Fourth Street Market Hall Development Application Submitted

Goldstone Management has submitted a formal development application to the City of San Rafael for the Fourth Street Market Hall project at 924 Third St. The application, filed October 5, 2026, proposes an eight-story mixed-use building with 197 residential units for older adults and approximately 25,000 square feet of ground-floor commercial space.

The formal application will kick off the City review process which includes confirmation that the application has provided the minimum information per City standards.

Preliminary Application Background

Goldstone Management filed a Senate Bill (SB) 330 preliminary application in April 2026. That proposal called for a 24-story building with 345 residential units and 24,955 square feet of ground-floor commercial space.

A preliminary application provides basic information about a project in order to lock in development regulations and fees that are applied to the formal application. A formal application includes the detailed plans (site plan, floor plan, and elevations), project detailed description, technical development studies, and other materials needed for a City review for compliance with applicable development regulations.

"It's common for a project to evolve between a preliminary application and a subsequent formal application," said Micah Hinkle, Community and Economic Development Director. "Staff will review the full project application, and we will share updates with the community as the process moves forward. If compliant with development standards, the project has the potential to meet a number of the City's objectives related to housing and downtown vitality."

Project Details

The applicant proposes to demolish the existing commercial buildings and parking on the site and build the eight-story mixed-use project. The proposal includes 197 senior independent living rental units with nine (9) dedicated low-income units, and approximately $3.5 million in-lieu fee to the City of San Rafael's Affordable Housing Trust Fund. The project includes 261 parking spaces. The 25,000 square feet of ground floor retail, food service, and commercial uses fronting 4th Street.

The site covers six (6) parcels totaling about 326,545 square feet and is located in the central core of downtown San Rafael.

The preliminary application invoked a Categorical Exemption from the California Environmental Quality Act (CEQA) under Assembly Bill (AB) 130.

Under State law SB 330, the City may hold no more than five public hearings on the project, including appeals. The City must also apply adopted objective standards when deciding whether to approve, condition, or deny the development application.

Learn More

Plans, documents, and updates are on the project webpage. Sign up there for project email updates. Questions? Contact Kristina Estudillo and the project team by emailing [email protected].