SAN FRANCISCO MARKET UPDATE

JULY 2018 wrap-up

 

Single-Family Homes

The value of homes in San Francisco continues to grow during the summer season. In fact, the median sale price for single family homes reached a new high of $1.7MM for the month of July; a 5% increase from June, and an 18% increase from this time last year.

The median market time remains fairly consistent at 14 days, while the number of homes sold has dropped by 26% compared to July of last year, indicating a tighter supply of inventory.

Citywide, homes sell at approximately 17% over their list price. Submarkets that experienced the most dramatic increases in sales over list price include Excelsior, Portola, Westwood Park, Sunnyside, Bernal Heights and Glen Park.

  YEAR-OVER-YEAR COMPARISON:  SINGLE FAMILY RESIDENCES

YEAR-OVER-YEAR COMPARISON: SINGLE FAMILY RESIDENCES

  YEAR-TO-DATE 2018:  SINGLE FAMILY RESIDENCES

YEAR-TO-DATE 2018: SINGLE FAMILY RESIDENCES

 

Condominiums and TIC's

The value of San Francisco condominiums and TIC are also on the rise. While not as high as the last peak in May, the median sale price hit $1.195MM for the month of July, which is a 4% increase from this time last year.

The median market time has decreased by 14% to 18 days. Surprisingly, the number of condominiums and TIC sold in July actually increased 2% from last year.

Citywide, condominiums and TIC sell for approximately 11% over their list price. Submarkets that experienced the most dramatic increases in sales over list price include the Sunset, Castro, Duboce Triangle, and Noe Valley. 

  YEAR-OVER-YEAR COMPARISON:  CONDOMINIUMS/TIC

YEAR-OVER-YEAR COMPARISON: CONDOMINIUMS/TIC

  YEAR-TO-DATE 2018:  CONDOMINIUMS/TIC

YEAR-TO-DATE 2018: CONDOMINIUMS/TIC


MEDIAN AREA VALUES

 

MEDIAN PROPERTY VALUES - SINGLE FAMILY HOMES

MEDIAN PROPERTY VALUES  - CONDO/TIC

For past San Francisco market updates, please visit Vanguard Properties' archive.

Real Estate market in the San Francisco Bay Area is dynamic and ever-changing. Small nuances are usually a great factor to property values and their future growth. Please see the graph below for a snapshot of the market's general performance within the past five years and contact us with any questions or to request analysis tailored to your specific goals as there are always unique opportunities we can help realize.

