Luxury Nob Hill Condos

A huge hurdle has been cleared by Maritz Wolff & Co. and Kingdom Hotels International, with the completion of an environmental impact report, regarding their proposal to add a $130 million, 160-unit condo project at the site of the original Fairmont Hotel.

As reported by the San Francisco Business Times-

The new tower, which would replace a non-historic 1961 building and cut the number of hotel rooms from 591 to between 305 and 565, would be the first significant residential highrise development on Nob Hill in more than 40 years. While the project still must win multiple rounds of approvals — including a preservationist battle with fans of the kitschy and much-loved Tonga Room — it would test the appetite for new luxury condos in a neighborhood known for old-school institutions like the Union Club and Grace Cathedral.

If indeed the project passes, I’m sure the developers won’t have a bit of trouble selling these luxury condos in this affluent enclave of high-end residential homes.

[Fairmont Condos Would Test Market]- San Francisco Business Times