DM Development and Thompson Builders Advance Nine-Story Mission District Project

A joint venture between DM Development and Thompson Builders has submitted new permit filings for a nine-story residential building at 321 Florida Street in San Francisco's Mission District. The project team is targeting a construction start as early as fall 2026 for the long-dormant site, which currently functions as a surface parking lot between 16th and 17th streets.

Originally entitled in April 2021, the 107-foot development designed by Handel Architects will total 154,400 square feet. Plans call for 168 residential apartments, consisting of 64 studios, 37 one-bedroom units, and 67 two-bedroom units. The project incorporates 31 affordable residences designated for very low- to moderate-income households, alongside 1,340 square feet of ground-floor retail and a 47-vehicle stacked parking facility.

DM Development is modeling the building's amenities—such as coworking spaces, plunge pools, and rooftop decks—after other recent high-amenity urban developments. For residential builders and lenders, the move underscores sustained developer confidence in infill multifamily sites across central San Francisco submarkets.