DOCSLIB.ORG

San Francisco Condominiums Market Activity March 2015 CONTENTS State of Development

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
San Francisco Condominiums Market Activity March 2015 CONTENTS State of Development San Francisco Condominiums Market Activity March 2015 CONTENTS State of Development . 2 Market Performance . 3 Currently Selling . 4 Recently Sold-out & Resale . 9 NEW Upcoming Developments . 21 Development Pipeline and Projections . 23 . About Vanguard Properties Developer Services . 25 REPORT NOTES The most recent available data has been used, with data from February 2014/2015 used for month- over-month figures . Below Market Rate (BMR) units and senior housing have been omitted from clos- ings and statistics . Note that It can take a few months before closings appear in the records . While the Report focuses on condominiums, select information on apartments is presented as well . PG.1 SAN FRANCISCO CONDOMINIUMS MARKET ACTIVITY MARCH 2015 STATE OF DEVELOPMENT There are just 700 new condominiums available, and Lumina accounts for over 60 percent of the available inventory . As Lumina is achieving record-setting pricing, there is a growing voice of con- cern over a lack of affordable housing production . Consequently, developers are offering up more in the way of Below Market Units and in-lieu fees . Some developers are attempting to develop projects which are “affordable by design”, by creating smaller units, sometimes referred to as micro-units or efficiency units . There is also a growing trend towards dedicating less space to parking, by way of parking stackers and fewer overall parking spaces . Because of recent changes to City development guidelines, developers are offering more bicycle parking, often one space per unit . Retail leasing at new mixed-use condominium developments continues to be challenging, with some storefronts remaining vacant for months, if not years . The race toward grander amenity packages and higher quality unit finishes continues to propel pricing trends, and is a central point of competition amongst new developments . Month-Over-Month Year-Over-Year Currently New Construction $/SqFt Down 2% Up 9% $1,172/SqFt Resale $/SqFt Up 7% Up 15% $1,014/SqFt DEVELOPMENT NEWS... Summit 800 has moved on to its 5th release, with approximately 40 units now under contract . All market rate units are sold-out at 870 Harrison, Amero, 35 Dolores and The San Francisco Shipyard. Lumina is reporting approximately 220 units in-contract . Absorption measures at about 40 units a month . Price per square foot averages at about $1,400 . A 15,000 square foot, two-floor penthouse was recently introduced at $49,000,000 . Mission@1875 is nearly sold out, with approximately 10 market rate units available . Vida is nearly sold-out, reporting a price per square foot of approximately $1,090 . PG.2 SAN FRANCISCO CONDOMINIUMS MARKET ACTIVITY MARCH 2015 MARKET PERFORMANCE Resale condominium pricing is up by approximately 30% year-over-year, while sales volume is down nearly 50% . Apartment pricing is approximately 18% higher year-over-year . These dramatic changes result from chronically low supply, coupled with steadfast demand . It is reasonable to expect contin- ued upward pressure on pricing in the near term . NEW CONDOMINIUM PRICING & VOLUME Median Price & Sales Volume Most Recent Month $1,600,000 60 Median Sale Price: $1,144,500 $1,400,000 50 $1,200,000 $1,000,000 40 Number of Units Sold: 6 $800,000 30 $600,000 20 $400,000 Number Sold Median Sales Price $200,000 10 $0 0 Median Sales Price # Sold RESALE CONDOMINIUM PRICING & VOLUME Median Price & Sales Volume Most Recent Month $1,400,000 300 Median Sale Price: $1,200,000 $1,200,000 250 $1,000,000 200 Number of Units Sold: 84 $800,000 150 $600,000 100 $400,000 Number Sold Median