The approval and the open item
The Planning Commission approved the Downtown Project Authorization for One Oak on 19 March 2026. Motion 21904 clears a 41-story tower at 1500-1540 Market Street with 541 apartments. The Emerald Fund filed the application for the owner, Washington Capital. SCB is the architect.
The same hearing adopted the CEQA findings under Motion 21903 and the shadow findings under Motion 21905. A zoning map amendment that lifts the podium height limit from 120 feet to 140 feet carries a recommendation for approval, Resolution 21902, and sits with the Board of Supervisors under Board File 260083.
A group contract on this block waits on that map amendment and on a building permit. No construction start appears in the record.
What the programme gives a planner
The building covers about 508,000 square feet. The podium runs 14 stories to a roof at about 139 feet. The tower runs 41 stories to a roof at 400 feet, 416 feet with mechanical equipment and 436 feet with the elevator overrun and rooftop screening.
The programme carries 541 apartments, 135 off-street parking spaces, three car-share spaces and 237 bicycle spaces. It carries no bookable meeting space and no guest rooms.
The 541 apartments divide into 107 studios, 266 one-bedrooms and 168 two-bedrooms, all market rate. The developer pays an in-lieu fee toward affordable construction elsewhere, reduced to 16.4 percent under 2023 city legislation.
A sales team quoting a house on Gough Street prices the walk to those 541 households.
The Oak Street frontage
The approved project loads from two off-street service loading vehicle spaces and one off-street freight space. The record publishes no passenger drop-off bay and no coach bay.
Oak Plaza, a public plaza and shared public right-of-way, sits inside a portion of the Oak Street right-of-way. That frontage carries residents and deliveries at once.
Five hotels inside 400 metres
Distances below are straight-line from the 1500 Market Street address point on OpenStreetMap coordinates. Inn at Market, 1412 Market Street, 169 metres. Edwardian Hotel, 1668 Market Street, 273 metres. Inn at Gough, 135 Gough Street, 294 metres. Hayes Valley Inn, 417 Gough Street, 377 metres. Inn at the Opera, 333 Fulton Street, 442 metres.
The map record carries no room count and no published rate for these five properties. Confirm capacity with the property before quoting a room block.
The transit frontage
Van Ness station sits 27 metres from the address point on a straight line. The Market Street and South Van Ness Avenue tram stop sits 39 metres away. The site fronts the Van Ness Avenue bus rapid transit lanes.
What a group contract can quote today
Quote the walk radius and the transit frontage. Leave meeting space, a coach bay and a completion date out of the contract until a document carries them.