TOP 5 - July

TOP FIVE SALES - Single Family Houses

 2209 Pacific Ave | Pacific Heights   $12,300,000   $1,832/SqFt  5 bed/6.5 bath  6,715 SqFt

2209 Pacific Ave | Pacific Heights

$12,300,000

$1,832/SqFt

5 bed/6.5 bath

6,715 SqFt

 3323 Clay St | Presidio Heights   $9,350,000   $1,437/SqFt  6 bed/6.5 bath  6,505 SqFt

3323 Clay St |
Presidio Heights

$9,350,000

$1,437/SqFt

6 bed/6.5 bath

6,505 SqFt

 182 32nd Ave |  Sea Cliff   $6,750,000   $1,168/SqFt  5 bed/5.5 bath  5,780 SqFt

182 32nd Ave | 
Sea Cliff

$6,750,000

$1,168/SqFt

5 bed/5.5 bath

5,780 SqFt

 146 Jordan Ave | Jordan Park/Laurel Hts   $5,200,000   $1,118/SqFt  5 bed/4.5 bath  4,652 SqFt

146 Jordan Ave |
Jordan Park/Laurel Hts

$5,200,000

$1,118/SqFt

5 bed/4.5 bath

4,652 SqFt

 2760 Lyon St | Cow Hollow   $4,995,000   $1,699/SqFt  4 bed/3.5 bath  2,940 SqFt

2760 Lyon St |
Cow Hollow

$4,995,000

$1,699/SqFt

4 bed/3.5 bath

2,940 SqFt


TOP FIVE SALES - Condominiums

 201 Folsom St #38A | South Beach   $4,832,000   $3,082/SqFt  2 bed/2 bath  1,568 SqFt

201 Folsom St #38A |
South Beach

$4,832,000

$3,082/SqFt

2 bed/2 bath

1,568 SqFt

 357 Tehama St #3 | South of Market   $4,050,000   $1,173/SqFt  3 bed/2 bath  3,452 SqFt

357 Tehama St #3 |
South of Market

$4,050,000

$1,173/SqFt

3 bed/2 bath

3,452 SqFt

 3141 Gough St | Marina   $3,550,000   $1,605/SqFt  4 bed/2.5 bath  2,212 SqFt

3141 Gough St |
Marina

$3,550,000

$1,605/SqFt

4 bed/2.5 bath

2,212 SqFt

 2876 Washington St | Pacific Heights   $3,300,000   3 bed/3.5 bath

2876 Washington St |
Pacific Heights

$3,300,000

3 bed/3.5 bath

 2121 Broadway #3 | Pacific Heights   $3,195,000   $1,149/SqFt  4 bed/4 bath  2,781 SqFt

2121 Broadway #3 |
Pacific Heights

$3,195,000

$1,149/SqFt

4 bed/4 bath

2,781 SqFt


One Cool Thing


San Francisco Headlines

Headlines by Alek Keytiyev San Francisco Realtor

WHAT YOU MISSED THIS WEEK:

California tenants will have more time to respond to eviction lawsuits

Plans for Massive Recology site redevelopment have been revealed

3-unit development on Stanyan Street slated for approval 

Height reduction and increased density for Mid-Market tower 

The pipeline of apartments and condominiums reaches 69,600


COMMUNITY

 

Governor Brown Signs Bill Giving Tenants More Time to Stave Off Eviction

"California tenants will have more days to pay rent or respond to eviction lawsuits, according to a bill Governor Jerry Brown signed into law on Wednesday. State law maintains that tenants have three days to comply with lease terms or pay rent, and five days to respond to eviction proceedings. The new provision swaps calendar days to court days — no longer counting weekends and holidays in the respondent’s timeline." 

CONTINUE READING ON BUSINESS TIMES

The Giants Select Tishman Speyer As Mission Rock Development Partner

"The San Francisco Giants have partnered with Tishman Speyer in a JV to develop Mission Rock, a mixed-use neighborhood near AT&T Park. Tishman Speyer will work alongside the Giants to design, build, lease and program the new neighborhood." 

CONTINUE READING ON BISNOW

Chinatown Public Housing Complex Celebrates Makeover

"The conclusion of a year-long effort to rehabilitate 92 affordable housing units in Chinatown for seniors and people with disabilities was celebrated Thursday at 990 Pacific Ave. The first Chinatown project to be overhauled under the City’s Rental Assistance Demonstration (RAD) program, the redevelopment included seismic retrofit work, interior upgrades and enhance common spaces, and called for the temporary relocation of over 100 residents." 

CONTINUE READING ON EXAMINER


DEVELOPMENT PIPELINE

 

Plans for Outer Mission Infill Development Emerge

 "Purchased for $2 million mid-2016, plans to level the Grant’s Auto Repair shop and parking lot parcels on the southeast corner of Mission Street and Foote Avenue, on the border of the Outer Mission and Crocker Amazon, have been drafted... And as envisioned, the development will yield 11 single room occupancy (SRO) units with a shared central kitchen and dining room, and a two-bedroom “owners unit” with a private kitchen (and living room), over a three-level elderly care facility (RCFE) with a total of 75 beds and a garage for one van." 

CONTINUE READING ON SOCKETSITE

Stanyan Street Addition Slated for Approval

"With American Cyclery having shuttered their “too” annex at 858 Stanyan Street at the end of 2016 in anticipation of a significant rent hike, the 2,650-square-foot, single-story building on the northeast corner of Stanyan and Frederick is now on the market for $2.5 million... Having sold at asking, Elevation Architects has since drafted plans for a four-story addition to the structure, a project which would yield three (3) contemporary condos, two (2) three-bedrooms and one (1) four, over a renovated, but smaller, commercial space and a larger garage for three (3) cars." 

