The proposed development at 505 Mission Rock St would add 233 homes in a 23-story building on vacant land in Mission Bay. The project team identified Curtis Development and Bayview Senior Services as joint developers, with Y.A. Studio and Perry Architects handling design and a Swinerton-Rubecon joint venture serving as general contractor, according to SFYIMBY.
The housing mix includes 61 one-bedroom, 109 two-bedroom, 56 three-bedroom, five four-bedroom and two five-bedroom homes, according to an Office of Community Investment and Infrastructure procurement document. The document reserved 47 units for Coordinated Entry referrals. SFYIMBY reported that the broader two-building plan includes 398 homes, with 80 intended for formerly homeless families.
The city filed permit 202512172072 in February 2026 under the AB 2011 ministerial pathway. On February 13, 2026, the Board of Supervisors enacted legislation raising the site’s height limit from 160 to 250 feet and increasing the Mission Bay South dwelling-unit cap. OCII also adopted a $5 million predevelopment loan for the 233-unit phase through Mission Bay 4 East Associates 2, L.P.
Public Works approved the parcel subdivision on April 2, 2026. The appeal period expired April 12 without an appeal. OCII later documented an AB 1449 statutory CEQA exemption because the residential units will serve lower-income households and the developers accepted specified labor standards.
As of the August 2026 dossier update, the permit is approved and awaiting issuance. OCII’s January 2026 schedule anticipated Phase II construction financing and construction commencement in early 2028, followed by completion and lease-up in 2030. The tracker’s feasibility model finds that the project does not pencil, estimating a 4 yield on cost against a 6.5 requirement, a gap of 254 basis points.