Boston's Suffolk Construction expects to fully recoup an estimated $30 million to $40 million loss from a five-alarm March fire at a residential development it is building in the Mission Bay area of San Francisco.
The San Francisco Fire Department issued a report yesterday deeming the fire accidental. It was unable to rule out that it was ignited by sparks from a welding unit or embers from a grinder that came into contact with wood roofing materials used for the six-story structure, the report states.
The top four floors — set to contain 172 apartments — were wood-framed and completely destroyed, according to Suffolk's Chief Operating Officer Mark DiNapoli.
"We don't know what the damage is because it hasn't been completely assessed yet," he said. "We're still in the process of removing the debris from the fire and evaluating the remaining structure and planning the reconstruction. We expect to be reimbursed for all of our hard-cost construction."
The preliminary loss is estimated at $30 million to $40 million for materials and labor, he said.
The San Francisco Department of Building Inspection said the building had passed all permitted inspections before the fire, the fire department report states.
The damage will set back Suffolk's work by an estimated six to nine months.
A second building, which will house 200 residential units, was unaffected.
San Francisco's BRE Properties Inc., project owner at the time of the fire, has since merged with Essex Property Trust of Palo Alto, Calif.
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