Shō Group is no longer opening the two-story space in the lush elevated park above the Salesforce Transit Center, CEO Josh Sigel confirmed. The news was first reported by SFGate. (The San Francisco Chronicle and SFGate are both owned by Hearst, but operate independently).
Shō Group (formerly JSSK Group, best known for Berkeley restaurant Iyasare) had planned to open two Japanese fine-dining restaurants in the rooftop space, as well as a ground-floor market and a members-only club. Iyasare chef Shotaro “Sho” Kamio was set to lead the downstairs dining room and chef Masaki Sasaki, known for earning a Michelin star at Maruya and the now-closed Sasaki, an upstairs sushi bar.
Sigel cited numerous challenges that led to the end of the project, including prohibitive construction costs in San Francisco and concerns from investors about the state of the city.
“We ultimately could not address the many concerns brought about by potential investors and capital partners, most of which have been around the future of S.F. and the rising costs of constructing the restaurant,” he wrote in an emailed statement.
One of the restaurants’ main attractions — a rooftop location with sweeping views of the city skyline — turned out to be a nail in the coffin. Final construction estimates, which ballooned since initial figures in 2019, showed about a 20% premium to build at Salesforce Park as compared to other sites in San Francisco, Sigel said.
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