San Francisco Residential Development Report for December 2016
San Francisco Development Report-October 2016
San Francisco Residential Development Report-September 2016
San Francisco Development Report - August 2016
Is Facebook Considering Opening San Francisco Office?
Just Sold in San Francisco & Marin!
The Costa Group is excited to share our most recent sales in San Francisco and Marin County.
From San Francisco to Marin County we've sold hundreds of homes and placed families of all shapes and sizes into Single Family Residences, Urban Dwellings, Penthouses, Condominiums, New Developments, Victorians, Edwardians, Apartments, Flats and Income Properties.
We have an intimate knowledge of the City of San Francisco and the Marin County neighborhoods and amenities.
With more than 30 years of experience, we are your partners: we listen and understand your requirements and desires and we advocate and negotiate to get you the best price possible.
From Noe Valley to Mill Valley, we invite you to experience The Costa Group's hands-on availability, involvement and concern for you and your lifestyle.
When you are ready to make a move, The Costa Group provides extraordinary service to elevate your life and bring you home.
60+ Apartments Coming to San Francisco's Upper Market
Earlier this month, San Francisco's Planning Commission overwhelmingly approved the construction of a new, 7-story building at Market and 14th Streets. The building will include 62 residential apartment units and will take advantage of the location's proximity to public transportation by offering parking for bicycles but not vehicles.
The complex will be on the site of the former Home Restaurant, which closed in 2011 after declaring bankruptcy. It has taken 5 years for the future of this unused parcel to be decided upon. The parcel is an odd triangular shape and includes challenging slopes but city planners felt it would benefit from substantial development, especially because of the 5 Muni lines all within a block of the property.
“This is an important corner, as you kind of enter into the Castro at two major intersections,” stated Commissioner Rich Hillis.
Enter Brian Spiers Development, the San Francisco-based real estate firm that is spearheading the mixed use complex that includes 62 residential units and ground-level retail. Though the building's proposed design underwent some reworking of the exterior as well as the floor plan of the retail space, the planners unanimously decided to approve Spier's project.
Brain Spiers Development rendering of approved building at 2100 Market Street.
“To those who were critical of the building, one group said it wasn’t dramatic enough…others said it didn’t fit in with the Victorians…but I think it strikes a good balance,” said Commissioner Michael Antonini.
Because of the vicinity to multiple Muni lines all within a one block radius, the building will not include any parking areas for motorized vehicles. Instead, it will offer bicycle parking to encourage residents to take advantage of public transportation.
Commission President Rodney Fong noted that San Francisco needs new housing immediately, and further delaying this project could prevent the construction of new homes.
San Francisco Headlines
Click here to read the complete Vanguard San Francisco Headlines in their entirety.
Cow Hollow Condo Offers Incredible Rooftop Views
If you're looking for great rooftop views of Angel Island, the Golden Gate Bridge, the Marin Headlands and the Bay, this Cow Hollow condo at 2916 Fillmore is the place to be. With only 6 residences, this condominium affords a perfect location as well as peace and quiet.
The unit itself is on the ground floor of the 1906 building and offers 1,074 square feet of living space in the 2 bed, 1 1/2 bath residence. Gorgeous hardwood flooring, in-home office and modern kitchen as well as a ideally situated with an abundance of shops, bars and eateries.
The stunning views offered from the rooftop deck.
If you're interested in scheduling a private showing of this or any other property in San Francisco or Marin County, contact The Costa Group.
Construction Commences on $6 Billion Treasure Island Redevelopment
One of the largest mixed used projects in the Bay Area, the $6 billion redevelopment of Treasure Island and Yerba Buena Island has kicked off with initial infrastructure work. This includes demolition of 40 existing buildings as well as creation of new roadways, utilities and parks. The first phase will include approximately 2,100 residential units, up to 500 hotel rooms and 90 acres of parks, built on 45 acres of Treasure Island's western shoreline and the 80-acre Yerba Buena Island.
Vertical construction of new housing could begin in 2017, beginning with around 250 townhomes on Yuerba Buena Island, followed by 400 to 500 units in four to five story buildings on Treasure Island. The project's planned 8,000 residential units are expected to be constructed over the next 10 to 15 years, depending on market demand.
San Francisco Community & Development Update
Below is a quick synopsis of recent community activity and development in San Francisco.