Sales Price $200,000 50 $0 0 Median Sale Price # Sold APARTMENT PRICING Average Price Most Recent Month $4,250 $4,150 Average List Price: $4,021/month $4,050 $3,950 $3,850 $3,750 $3,650 $3,550 Average Price List Average $3,450 $3,350 $3,250 PG.3 SAN FRANCISCO CONDOMINIUMS MARKET ACTIVITY MARCH 2015 DEVELOPMENT SNAPSHOT Currently Selling LUMINA 201 Folsom Street at Beale | South Beach 656 units: One 42-story tower, one 37-story tower and two 8-story podiums Developer: Tishman Speyer (China Vanke – equity partner) Architect: Bernardo Fort-Brescia of Arquitectonica Date on market: September 2014 First closings anticipated: Q3 2015 Status: 220 units in-contract, Approximate absorption: 40 units/ month Amenities: 10,500 SqFt rooftop with vegetable garden/dining/fire pits/movie screening, 7,000 SqFt fitness center with yoga studio/ aerobics room/20-foot climbing wall, lounge with fireplace/bar, private dining room with chef’s kitchen/prep kitchen/fireplace/out- door terrace, screening room with tiered seating for thirty/surround sound, 75-foot lap pool, library with WIFI, 2,000 SqFt spa with treatment room/day lockers/steam room/sauna, children’s room, music practice room, pet grooming station, on-site gourmet grocer Features & Finishes: 9’ to 10’10” ceilings, Bay views, Gaggenau ovens/cooktops, Bosch refrigerators/dishwashers, Caesarstone quartz countertops/backsplashes, SieMatic cabinetry, marble van- ity counter tops, porcelain tile bathroom floors/shower walls, Nest Thermostats Unit Mix & Pricing Summary (Currently Selling) Number of Unit Type Units Size Range Price Range Studio/Jr. 1-Bedroom 16 650 - 870 SqFt $850K - $950K 1 - Bedroom 200 850 - 1,400 SqFt $1.1M - $1.7M 2 - Bedroom 373 1,180 - 1,600 SqFt $1.5M - $3.5M 3 - Bedroom 67 1,700 - 2,650 SqFt $3.2M - $6M PG.4 SAN FRANCISCO CONDOMINIUMS MARKET ACTIVITY MARCH 2015 DEVELOPMENT SNAPSHOT Currently Selling 16th & BRYANT 2421-2425 16th Street at Bryant | Mission Status: 10 in-contract, 0 closed, 12 units total Date on market: January 2015 Project info: 4-stories, 1 BMR, 12 parking spaces, HOA: $490 - $650 Finishes: Living areas with white oak hardwood floors, Patios with Eleganza quartzite pavers, Kitchens with Liebherr HCB 30 inch fully integrated refrigerator & freezer, Bertazzoni Master Series 30-inch 4-burner gas range Unit Mix & Pricing Summary (Currently Selling) Number of Unit Type Units Size Range Price Range 2 - Bedroom 10 1,021-1,228 SqFt $999,000 - $1,299,000 3 - Bedroom 2 1,890-1,900 SqFt $1,325,000 - $1,425,000 MISSION@1875 1875 Mission Street at 15th | Mission Status: 18 in-contract, 7 closed, 39 units total, Average $/SqFt: $1,055 Date on market: October 2014 First closings: February 2015 Developer: M1875 LLC Project info: 4-stories, 6 BMRs, 24 parking spaces, HOA $400- $520 Amenities: Rooftop pool, dog run Finishes: Ann Sacks/Porcelanosa tile, hardwood floors, frosted glass walls, Blanco faucets, Bertazzoni microwaves/ranges, Leibherr refrigerators, brass entry doors, Heath Ceramics house numbers, radiant heated floors Closing Details Unit Type SqFt Parking Closing Price $/SqFt Closing Date Mission@1875 - 108 0/1 620 0 $589,000 $950 2/27/2015 Mission@1875 - 206 0/1 626 0 $619,000 $989 2/27/2015 Mission@1875 - 211 1/1 799 1 $775,000 $970 2/27/2015 Mission@1875 - 212 2/1 804 1 $867,000 $1,078 2/27/2015 Mission@1875 - 309 1/1 804 1 $899,000 $1,118 2/27/2015 Mission@1875 - 306 0/1 620 0 $650,000 $1,048 2/25/2015 Mission@1875 - 304 1/1 751 1 $901,200 $1,200 2/20/2015 PG.5 SAN FRANCISCO CONDOMINIUMS MARKET ACTIVITY MARCH 2015 DEVELOPMENT SNAPSHOT Currently Selling SUMMIT 800 800 Brotherhood Way at Junipero Serra | Park Merced Status: 40 in-contract, 0 closed, 182 total units, Approximate absorption: 5 units/month Developer: Comstock Homes & Maracor Development Project info: Townhomes and single family