Tishman Speyer Vets Look to Build S.F. Tower

Former executives at major developer Tishman Speyer are proposing a 250-foot residential tower in the Mid-Market neighborhood. The newly formed Align Real Estate looks to construct the building on a carpet shop and auto-body store.

The project, at 30 Otis St., would cost $115 million. Polaris Pacific marketed the site for $35 million, and supposedly Align bought it for more than the asking price.

The building, with 350 units, will also include a 10,000-square-foot space for the City Ballet School. Residential units are planned to average 744 square feet.

Meanwhile, Align would like to increase the height of the tower and add more units.