Time for change

The strikingly beautiful clock tower adjacent to the San Francisco-Oakland Bay Bridge—a longtime fixture on the San Francisco skyline—had stood vacant for years. But McKenzie, Rose & Holliday Development recognized its potential and envisioned The Clocktower, a live/work community in the heart of a revitalized South of Market district. The three-building property metamorphosed into 127 units, three interior courtyards, and a rooftop garden. Despite a soft real-estate market and the impact of the Bay Area recession, all of the units sold within twelve months.

Award Winner

rooftop view

interior great room

Completed: 1993 Value: $33.6 million Number of units: 127 Project area: 230,000 square feet Site area: 56,000 square feet Average unit size: 1,150 square feet Average unit price (1994): $265,000 Average unit price (2003): $560,000 Density per acre: 99 units/acre Parking: 115 spaces