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Hibernia Bank, 1 Jones Street, Tenderloin, San Francisco, California
Scroll down for some interior shots
Hibernia Bank, 1 Jones Street, Tenderloin, San Francisco, California
Tuesday, November 23, 2010
Hibernia Bank building featured in 1997 Film
Great interior shots. Actually a pretty good movie too!
Wednesday, September 15, 2010
CityPlace gets the green light from the Board of Supervisors : City Insider
Let's get this thing started, now!
Click here for all the info
CityPlace gets the green light from the Board of Supervisors : City Insider
Thursday, September 9, 2010
Wednesday, June 9, 2010
Tuesday, April 20, 2010
Thursday, March 11, 2010
Thursday, January 7, 2010
Friday, August 7, 2009
Monday, October 13, 2008
Hibernia mystery deal solved, buyer revealed
October 13, 2008 Monday
LENGTH: 615 words
HEADLINE: Hibernia mystery deal solved, buyer revealed
BYLINE: J.K. Dineen
BODY:
In one of the more mysterious San Francisco real estate transactions in recent memory, the Dolmen Property Group has purchased the historic Hibernia Bank building and plans to bring the baroque structure up to code and then lease it.
Dolmen Property Group Managing Director Seamus Naughten said the $3.9 million investment is a long-term hold and that the plans for the 1892 structure at Jones and Market streets are up in the air. He said his company would complete all necessary construction work to bring the structure back to life. He called the Hibernia "a very unique property with unlimited potential."
"We honestly don't have anything concrete to put in there, but we see the Hibernia as a gem of a building with oodles of potential," he said.
He said the building, which served as the San Francisco Police Department's Tenderloin station from 1991 to 2000 after the bank vacated it, could be used for social events or a cultural use, like a museum.
The sale of the bank building closed Sept. 10 and immediately set the city's real estate community abuzz, as everyone from brokers to historic preservationists to reporters to Tenderloin activists speculated and investigated who had snapped up the baroque bank, without success.
Naughten said Dolmen "tends to run a low-profile operation."
"It's not that we were trying to deceive anyone," he said. "Normally with any transaction we keep as low a profile as possible. It's just our style."
Designed by Albert Pissis and completed in 1892, the building "is one of the finest of San Francisco's uniquely superb collection of modified temple form banks," according to "Splendid Structures," San Francisco Architectural Heritage's guide to city buildings. The building has a stain-glass domed entrance and steel frame clad in carved granite, but has been frequented by rats, pigeons and crack dealers since it was abandoned in 2000.
Dolmen Property Group has developed mostly small to medium sized condominium projects in the Mission and Noe Valley, as well as an 80,000-square-foot commercial project at 2345 Harrison St. in the South of Market. The group developed the 32-unit Citrino condo development in the Mission District with Vanguard Properties.
The seller, Thomas Lin Yun, was represented by independent broker and developer Stanley Lo.
Naughten said his firm had the building on a short list of potential acquisitions for over two years.
"This is a long-term hold for us, while we do not have any specific plans for the space, except to preserve it. We do have some interested parties, who may ultimately occupy the space," he said.
Naughten said the property was well-positioned to benefit from other developments under way in the Tenderloin and Mid-Market districts, including Urban Realty's 250,000-square-foot CityPlace project near Sixth and Market streets and Trinity Properties' planned 1900 residential units, the first phase of which is now under construction at 8th and Market.
Jerry Burns, who worked with Dolmen on the Harrison Street project, said he used to bank at Hibernia and was glad the group had bought it.
"They always uphold their end of an agreement and they have the financial wherewithal to back up what they proposed to do," said Burns. "Anything they did there would be a significant improvement over what is happening with it now."
Asked what he loved about the Hibernia, Naughten said "the simple answer is, what is not to love?'"
"The architecture is second to none in San Francisco , except maybe City Hall," he said.
He said the fact that the principals of his firm were all born in Ireland was not a factor in trying to save what was once an Irish bank.
"We wouldn't let that get in the way of a deal," he said.
Friday, October 10, 2008
Wednesday, February 6, 2008
Monday, November 26, 2007
Ever wonder about the Hibernia Bank Building in San Francisco? Read on!
Various articles
Historic San Francisco Landmark Falling Into Disrepair (BeyondChron, www.beyondchron.com)
The Hibernia Bank represents a case study in San Francisco's entirely inadequate historic preservation laws. Because the bank is owned privately rather that by the City, there are only minimal requirements put upon the owner to keep the building in shape. And since maintaining historic buildings costs money, the owner is not even concerned with meeting these.
