BXP Signs on as Development Advisor for Unfinished Oceanwide Tower in San Francisco

With the sale of the unfinished Oceanwide Plaza site in Los Angeles recently approved by a bankruptcy court, another project left in limbo by China-based Oceanwide Holdings’ collapse is gaining renewed momentum. The San Francisco Recovery Fund has hired BXP as a development advisor on plans to build a 910-foot mixed-use tower, the San Francisco Business Times reported.

The fund purchased the Oceanwide development site at First and Mission, on which construction stalled in 2020, earlier this year. The nation’s largest publicly traded developer, BXP brings the developing horsepower and expertise to help bring the project to fruition, Dan Kingsley, co-founder of the Recovery Fund, told the Business Times.

“As the largest commercial landlord in San Francisco and also the developer of the tallest building in San Francisco, we felt that [BXP] had unique insight into this market and what it would take to turn our concept for the First and Mission site into an actual development and occupied building,” Kingsley said.

Pictured: The original design for Oceanwide Center.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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