CONTINUE READING ON SOCKETSITE

Less Height, More Density for Proposed Tower to Rise Right Here

 "While plans for a new Mid-Market tower to rise on Nordstrom’s underdeveloped parking lot parcel at 469 Stevenson Street continue to move forward, it would appear as though the expected height of said tower has been reduced by 22 percent. Originally envisioned to rise up to 366 feet in height, a recent set of elevations drafted by Solomon Cordwell Buenz (SCB) for the project team has the tower reaching a height of 284 feet, which is still 124 feet above the existing 160-foot height limit for the site and for which California’s Density Bonus law would need to be invoked. At the same time, the unit count for the (squatter) tower has been increased from 454 to 468, the majority of which (74 percent) would be one-bedrooms, with parking for 234 cars, nearly 22,000 square feet of open space (including a new solarium and terrace atop the tower’s 14-foot-tall podium), and 5,500 square feet of ground-floor retail space intended “to enliven” the development’s frontages along Stevenson and Jessie Streets." 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

Record Pipeline of Development in San Francisco Continues to Grow

"With the number of newly proposed units of housing to be built in San Francisco having outpaced the number of units that recently finished up construction for the third quarter in a row, the overall pipeline of apartments and condos under development in San Francisco increased by 1,800 in the second quarter of 2018 to a record 69,600, which is 6,100 more than at the same time last year." 

CONTINUE READING ON SOCKETSITE

Where They’re Building in San Francisco

"As we reported earlier this week, there are now nearly 70,000 units of housing in San Francisco’s overall pipeline of development, which includes all units which are under construction, permitted to break ground, entitled to be built or simply proposed. And as newly mapped below, said pipeline includes 7,100 units which are currently under construction in San Francisco, which is 19 percent below the current cycle peak of 8,800 units under construction in the third quarter of 2015 but nearly 25 percent above the 10-year average and 13 percent more than at the end of last year." 

CONTINUE READING ON SOCKETSITE


August 31, 2018

Headlines by Alek Keytiyev San Francisco Realtor

WHAT YOU MISSED THIS WEEK:

Mayor London Breed calls for in-law applications to be expedited

Plans are in the works for 3-unit building in Bernal Heights 

Polk Gulch project has been updated to include 100-units of housing

Compass acquires Pacific Union

Index for Bay Area home values inches up


COMMUNITY

 

Mayor Calls for In-Law Unit Applications to be Expedited

 "Under an executive directive issued by San Francisco Mayor London Breed, hundreds of applications for new rent-controlled in-law units are expected to be approved in the coming months, Breed announced Thursday. Breed’s executive directive aims to help alleviate the city’s housing crisis, laying out a plan for all outstanding applications for in-law units, also known as accessory dwelling units, to be responded to within six months. In addition, all new applications from here on will be acted upon within four months, according to Breed’s office." 

CONTINUE READING ON EXAMINER


DEVELOPMENT PIPELINE

 

Plans for Building up in Bernal Heights

"Plans to level the former cottage turned garage and “Udder Room”for the adjacent Avedano’s Holly Park Market on Cortland Avenue are in the works. As designed by Schaub Ly Architects and newly rendered below, a four-story building will rise up to 40 feet in height upon the 237 Cortland Avenue site, with three three-bedroom condos over an expanded retail space, sans a garage, across the building’s ground floor." 

CONTINUE READING ON SOCKETSITE

Mayor Calls for In-Law Unit Applications to be Expedited

 "Under an executive directive issued by San Francisco Mayor London Breed, hundreds of applications for new rent-controlled in-law units are expected to be approved in the coming months, Breed announced Thursday. Breed’s executive directive aims to help alleviate the city’s housing crisis, laying out a plan for all outstanding applications for in-law units, also known as accessory dwelling units, to be responded to within six months. In addition, all new applications from here on will be acted upon within four months, according to Breed’s office." 

CONTINUE READING ON EXAMINER

Bigger Plans for Prominent Polk Street Corner

"Plans to level the Out of The Closet thrift store complex on the southeast corner of Polk and California and develop a 7-story building with 63 condos over 8,000 square feet of new retail space and an underground garage for 41 cars were approved back in 2016... But the Polk Gulch project has yet to break ground. Instead, new plans are now being drawn for an 8-story building to rise up to 87 feet in height on the 1567 California Street site, with 100 units of housing over 10,000 square feet of retail space and zero (0) off-street parking spots." 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

Compass Acquires Pacific Union

"Compass, a real estate brokerage and technology platform valued at $2.2 billion, has purchased San Francisco-based brokerage Pacific Union International, the firm said Wednesday. The move comes at the heels of Compass snapping up Paragon Real Estate Group, also based in San Francisco, less than two months ago." 

