Michael Shvo of SHVO | Transforming the Transamerica Pyramid and Reshaping Downtown San Francisco | Part 2
Transamerica Pyramid
Courtesy of SHVO
Remastering an Icon
SHVO's $400 million transformation of the Transamerica Pyramid required solving a fundamental problem: how do you renovate an iconic building without destroying what makes it unique? The building's original architect, William Pereira, created brilliant structural innovations but made unusual interior design decisions—hiding 17-foot ceilings behind nine-foot drops and resulting in what was for a long time a standoffish, brutalist entrance
Working with Lord Norman Foster and Foster + Associates, Michael Shvo's team spent three years on an authentic restoration that would make visitors believe the spaces had always existed exactly as they found them. They expanded the Redwood Park to surround rather than sit within the building complex, exposed the original concrete grid structure, and made meticulous decisions about materials—evaluating stone samples with minute grain variations to achieve perfect light reflection at different times of day.
The most revealing insights from this conversation come from Shvo's navigation of San Francisco's entitlements process. When consultants warned that his proposed changes would waste months seeking impossible approvals, Shvo and Foster submitted their plans anyway. Their fast-track approval and subsequent leasing success—90% occupancy with tenants like Morgan Lewis—demonstrates how authentic design vision combined with strategic community engagement can overcome even the most challenging regulatory environments.
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“When you have a vision that’s not in the box of what everybody thinks it should be, you always have people that are naysayers. You don’t need to be distracted by the noise. You need to do what you believe in.”
Courtesy of SHVO
About Michael Shvo
Michael Shvo, founder, chairman, and CEO of SHVO, leads a premier real estate firm specializing in luxury and landmark properties. He manages a portfolio worth over $8 billion in residential, hospitality, and commercial spaces.
As Miami Beach’s largest developer, Shvo is investing nearly $2 billion to transform the historic Art Deco District into a hub for business innovators, bringing together the world’s best brands, architects, and visionaries — like Peter Marino and Lord Norman Foster.
His most anticipated project is his $1 billion restoration of Miami Beach’s iconic Art Deco hotel, The Raleigh, into a Rosewood Hotel and Residences with penthouses projected to sell for $150 million. Nearby, he is also developing three Class A office towers totaling 400,000 square feet on Lincoln Road.
Courtesy of SHVO
Courtesy of SHVO
Episode Timestamps
(01:21) The $400 million budget breakdown and three-year remastering timeline
(02:24) Transforming the brutalist concrete entrance into an inviting space for gathering
(01:33) Remastering an iconic design with Foster + Partners
(11:41) Shvo's community engagement philosophy that guides the entitlement process
(17:31) What's next for Transamerica Pyramid Center, 2 Transamerica, and 3 Transamerica
Connect with Michael Shvo:
SHVO
LinkedIn
The Transamerica Pyramid
Courtesy of SHVO
About your host:
Atif Qadir is a licensed architect and entrepreneur, interested in solving big problems through innovation and technology. He has founded two proptech companies and a real estate development firm, building products ranging from software to workforce housing.
His work has been covered by Technology Review, The Real Deal, Commercial Observer, and Propmodo. He’s also a frequent speaker on the future of buildings and cities on popular industry podcasts and at conferences, including this past year at the Commercial Observer National DEI Conference, Yale AREA Conference, Columbia Real Estate Symposium, Open Data Week NYC and Austin Design Week.
About Michael Graves
The world-famous design firm Michael Graves is also a founding sponsor of American Building. Its namesake, the iconoclastic designer Michael Graves, FAIA was a fierce advocate for people-centric design. His work defines a generation of American architecture and includes the Portland Building, the Humana Building and the Denver Public Library. The 1st season of American Building was filmed live at The Warehouse, his historic home in Princeton, New Jersey:
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