A two-level rooftop restaurant and event venue is headed for The Spear in San Francisco’s Financial District, promising indoor and outdoor dining, panoramic Bay Bridge views, and an early-2027 debut. The 14-story office tower at 88 Spear Street is being rebuilt and expanded as part of a roughly $100 million renovation, and the new penthouse will total about 10,000 square feet. Developer Presidio Bay is teaming up with restaurateur Phil Spiegel, who will operate the space alongside his Holbrook House concept.
Who’s running the roof
Please Management, the hospitality group led by restaurateur Phil Spiegel, has signed on to operate the rooftop and has brought in designer Jeff Schlarb to handle interiors, as reported by the San Francisco Standard. Spiegel’s team is behind Holbrook House and The Conservatory at One Sansome, and the new venue is intended to feel opulent but approachable while staying flexible for both private events and public-facing service. Menus and final layouts are still in the works, according to the outlet.
Buildout and timeline
Presidio Bay is putting roughly $100 million into transforming the tower into what it calls an “office resort,” adding two stories to accommodate the penthouse, according to the San Francisco Chronicle. Construction has been underway since mid-2025, and the company says the overall building is expected to wrap in late 2026, with the rooftop targeting an early-2027 opening. The project included one of downtown’s first tower-crane installations since the pandemic, a highly visible milestone that developers and reporters have pointed to as a sign of momentum.
What the rooftop will offer
The two-level penthouse will cover about 10,000 square feet and is expected to host roughly 500 guests for dining and events, with indoor areas and a wraparound outdoor patio overlooking the Embarcadero and Bay Bridge, according to a Presidio Bay press release published on Resident. The space is being designed to support a mix of nightly service, private bookings and tenant programming rather than a single formal dining concept. Interiors are meant to feel tied to San Francisco while remaining adaptable for various events.
Street-level tenants and amenities
On the ground floor, Presidio Bay has already lined up a few names: Arsicault Bakery is set to take a retail spot, and CANOPY will anchor coworking operations, per Urbanize SF. CBRE is handling leasing for office and retail space, while The Main Post, Presidio Bay’s hospitality arm, will manage day-to-day building services. Planned tenant amenities include a gym, steam room, cold plunge, and a performance lab for wellness programming aimed at keeping workers in the building beyond the usual 9-to-5.
Why this matters for downtown
Local journalists and developers have framed The Spear’s overhaul as part of a broader push to bring nightlife and cultural programming back to the Financial District, a point underscored when crews raised the first tower crane downtown since the pandemic, as reported by the San Francisco Chronicle. Presidio Bay’s Cyrus Sanandaji has described the project as a vote of confidence in the city’s future, and Phil Spiegel says he wants a lively, accessible spot that brings people downtown more often than only on special occasions. If the current schedule holds, the rooftop could become one of the neighborhood’s most visible hospitality draws within about a year of the main building’s completion.
Presidio Bay expects The Spear to open for tenants in late 2026, with the rooftop slated for early 2027, according to WhatNow. More details on the rooftop’s name, menu, and public opening date are expected to surface as construction progresses.
