San Francisco's 88 Spear tower adds rooftop restaurant and event space

Overview

Updated 2 hours ago

A developer and a hospitality operator are building a 500-person restaurant and event space on the roof of a 57-year-old office tower in San Francisco's Financial District. The bet is that a destination venue can revive a building, and a downtown, that emptied out during the pandemic.

Alto88, the rooftop venue, is the first structure of its kind to rise over downtown San Francisco since the pandemic. Presidio Bay designed it light enough to avoid seismic retrofits by using ETFE film, a plastic material that weighs a fraction of glass. The venue opens to the public through a dedicated elevator and is slated to open by summer 2027.

Why it matters

A 500-person rooftop venue on an aging office tower tests whether amenities can draw San Francisco workers and visitors back downtown.

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Key Indicators

500

Guest capacity of Alto88

The rooftop venue can hold up to 500 people in indoor and covered outdoor space.

10,000 sq ft

Size of rooftop structure

Designed below a weight threshold to avoid costly seismic retrofitting.

Stories in the 88 Spear tower before the renovation

Presidio Bay got permission to add a floor to the 11-story building as part of its makeover.

Age of the tower in years

The building, now known as The Spear, dates to roughly 1969.

Voices

Curated perspectives — historical figures and your fellow readers.

Ever wondered what historical figures would say about today's headlines?

People Involved

Cyrus Sanandaji

Founder and managing principal of Presidio Bay

Leading the 88 Spear St. renovation and Alto88 buildout

Phil Spiegel

Hospitality entrepreneur running Alto88

Designing and operating Alto88 with Presidio Bay

Richard Chu

Executive chef for Alto88

Leading food and beverage across three venues

Organizations Involved

Presidio Bay

Real Estate Development Firm

Developer renovating 88 Spear St. and building Alto88

San Francisco-based developer that acquired 88 Spear St. in 2023 and is renovating it.

The Spear (88 Spear St.)

Office Tower

Under renovation; reopening planned for early 2027

11-story office tower in San Francisco's Financial District, now known as The Spear.

Please Management

Hospitality Company

Operating Holbrook House; developing Alto88

Phil Spiegel's hospitality company, which runs Holbrook House and will run Alto88.

Alto88

Restaurant and Event Space (planned)

Under construction; opening planned for summer 2027

The 500-person rooftop restaurant and event space atop 88 Spear St.

Timeline

2023 October 2026

3 events Latest: Today

October 2026
Construction of rooftop venue reported
Today Construction

The San Francisco Standard reports workers are building out the newly added rooftop structure for Alto88.
Today
2025
Spiegel recruited to create Alto88
Partnership

Presidio Bay brings in Phil Spiegel to design and operate a rooftop venue at the tower.
2025
2023
Presidio Bay acquires 88 Spear St. tower
Acquisition

The developer buys the 11-story Financial District office tower and plans a renovation.
2023

Scenarios

Alto88 Opens by End of Summer 2027

Likely Resolves by Q3 2027

Discussed by: The developers themselves; Spiegel has said May if all goes well, and The San Francisco Standard reports construction is ongoing

Construction continues through early 2027, The Spear reopens, and Alto88 begins service by summer 2027 in time for the tourist season and the golden-hour viewings the cocktail menu celebrates.

Delays Push Rooftop Opening to 2028

Possible Resolves by Q2 2028

Discussed by: The article notes construction workers were still building out the structure during an October 2026 hard-hat tour

Permitting, material, or construction delays push Alto88's opening past the end of 2027. The building itself could open first, with the rooftop venue following months later.

301 Battery Events Space Opens

Possible Resolves by End of 2028

Discussed by: Presidio Bay and Spiegel announced the partnership alongside the Alto88 project

The second partnership between Presidio Bay and Spiegel, an events space at 301 Battery St. (the former Federal Reserve Bank of San Francisco), opens for bookings. Chu's kitchen staff would also serve it, making the venture a small restaurant group.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

1939

Top of the Mark (1939)

The Mark Hopkins Hotel opened a rooftop cocktail lounge 19 floors above San Francisco. During World War II it became a gathering spot for servicemen, who made the 'to the V-8' toast its signature.

Then

The bar became one of the city's most famous venues within a few years of opening.

Now

It remains an operating cocktail lounge today, defining the hotel's identity for more than 80 years.

Why this matters now

Spiegel says he wants Alto88 to become that kind of lasting institution, a place people return to for generations. The Top of the Mark shows a rooftop venue can anchor a building's identity for decades.

2008

Beijing Water Cube (2008)

The National Aquatics Center for the 2008 Beijing Olympics was built with ETFE cushions: sealed pillows of plastic film inflated with air. The skin let in daylight, insulated the pool hall, and weighed a fraction of glass.

Then

The Water Cube became a landmark of the Games and a proof point for ETFE as a building material.

Now

ETFE since appeared on airport terminals, university buildings, and stadiums worldwide.

Why this matters now

Presidio Bay turned to the same material to keep the Alto88 structure light enough to avoid seismic retrofits on the 57-year-old tower. The Water Cube is the material's best-known validation.