Arden Hearing has made a career of seeing what others do not.
It’s generated some skepticism, says Hearing, who knows there are people questioning why Lendlease would bring more office space online when the city’s office market is struggling. The condo market has also slowed in recent months. Hearing, who told the Business Times upon joining Lendlease in 2019 that he was drawn to the company’s ability to take the long view of things, sees opportunity in that, noting the project is set to delivery in 2025.
“No one wanted to think about them. Everyone had gotten burned on them. They were overbuilt. So to start planning a large portfolio of condo projects was counterintuitive, at least from a conventional wisdom standpoint.” “San Francisco has gotten hit harder than any other place, which it always does,” he told me. “It also always comes back.”
Drawn simply to the feel of the city — its vibrancy, its diversity — he arrived jobless, spending time couch surfing before managing to score a room in an apartment in Nob Hill for $365 a month. He picked up a job as a Craigslist wine importer before beginning a side hustle at a boutique real estate firm, brokering deals between the city, developers and landowners. It was high-risk, high-reward work, says Hearing, who was working nights and weekends.
Hearing’s personal and professional dispositions have made him well-suited to the task, said Frakes, who worked alongside Hearing on The Pacific. People leave their conversations with Hearing, who is soft spoken but friendly, feeling like they’ve been heard. In the end, 30 Van Ness, alongside developer Related California’s 345-unit project at 98 Franklin St. and Crescent Heights’ 966-unit project at 10 South Van Ness, were granted the upzonings; the rest of the plan hasn’t progressed. Of the three approved projects, Hayes Point is the only one that has moved from paper to reality.
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