5 Thomas Mellon Circle
5 Thomas Mellon Circle is our third real estate project in the USA. SingHaiyi holds a 100% stake in the asset which was acquired from APIC at cost, through the exercise of the right-of-first-refusal, in February 2014.
The development is situated at the prestigious Candlestick Point, which is transforming into a prime retail, entertainment and residential neighbourhood area along San Francisco Bay, California. At present, there is an existing office building on this parcel of waterfront land. SingHaiyi plans to demolish the existing office building to develop a residential condominium with more than 585 units that will emphasise on waterfront living, active lifestyle, convenience and value.
SingHaiyi received project entitlement approval from the San Francisco Planning Commission in December 2016 and is currently in the midst of applying for a site permit.
|Location||San Francisco, California|
|Acquisition Cost||US$24.4 million|
|Total Land Area (sq ft)||~ 204,300|
|Gross Development Value||~ US$420.0 million|
|Expected Completion||1H 2023|