Community
Residents protest Ellis Act evictions of mid-Market building
A group of artists and musicians living in an 84-unit building on Market Street are going toe-to-toe with their landlord after being handed notices of what they say is the largest Ellis Act eviction in San Francisco history for their live-work units late last month.
Supervisor Peskin Introduces Idea for Building ADUs Citywide
Last week at the full Board, District 3 Supervisor Peskin announced legislation to allow for the construction of new accessory dwelling units (ADUs), aka in-law units, throughout San Francisco. At the hearing, he referred to building new in-law homes as a “pragmatic infill strategy” that could potentially add up to 40,000 new homes throughout the City.
San Francisco Planning Takes Lead in Modernizing Environmental Review for New Development Projects
For decades, environmental analysis of transportation impacts focused on how quickly cars moved through a given intersection, a flawed approach that was expensive to calculate, did little to benefit the environment and promoted urban sprawl rather than smart infill growth. The new approach is more comprehensive, looking at the method of travel, how far the person is going, and how many other people are in the vehicle to determine the impact on the environment.
Development
New rendering shows building that will replace Flax Art & Design
Solomon Cordwell Buenz Architecture is behind the new design, which incorporates more of a natural, textured element to the facade. The building is still slated to be a nine-story, 162-unit structure with subterranean parking, along with 4,500 square feet of ground-floor retail space.
Canton Seafood Condos Closer to Reality
The plans for razing the two-story Canton Seafood & Dim Sum restaurant at 655 Folsom Street and constructing a modern 14-story building, with 89 condos over 2,300 feet of commercial space and an underground garage for 36 cars with its entrance on Hawthorne, have just been granted an Eastern Neighborhoods based exception from having to complete an Environmental Impact Report (EIR).
Ground Breaks On Condos, Restaurant At Former Pagoda Theatre
...construction officially began this week on the Palace at Washington Square, a condo building with ground-floor restaurant space that will occupy the former Pagoda Theatre site at 1731 Powell Street, near Columbus Ave.
Transbay Joint Powers Authority Approves $160 Million Cash Offer Pre-entitlements
Generally zoned for 750 feet, Parcel F is the last remaining site available for development of a super-tall building in downtown San Francisco and the final parcel that can directly connect to the Transbay Transit Center Rooftop Park via a pedestrian sky bridge. F4 proposes to construct a tower on Parcel F containing 200-300 hotel rooms, 200 residential units, and 250,000-425,000- square-feet of office.
New Condos Proposed for Big Bubble Site
The Cow Hollow parcel upon which the two-story Big Bubble Laundromat sits at 2525 Van Ness Avenue, adjacent to Amero, is zoned for development up to 65-feet in height. And having recently acquired the site, a Vancouver-based developer, the Executive Group, is working on plans for a seven-story building to rise. The proposed 65-foot building includes 27 condos over 1,500 square feet of café/retail space fronting Van Ness Avenue and an underground garage for 27 cars.
Tenant Buyout Clears the Way to Raise the Roof on Mission
With Anna’s Linens on Mission having closed, and the master tenant from which Anna’s had been subleasing having been paid to forfeit the remaining 30 years on their 99-year lease, plans to renovate the existing 12,000-square-foot structure and add four floors of residential units above are in the works.
Checking In On Octavia's Planned Micro-Unit Apartments
It's been over a year since we covered plans for Parcels M and N, two narrow Octavia Boulevard-adjacent lots where two micro-unit apartment buildings are in the works. Despite the lack of visible progress, the project is still trucking along behind the scenes. Architect Douglas Burnham from envelopeA+D, which is handling the development, gave us an update.
For the complete list of related articles, click here.
San Francisco Development Report-March 2016
News & Highlights
- The resale price per square foot is above $1,000 for the first time since December 2015.
- 60% more resale condominiums on the market in March VS February.
- 450 Hayes is almost completely sold while the 4th floor penthouses are priced at $1,700 per square foot.
- Sales have commenced at The Pacific Row House Collection with 5 of 10 units already in contract.
- Sales set to launch this month for 388 Fulton and 69 units in Hayes Valley.
- 5 market-rate units remain available at 1001 17th in Potrero Hill.
- More unit closings were released for Arden in Mission Bay with a price per square foot average of $1,015.
- Initial closings for Lumina Tower B have been released with a price per square foot of $1,170.
Market Performance
Residential Pipeline Summary
Projected & Historical Supply
If you are interested in a private showing of one of the many properties on the market in San Francisco or if you have a unit you are looking to list, contact The Costa Group.