Built in 1892, the bank has gone through a series of hands in the past 25 years. As recently as 1987 the bank remained a bank, serving to add foot traffic and some security to the Tenderloin's historically rough lower Turk area. After sitting vacant for some time, The Police Department took it over as a Task Force Station, which they operated for several years until a new station opened up nearby.
The Hibernia went up for sale, and Thomas Lim of Berkeley snatched it up. His organization, the Chinese Cultural and Philosophical Foundation, claimed it would be turning the bank into a Buddhist Temple. It never happened.
Instead, the building has sat almost completely neglected for the past four years, the only work done on it being putting a chain link fence around its entrance and occasionally scrubbing the graffiti. From the upper stories of a nearby hotel, one can see that vandals have been throwing rocks and bottles onto the glass roof of the building's atrium, putting large holes that leave the marble-lined ceilings and elegant offices inside vulnerable to rain damage.
According to Charles Chase, Executive Director of the historic preservation advocacy group San Francisco Architectural Heritage, the City is largely powerless to stop the owner's negligence.
"Even on buildings that are historic landmarks, there are minimal maintenance standards in San Francisco," said Chase. "As long as the building isn't accessible, we have nothing on the books that would require property owners to maintain a building in a way we would like.we can't even force building inspectors to go take a look at it."
A series of offers have been made on the building, both to purchase and to sell it. The last offer came from a local non-profit, Lawyers for the Arts, to create a space for themselves and other non-profits. Yet all offers have been turned down, in large part due to the inability of prospective buyers or renters to contact the owner, Mr. Lim, who many believe does not live in the country.
A similar situation occurred recently with the Belli building in the Jackson Square Historic District. This historic landmark was slowly deteriorating to the point of complete destruction, and might have been totally lost had it not been for the relentless efforts of Supervisor Aaron Peskin. Peskin, along with community activists, ultimately saved the building.
The fact that it would take the concerted efforts of an elected official in order to simply keep up an historic building at a decent level seems ridiculous. Yet because the City lacks any real laws to prevent this from happening, buildings like the Hibernia bank sink into disrepair. After waiting a number of years, owners can then use the building's poor condition as an excuse to demolish it.
Perhaps the most unfortunate aspect of the bank's situation is that it could provide a solid foundation to the revitalization of one of the most neglected parts of the Tenderloin.
"It's an absolutely beautiful space, especially inside," said long-time community activist Brad Paul. "The community could certainly use a bank there, or you could put part of the building to cultural use. It really seems they could find someone to use it - it's such a shame that instead it's just a boarded-up building."
Paul claims that should a prospective owner want to purchase the building, they would be able to obtain historic preservation tax credits that would significantly offset restoration costs. Yet no legal avenue exists to force the current owner to sell the building.
It's time to explore ways to give real teeth to our preservation laws to protect our historic landmarks, no matter who they are owned by. In a city that prides itself on its Victorian homes, its battles against Redevelopment, its Palace of Fine Arts, and so many other issues of historical pride, it's outrageous that private owners can be allowed to slowly demolish important structures through willful neglect.
Every day that goes by, the Hibernia Bank is slowly being destroyed. San Francisco needs find a way to stop this, and fast. The Board of Supervisors must act before another city landmark devolves into dust.
Merchants robbed by old bank (www.sfgate.com)
1892, Union Square, Hibernia Bank Building,
1 Jones St., San Francisco.
Albert Pissis.
San Francisco Business Times Friday, April 28, 2006
The blighted Hibernia Bank building, built in 1892, is an even more difficult problem than the mint or the armory. The building at Market and Jones streets, which real estate sources say is about to be put on the market, has been long owned by Thomas Lin of Berkeley. He purchased the building in the early 1990s and is affiliated with an entity called the Chinese Cultural and Philosophical Foundation.
Lin, who did not return calls seeking comment, originally wanted to use it as a Buddhist temple. Florence Fang, the former owner of the San Francisco Examiner, wanted to buy it and put the newspaper's operations there. Real estate mogul and former political consultant Clint Reilly also looked at it.
More recently, impresario David Addington, who owns the Warfield Theater nearby, has expressed interest.
The building has been the target of complaints with the Department of Building Inspection. It was cited in March for "lack of maintenance" including broken skylights, and water damage.
from the article: Refurbishing landmarks can be a tough job
San Francisco Business Times - by J.K. Dineen