The Pyramid is synonymous with San Francisco, representing the city’s optimism and forward-thinking nature. We have worked closely with the Foster team to respect the Center’s existing history and complement that with contemporary interventions that will only strengthen this magnificent building that stands as a beacon on this city’s skyline.”
Shvo and Foster + Partners are committed to conceiving high performance office spaces which enhance wellbeing. The office is reimagined as a living space, with a sophisticated emphasis placed on comfort, hospitality and flexibility for tenants and guests. In addition to the on-site private members club Core, hospitality grade amenities and service elevate the offering. Further incentivizing the return to the office, retail is carefully curated and two floors in the middle of the tower are dedicated to wellness, a lounge and conferencing facilities — all with panoramic city views. Additionally, the top floor below the spire culminates these amenities with an enchanting private bar and lounge.
Redwood Park — which consists of nearly 50 mature redwood trees transplanted from the Santa Cruz Valley to the site in 1974 and now over 100 feet tall — will also be upgraded and additional landscape will activate the site perimeter. Adding seasonal color to the space, Mark Twain Street (the alleyway from Sansome Street) will be lined with plum blossom trees, leading up to the base of the pyramid featuring curated cafes, shops and restaurants. The project is slated to be completed by the middle of 2023.
“This is an exceptional opportunity to restore the unique Transamerica Pyramid Tower and its historic Redwood Park, to create a very special destination in the heart of San Francisco. The existing buildings and new additions are tied together by generous landscaping which will breathe new public and community life at the sidewalk level,” said Norman Foster, founder and executive chairman of Foster + Partners, said. “The previous office areas are reborn as new living spaces, with an emphasis on wellbeing. Working in collaboration with Michael Shvo and his team, we look forward to reinvigorating this truly iconic building.”
