The long-stalled SoMa lot that neighbors sarcastically dubbed "Lake SoMa" may finally trade stagnant water for residents. A fresh proposal calls for a 25-story tower with hundreds of homes to rise where a water-filled excavation has sat for years, potentially turning a once-neglected stretch of 5th Street into an active residential block.
The Proposal
Novato-based Thompson Builders has filed plans for a 257-foot, 25-story building at 360 Fifth Street, with roughly 272 apartments and a stepped base facing Shipley and Clara streets. The developer says it would tap the state density bonus to more than double the previously approved size of the project and dedicate 30% of the units as affordable, targeting both lower-income and moderate-income households. These details appear in a recent report on the filing and renderings reviewed by the San Francisco Chronicle.
A Notorious Hole in the Ground
The parcel became infamous after a deep excavation turned into a pool of standing, trash-filled water that neighbors and city inspectors flagged in 2024. SFGATE documented the flooded lot along with city notices ordering cleanup. The site also landed in court: the city attorney sued the prior owner over alleged health and building violations, according to The Real Deal.
Permits, Design and Timeline
Building permits and illustrations show designs by Handel Architects and a program that includes parking stackers, a podium-level courtyard and a rooftop deck, with construction documents filed late last year. San Francisco YIMBY reports that the filing lists 164 parking stalls, 180 bicycle spaces and about 9,800 square feet of common open space. Permits reviewed by YIMBY indicate that work could start in mid-2026 on a roughly two-year buildout, assuming the project secures its approvals.
What City Review Will Look Like
The application also seeks to fold in an adjacent 2,000-square-foot parcel and would need conditional-use approval to demolish a small house there before any tower construction begins. "The project has a great deal of potential," Planning Department chief of staff Dan Sider told the paper, as reported by the San Francisco Chronicle. The proposal is slated for Planning Commission hearings, where neighbors and city staff will get their say.
What It Would Mean
If it moves forward, the tower would swap out a multi-year eyesore for hundreds of homes, including a mix of deed-restricted affordable units, boosting residential density along a stretch of Central SoMa that has already seen several reworked development plans. Observers say the pivot toward taller, denser projects reflects shifting Bay Area development economics and ongoing policy debates over taxes and affordability. The actual construction schedule and final unit breakdown will depend on approvals and market conditions described in permit filings reviewed by San Francisco YIMBY.