CONTINUE READING ON BUSINESS TIMES

Key Trends of Homes for Sale in San Francisco Hold

"Heading into a typically quiet Labor Day weekend, after which the inventory of homes on the market in San Francisco typically starts to climb, the number of homes listed for sale in the city (545) is already running 14 percent higher versus the same time last year (480) and 33 percent above its mark at the same time in 2015 (410) which remains an inflection point for the current cycle."

 CONTINUE READING ON SOCKETSITE

Index for Bay Area Home Values Inches Up, NY Slips, Vegas Jumps

"Having ticked up 1.1 percent in May, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area– which includes the East Bay, North Bay and Peninsula – inched up 0.5 percent in June to an all-time high and is running 10.7 percent higher versus the same time last year, but with uneven gains across the market." 

CONTINUE READING ON SOCKETSITE


August 24, 2018

Headlines by Alek Keytiyev - Real Estate Agent Realtor in San Francisco

WHAT YOU MISSED THIS WEEK:

Breed and Pelosi unveil new Sala Burton public housing

48-unit Western Addition development newly rendered

Timing for massive India Basin development pushed back

17-unit Hayes Valley redevelopment could be approved next week

Lot parcel zoned for development in Mission about to hit market


COMMUNITY

 

Breed, Pelosi Unveil Newly Renovated Public Housing in Tenderloin

"House Minority Leader Nancy Pelosi, D-San Francisco, joined San FranciscoMayor London Breed today in the city’s Tenderloin neighborhood to unveil 89 newly renovated affordable housing units. The units at Sala Burton Manor at 430 Turk St. have been rehabilitated to include modernized elevators, renovated interiors, plumbing and electrical enhancements, redesigned floor plans and increased accessibility." 

CONTINUE READING ON EXAMINER

Warriors' Coach Steve Kerr Pays 26 Percent Over Asking Price for Presidio Heights Home

"Just as the Golden State Warriors are preparing for their new address at the Chase Center, Coach Steve Kerr has gotten some new digs of his own. The National Basketball Association three-time championship coach purchased a 4,000-square-foot Presidio Heights home for $7.35 million — 26 percent higher than the property's $5.799 million asking price. The premium equated to Kerr paying $1,837 per square foot." 

CONTINUE READING ON BUSINESS TIMES


DEVELOPMENT PIPELINE

 

Ambitious Franklin Street Infill Project Newly Rendered

"Assuming plans to relocate and redevelop the historic ‘Englander House’ at 807 Franklin Street are approved, a new 8-story infill building with 48 residential units over a garage for 17 stacked cars and 80 bikes could then rise up to 80 feet in height upon the Italianate’s current 10,300 square foot parcel which includes a 5,500 square foot side yard now used for parking. As designed by Kerman Morris Architects, the 48 units – a mix of 15 one-bedrooms, 29 twos and 4 threes – would average a little under 900 square feet apiece. As proposed by the project team, all the units will be market rate with an in-lieu fee proposed to satisfy the requirements of the City’s Inclusionary Affordable Housing Program. And yes, the adjacent Shell Station site on the corner of Turk is zoned for development up to 80 feet in height as well." 

CONTINUE READING ON SOCKETSITE

Lucca’s Mission District Parking Lot in Play

 "While Lucca Ravioli is expected to remain in business on the southwest corner of Valencia and 22nd Street in the Mission, its detached parking lot parcel a few doors down at 1120 Valencia Street is about to hit the market with a $2.995 million price tag. The parking lot parcel, which measures 4,132 square feet, is principally zoned for development up to 55 feet in height.  And sited within the Valencia Street Neighborhood Commercial Transit District, the development of ground floor commercial space with housing above will be encourage by the city and the parcel’s redevelopment wouldn’t require the inclusion of any parking." 

