SAN FRANCISCO—The Market Street Place broke ground on Wednesday, November 12, officially marking the beginning of the $150 million development project.

Situated at 935-965 Market Street, between 5th and 6th Streets, the development has been championed as the city’s most highly-anticipated since the 2006 expansion of the Westfield Centre.

The project will be taken-on by Cyprus Equities, whose CEO Chris Maguire envisions the development to be as much an experience as a retail center, drawing customers that would otherwise prefer to do their shopping online.

As the project broke ground, Mayor Edward Lee was present, shovel in hand, stating, “This will be such an attraction for retail, but it will be a huge job booster.”

The 250,000 square foot development is scheduled to open in July, 2016. To date, no leases have been signed for the location.