homes, 2-3 car parking, HOA: $205 - $760 Date on market: July 2014 Amenities: HOA maintained front yard landscaping, adjacent to two- acre park with tot lot/dog area Features and Finishes: Decks, walk-in closets, Copper Creek polished chrome door hardware, Emser ceramic tile floors, Crema Marfil master bath floors, Superior Shaw stain-resistant carpet, Andersen windows and sliding doors, granite kitchen countertops and backsplash, Viking appliances, Kohler sinks and tubs, Delta faucets, powder rooms in each floor plan, Piedrafina bathroom countertops and surrounds, 1 .5 KW solar system, tank-less water heaters Unit Mix & Pricing Summary (Currently Selling) Number of Unit Type Units Size Range Price Range 3 - Bedroom 182 1,547 - 2,133 SqFt $979K - 1.675M TOWNHOMES ON THIRD 4132 3rd Street at Innes | Bayview Status: 6 in-contract, 0 closed, 7 total units Date on market: January 2015 First closings: February 2015 Developer: Seiko Construction, Inc . Architect: Alan Martinez Project info: 4-stories, 7 parking spaces, HOA: $640 - $700 Finishes: Quartz counter tops, Glass tile backsplash, Blanco and Hans- grohe fixtures, Wide-plank hardwood floors, Security systems Unit Mix & Pricing Summary (Currently Selling) Number of Unit Type Units Size Range Price Range 2 - Bedroom 3 1,314 - 1,432 SqFt $915K - $925K 3 - Bedroom 4 1,391 SqFt $899K - $935K PG.6 SAN FRANCISCO CONDOMINIUMS MARKET ACTIVITY MARCH 2015 DEVELOPMENT SNAPSHOT Currently Selling VIDA 2558 Mission Street at 22nd | Mission Status: 61 in-contract, 43 closed, 114 total units, Approximate absorption: 10 units/month, Average $/SqFt: $1,093 Date on market: March 2014 First closings: January 2015 Developer: Oyster Development Architect: Kwan Hemni Project info: 8-stories, off-site BMRs, 77 parking spaces, HOA: $430 - $620 Amenities: Roof terrace with BBQ, lounge area Finishes: Bosch and Bertazzoni appliances, quartz counter tops, exposed concrete ceilings and columns, porcelain tile bathroom floors Closing Details Unit Type SqFt Parking Closing Price $/SqFt Closing Date Vida - 402 1/1 816 1 $799,000 $979 2/17/2015 Vida - 315 0/1 494 0 $579,000 $1,172 1/30/2015 Vida - 307 2/2 916 1 $917,000 $1,001
Load more

Recommended publications
  • SAN FRANCISCO 2Nd Quarter 2014 Office Market Report
    SAN FRANCISCO 2nd Quarter 2014 Office Market Report Historical Asking Rental Rates (Direct, FSG) SF MARKET OVERVIEW $60.00 $57.00 $55.00 $53.50 $52.50 $53.00 $52.00 $50.50 $52.00 Prepared by Kathryn Driver, Market Researcher $49.00 $49.00 $50.00 $50.00 $47.50 $48.50 $48.50 $47.00 $46.00 $44.50 $43.00 Approaching the second half of 2014, the job market in San Francisco is $40.00 continuing to grow. With over 465,000 city residents employed, the San $30.00 Francisco unemployment rate dropped to 4.4%, the lowest the county has witnessed since 2008 and the third-lowest in California. The two counties with $20.00 lower unemployment rates are neighboring San Mateo and Marin counties, $10.00 a mark of the success of the region. The technology sector has been and continues to be a large contributor to this success, accounting for 30% of job $0.00 growth since 2010 and accounting for over 1.5 million sf of leased office space Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2012 2012 2012 2013 2013 2013 2013 2014 2014 this quarter. Class A Class B Pre-leasing large blocks of space remains a prime option for large tech Historical Vacancy Rates companies looking to grow within the city. Three of the top 5 deals involved 16.0% pre-leasing, including Salesforce who took over half of the Transbay Tower 14.0% (delivering Q1 2017) with a 713,727 sf lease. Other pre-leases included two 12.0% full buildings: LinkedIn signed a deal for all 450,000 sf at 222 2nd Street as well 10.0% as Splunk, who grabbed all 182,000 sf at 270 Brannan Street.