CONTINUE READING ON SOCKETSITE

New Timing and Affordability for Massive India Basin Development

"With the projected timing to secure the necessary entitlements to move forward with Build Inc’s massive India Basin project – a proposed development which could now yield up to 1,575 units of housing, 1,800 parking spaces, 209,000 square feet of commercial space and 5.6 acres of open space along San Francisco’s eastern shoreline – having been pushed back to the end of this year, the target date for breaking ground has formally been pushed back as well." 

CONTINUE READING ON SOCKETSITE

Concept Proposals for Fort Winfield Scott Slated for Formal Review

 "The concept proposals for redeveloping roughly two dozen buildings in the Presidio, buildings which are spread across 30 acres near the Golden Gate Bridge and comprise Fort Winfield Scott, will be presented and formally reviewed by the Presidio Trust’s Board of Directors on Thursday, September 27." 

CONTINUE READING ON SOCKETSITE

Mortuary Redevelopment Closer to Reality

"Plans to add a setback fourth story and rear addition to the Bryant Mortuary at 635 Fulton Street and convert the historic Hayes Valley structure into a residential building could be approved by San Francisco’s Planning Commission next week... The two buildings would then be connected internally, the Victorian would be expanded as well and the combined development would yield a total of 17 residential units averaging around 930 square feet apiece and without any off-street parking (other than for 32 bikes) as proposed and recommended for approval by San Francisco’s Planning Department staff." 

CONTINUE READING ON SOCKETSITE

Transbay Budget for Sinking Tower Litigation Nears $16 Million Mark

 "On the heels of the grand opening celebration for San Francisco’s new Transbay/Salesforce Transit Center two weeks ago, the Transbay Joint Powers Authority (TJPA) is about to seek board approval to increase their legal budget related to the litigation of who’s responsible for causing the adjacent Millennium Tower’s excess sinking and lean from $10.7 million as of this past June, which was up from $5.7 million in February, to $15.7 million as of today, with the anticipation of additional increases 'as the need arises.'" 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

California Senate Passes Huge BART Housing Bill

"On Thursday the California State Senate passed AB 2923 on a 26-13 vote, potentially setting up BART to develop thousands or even tens of thousands of new homes on property it owns near stations within the next few years... The bill, introduced in February by Assembly member David Chiu of San Francisco and East Bay rep Tim Grayson, would give the BART Board of Directors authority to create housing on land currently being used as BART parking." 

CONTINUE READING ON CURBED

The Growth of San Francisco’s Downtown

"Of the record 67,800 residential units in the current pipeline of development across San Francisco, roughly 10,000 of the units, or 15 percent, fall within the boundaries of the city’s Greater Downtown, which now includes most of the burgeoning Transbay District but only a sliver of Central SoMa." 

CONTINUE READING ON SOCKETSITE

Facebook Has Leased Over 3M SF Of Bay Area Office In 2018

"Facebook’s leasing momentum doesn’t appear to be slowing down this year, with another entire campus lease in the works in the San Francisco Peninsula. The tech company's leases so far this year have totaled over 3.7M SF, and it now has well over 6M SF in leased or owned property in the Bay Area." 

CONTINUE READING ON BISNOW


August 17, 2018

Headlines by Alek Keytiyev San Francisco Real Estate Agent Realtor

WHAT YOU MISSED THIS WEEK:

WeWork bringing HQ concept to SF

Updated timeline for major Vistacion Valley redevelopment

Tishman Speyer's new Mira Tower set to hit market in the fall

Updated timeline for next Transbay District Park

Three percent more homes on market now (555) compared with this time last year (400)


COMMUNITY

 

WeWork Brings its Newest Office Model to San Francisco to Chase Mid-Size Companies

"Co-working space operator WeWork is bringing its first concept aimed at medium-sized companies to San Francisco. The fast-growing company leased 17,500 square feet in 800 Market St. for its first location of the concept, known as HQ, outside of New York City. The HQ concept is geared toward businesses with 11 to 250 employees that need office space, but don’t want to sign a traditional lease or need the common areas WeWork provides in its co-working locations." 

CONTINUE READING ON BUSINESS TIMES

Former Egyptian Consulate in Contract

"Designed by Bliss & Faville and built following the Great Quake of 1906, the nearly 14,000-square-foot Pacific Heights mansion at 3001 Pacific Avenuewas purchased by the Egyptian government in 1960 and served as its Consulate up until around 2010 when it was last renovated and reinforced. Andhaving hit the market at the end of 2016, priced to “define the city’s high end with a $22-million price tag,” the corner mansion has just returned to the MLS having been virtually staged, with newly rendered photography and a dramatically reduced $16 million list price." 

