The $400 million makeover of the Transamerica Pyramid is nearly complete, and while we don't know too much about the new restaurants on the way, we've got some new details about the renovation.
You can already visit the sleek new lobby of the iconic building that was once home to the Transamerica insurance company — and is likely stuck with its name. Developer and real estate investor Michael Shvo and his company acquired the building, along with the adjacent 545 Sansome, in 2020, and announced their intention to return the building to Class A office status and offer special amenities, including an exclusive private club and restaurants.
The original estimate was that renovations would cost $250 million, but they're now being touted as costing $400 million.
Restaurants and lounges are reportedly going in the building's base — the first four floors are going to be occupied by Core Club, which has two other locations in New York and Milan — as well as on the pyramid's top floor. But these will only be accessible to Core members and their guests.
Miami-based chef Brad Kilgore (Oise, Alter, Kaido, Pizza Freak Co) has been brought in to work on the restaurants, and Kilgore will also reportedly be opening a restaurant in what's now called Transamerica Three, the former 545 Sansome. The Chronicle reports this week on this development, but neither Shvo nor Kilgore's team have released any details on what this restaurant may be. (For reference, Oise combines Italian and Japanese cuisine, and Alter, which opened in 2015 and closed in the pandemic, was billed as serving Progressive American cuisine.)
Like the rest of the renovation, the renovated 545 Sansome, which is getting six new floors, is being done by architects Foster + Partners, who designed the Union Square Apple Store, as well as Apple's spaceship campus in Cupertino.
The Chronicle further reports that Shvo has partnered with TEDAI, the AI conference from the TED folks, and the next TEDAI will use the Transamerica spaces as its hospitality partner from October 22 to 23. The conference is expecting around 1,500 attendees.
Also in the works is a full-scale renovation of the Transamerica Redwood Park, which had become kind of dark and sad in recent years. Renderings show a new water feature, retail shops, and an outdoor cafe or bar.
The big reopening and unveiling of the Transamerica complex is scheduled for September 12, and Shvo remains optimistic that it will contribute to the city's efforts to liven things up downtown.
"When we open in September to the public, and introduce the new shops and restaurant and everything that we’ve been doing there, it will totally change the neighborhood," Shvo tells the Chronicle this week. "It will give it a big boost, and essentially extend the Jackson Square neighborhood into the Transamerica Redwood Park."
Shvo previously said, in 2022, "My confidence in San Francisco’s recovery isn’t just anecdotal. Economic data shows that the city is at the beginning of a great American comeback story."
Previously: New Owner of Transamerica Pyramid Says It Is Around 80% Leased, Promises New City Park at Its Base
Photo: Joseph Barrientos