    [Show full text]
  • Residential Development Pipeline
    36 SAN FRANCISCO BUSINESS TIMES JUNE 26, 2015 37 SAN FRANCISCO STRUCTURES SPECIAL REPORT Columbus Ave. The Embarcadero 52 SPONSORED BY Broadway Pacific Ave. Kearny St. PLANNED Stockton St. RESIDENTIAL Jackson St. Powell St. Montgomery St. SAN FRANCISCO Polk St. 80 Project name, address Developer Done Units Sale/ Market/ Sacramento St. rental affordable NP 1654 Sunnydale Ave. Mercy Housing California, Related Cos. 2018+ 1,700 both both 34 40 78 106 DEVELOPMENT 14 Pine St. 77 Potrero Terrace, 1095 Connecticut St. Bridge Housing Corp. 2018 1,400- both both California St. Bush St. 60 7 85 71 58 Sutter St. Spear St. 1,700 79 8 1 Main St. Mission Rock, Seawall Lot 227 and SWL 337 Associates LLC (S.F. Giants) 2017+ 1,500 TBD both Gough St. 112 35 80 5 Beale St. 72 Laguna St. 113 Webster St. Pier 48 38 Fremont St. Steiner St. Geary Blvd. 90 33 Pier 70 residential Forest City 2029 1,000- both both Divisadero St. 55 48 73 KEY 95 118 107 10 2,000 PIPELINE 2nd St. NP: Not placed; outside map area 96 Market St. 103 Van Ness Ave. 64 Ellis St. 62 61 74 700 Innes St. Build Inc. 2020 980 rent market Market: A majority of units are market rate, 29 94 1st St. Residential projects in 75 10 S. Van Ness Ave. Crescent Heights 2018+ 767 TBD market though almost all projects include some affordable Geary Blvd. Mission St. 97 San Francisco of 60 units units to comply with city regulations Turk St. 102 76 5M at Fifth and Mission Streets Forest City / Hearst Corp.
    [Show full text]
  • Sports and Concert Facilities / Special Events Golden State Warriors Event Center and Mixed-Use Development SEIR, San Francisco, CA
    EDUCATION Mr. Mitchell has provided project management and technical analysis capabilities for a wide variety of projects requiring environmental review, B.S., Civil Engineering, San including transportation and transit, industrial, institutional, commercial, Francisco State residential, mixed-use, educational and recreational projects. He has served University as project director / project manager for a number of CEQA environmental 23 YEARS documents, including environmental review for sports facilities and sporting EXPERIENCE events, capital improvement projects, wineries and vineyards, quarries, university and local school district master plans, specific plans, planned use developments, transit service plans, multi-modal stations, and demolition projects. Mr. Mitchell’s technical analysis responsibilities include required CEQA/NEPA analysis of transportation, air quality, noise, land use and policies, and infrastructure issues. Sports and Concert Facilities / Special Events Golden State Warriors Event Center and Mixed-Use Development SEIR, San Francisco, CA. Project Manager. Paul recently managed a Subsequent EIR for a landmark $1 billion, privately funded development within the thriving Mission Bay neighborhood in San Francisco. The centerpiece is an 18,000-plus–seat event center that will be the new home of the Golden State Warriors basketball team, during the NBA season, and provide a year-round venue for a variety of other uses, including concerts, family shows, other sporting events, cultural events, conferences and conventions. Office, retail, and open space uses and structured parking are also proposed. A Subsequent EIR (SEIR) was prepared for the project, tiering from the 1998 Mission Bay Final SEIR. The project was processed under CEQA streamlining legislation of both AB 900 (“environmental leadership project”) and SB 743.