CONTINUE READING ON SOCKETSITE


DEVELOPMENT PIPELINE

 

New Timing for Major Visitacion Valley Redevelopment


"Shuttered back in 1999, the old Schlage Lock factory and Southern Pacific Railyard parcel along Bayshore Boulevard, near the heart of Visitacion Valley, was leveled 10 years later in order to clear the way for a proposed 20-acre transit village to rise... According to an update from the Visitation Development team, they’re now planning to secure building permits for the first phase of the project, which includes 574 units of housing and the grocery store site, as well as the future Leland Park, across Blocks 1-6 on the northern portion of the site. If all goes as current planned, the first phase of construction will be completed by the end of 2021." CONTINUE READING ON SOCKETSITE

Refined Plans and Timing for the Next Big Transbay District Park

 "The concept design for San Francisco’s future 2.4-acre Under Ramp Park, which will run from the south side of Folsom Street to Howard, between First and Second and predominantly under the Fremont Street off-ramp and bus ramp serving the new Transbay/Salesforce Transit Center, has been refined by Conger Moss Guillard (CMG)... And assuming the refined plans are approved, the construction documents are expected to be finished in early 2020, the construction contract could be awarded and the ground broken by the end of 2020, and the new Under Ramp Park could open to the public in spring of 2022. " 

CONTINUE READING ON SOCKETSITE

Tishman Speyer’s Newest Condo Tower Twists Into San Francisco’s Skyline

"Construction is well underway for Tishman Speyer’s latest condo tower in the Transbay District. The 40-story, 400-foot Mira, designed by Studio Gang, will offer a mix of 392 one-, two- and three-bedroom condos, townhomes and penthouses...  Mira’s sales gallery will open in the fall and occupancy is expected to start fall 2019. Polaris Pacific will be in charge of sales. Prices have not yet been released." 

CONTINUE READING ON BISNOW

Mission District Iglesia on the Market, Positioned for Development

 "Purchased by Monte Sinai Iglesia De Dios for $180,000 in 1995, the former 5,500-square-foot garage at 2859 22nd Street has served as the church’s home since it was converted circa 1998. The church sits on a 4,750-square-foot Mission District parcel which is zoned for development up to 40 feet in height. And noting that the building will be delivered vacant, and is “ideal for investors, developers and owner/users alike,” 2859 22nd Street is now on the market with a $2.999 million price tag." 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

Inventory of Homes for Sale in SF and Trend of Those in Contract

"While the number of homes listed for sale in San Francisco has ticked down 16 percent since the middle of July with typical seasonality in play, there are 3 percent more homes on the market right now (555) than there were at the same time last year (540) and 39 percent more than in the middle of August back in 2015 (400)." 

CONTINUE READING ON SOCKETSITE

Mortgage Rates Slip, Probability of a Rate Hike Hits 98 Percent

"The average rate for a benchmark 30-year mortgage slipped 7 basis points over the past two weeks to 4.53 percent but remains 64 basis points above its mark at the same time last year and within 13 basis points of the seven-year high (4.66 percent) which it hit in May, according to Freddie Mac’s latest Mortgage Market Survey data." 

CONTINUE READING ON SOCKETSITE

Seasonal Hiring Pushes Bay Area Employment to a Record High

"With an above-average bump in seasonal hires, the unemployment rate in San Francisco dropped from 2.7 percent in June to 2.4 percent in July, with the labor force having increased by 8,700 to 574,400 and the number of people residing in the city with a job, including summer interns and college students returning home, having increased by 9,700 to 560,400. And as such, there are now 123,700 more people living in San Francisco with paychecks than there were at the start of 2010 and 5,500 more than at the same time last year versus a year-over-year increase of 9,800 in July of 2017." 

CONTINUE READING ON SOCKETSITE


August 10, 2018

Headlines by Alek Keytiyev San Francisco Real Estate Agent Realtor

WHAT YOU MISSED THIS WEEK:

The new Transbay Transit Center officially opens this weekend

8-unit Marina development redesigned for compatibility with next door development

Plans for a 200-unit building in Hayes Valley have been drafted

New plans for a Transbay District Tower have been drafted

City's Central Waterfront Plan is slated to be adopted by supervisors


COMMUNITY

 

The Opening of San Francisco’s New Transit Center and Park is Here

 "Having won the city’s design competition back in 2007, broken ground in 2010 and been renamed by way of a 25-year licensing deal last year, San Francisco’s new (Transbay) Salesforce Transit Center officially opens this weekend with a block party from noon to 4PM on Saturday, August 11." 

CONTINUE READING ON SOCKETSITE


DEVELOPMENT PIPELINE

 

New Development Opposes New Development Next Door

"The plans for a four-story building to rise on the southern end of the historic San Francisco Gas Light Company’s parcel in the Marina, where a former workshop addition flagged 3620 Buchanan Street currently sits, has been redesigned by Ian Birchall and Associates... The new design would yield eight residential units (a mix of four one-bedrooms, three twos, and one three), with off-street parking for eight bikes and one handicap accessible van/car space. And the proposed building’s finishes have been revised in an attempt to be more “compatible” with both the adjacent landmark building and the new four-story infill building finishing up construction on the former gas station site at 1598 Bay Street next door. " 

CONTINUE READING ON SOCKETSITE

Bonus Plans for Building up in Hayes Valley

"Plans for a nearly 200-unit building to rise up to 130 feet in height on the Hayes Valley site known as 600 McAllister Street, which consists of two adjacent parking lot parcels on the northwest corner of McAllister and Franklin, including the former Central Freeway Parcel D, have been drafted... And as envisioned, the 197 units – a mix of 80 studios averaging 370 square feet apiece, 34 one-bedrooms (615 square feet), 82 twos (750 square feet), and a 1,200-square-foot three-bedroom – would rise over a basement garage for a total of 44 cars and secured parking for 197 bikes." 

CONTINUE READING ON SOCKETSITE

New Plans for a Transbay District Tower Have Been Drafted

"As envisioned, a 350-foot-tall tower could rise on the little 4,000-square-foot parking lot behind the four-story office building at 543 Howard (a.k.a. 48 Tehama Street)... As such, the 23-story addition could yield 49,500 square feet of new office space over a double-height lobby; six (6) full-floor residential units atop the new tower; 11,000 square feet of new event/retail space on the ground floor of the existing building and a 3,500-square-foot POPOS (Privately Owned Public Open Space) atop the low-rise." 

CONTINUE READING ON SOCKETSITE

Plan to Shape the Public Realm of Dogpatch Slated for Adoption

"In the works since 2014, the City’s Central Waterfront / Dogpatch Public Realm Plan, which is intended to both guide and prioritize the development of new neighborhood public spaces, streetscapes and parks, is slated to be adopted by San Francisco’s Planning Commission in two weeks time and by the Board of Supervisors in October." 

CONTINUE READING ON SOCKETSITE

Flower Mart Moving to Bayview, Redevelopment Plans Ramping Up

"With San Francisco’s ambitious Central SoMa Plan moving closer to adoption, which could clear the way for Kilroy’s massive redevelopment of the existing San Francisco Flower Mart site, plans to (temporarily) relocate the Flower Mart are in the works. As proposed, the Chronicle’s former 50,000-square-foot printing plant at 2000 Marin Street, on the northern edge of Bayview, will be demolished and a temporary 115,000-square-foot Flower Mart facility will rise upon the site." 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

Bay Area Developers Investing In Offices Along Transit Boast Higher Rents, Lower Vacancy Rates

 "...As the Bay Area’s economy has boomed and population grown, freeways and streets are getting more congested and commutes last longer. Based on a recent report from the Metropolitan Transportation Commission, traffic congestion is up 80% since 2010. Gridlock has led to an increase in office and multifamily development close to mass-transit hubs and developers are able to garner higher rent for developments close to transit. Millennials and their employers don’t seem to mind paying for higher rents if it means a shorter commute time." 

CONTINUE READING ON BISNOW


 

Prepared by: VANGUARD PROPERTIES - FORWARD THINKING REAL ESTATE