    [Show full text]
  • The Bay Area-Silicon Valley and Australia an Expanding Trans-Pacific Partnership
    The Bay Area-Silicon Valley and Australia An Expanding Trans-Pacific Partnership December 2020 Acknowledgments This report was developed in partnership with the Odette Hampton, Trade and Investment Commissioner American Chamber of Commerce in Australia, with and Deputy Consul General, Australian Trade and support from Cisco, Google, Lendlease, Salesforce, Investment Commission (Austrade) Telstra, University of Technology Sydney, and Wipro. Joe Hockey, Founding Partner and President, Bondi Development of the project was led by Sean Randolph, Partners, Australian Ambassador to the US, 2016–2020 Senior Director at the Bay Area Council Economic Institute. Neils Erich, a consultant to the Institute, Vikas Jain, Asia-Pacific Business Head for Engineering, was co-author. The Institute wishes to thank April Construction and Mining, Wipro Palmerlee, Chief Executive Officer of the American Claire Johnston, Managing Director, Google Chamber of Commerce in Australia, for her support Development Ventures, Lendlease throughout this effort and the following individuals for Joe Kaesshaefer, Trade and Investment Commissioner– their valuable input: USA, Department of Industry, New South Wales Jeff Bleich, Chief Legal Officer, Cruise, US Ambassador Michael Kapel, Trade and Investment Commissioner to to Australia 2009–2013 the Americas in San Francisco, Government of Victoria Michael Blumenstein, Associate Dean, Research Damian Kassabgi, Executive Vice President, Public Strategy and Management, Faculty of Engineering Policy and Communications, Afterpay and
    [Show full text]
  • Transbay Joint Powers Authority
    NEW ISSUE – Book-Entry Only RATINGS: See “RATINGS” In the opinion of Bond Counsel, under existing law and assuming compliance with the tax covenants described herein, and the accuracy of certain representations and certifications made by the Authority, interest on the 2020 Tax-Exempt Bonds is excluded from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”). Bond Counsel is also of the opinion that interest on the 2020 Tax-Exempt Bonds is not treated as a preference item in calculating the alternative minimum tax imposed under the Code. Interest on the Senior 2020A-T Bonds is not excluded from gross income for federal income tax purposes. Bond Counsel is further of the opinion that interest on the 2020 Bonds is exempt from personal income taxes of the State of California (the “State”) under present State law. See “2020 TAX-EXEMPT BONDS TAX MATTERS” and “SENIOR 2020A-T BONDS TAX MATTERS” in this Official Statement regarding certain other tax considerations. TRANSBAY JOINT POWERS AUTHORITY $189,480,000 $28,355,000 Senior Tax Allocation Bonds Senior Tax Allocation Bonds Series 2020A (Tax-Exempt) (Green Bonds) Series 2020A-T (Federally Taxable) (Green Bonds) $53,370,000 Subordinate Tax Allocation Bonds Series 2020B (Tax-Exempt) (Green Bonds) Dated: Date of Delivery Due: October 1, as shown on inside cover Bonds. The Transbay Joint Powers Authority (the “Authority”) is issuing the above-captioned bonds (the “Senior 2020A Bonds,” the “Senior 2020A-T Bonds,” and the “Subordinate 2020B Bonds” and, collectively, the “2020 Bonds”).
    [Show full text]
  • June 2016 San Francisco Residential Development
    SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 NAVIGATION Click page numbers to be taken directly to page NEWS & MARKET CURRENTLY HIGHLIGHTS PERFORMANCE SELLING NEWS AND HIGHLIGHTS MARKET PERFORMANCE CURRENTLY SELLING Median $/SqFt Currently Year-Over-Year Month-Over-Month CURRENTLY SELLING... Luxe New Condominiump. $1,218/SqFt + 15% p. + 2% p. Nearly half of second phase is under contract. Price per square foot3 is 4 1650 Broadway at Van5 Ness | Pacific Heights Shipyard’s Resale Condominium $1,042/SqFt + 11% + 2% averaging approximately $760. The first phase averaged approximately $660 per Status: 34 units available/0 in-contract/0 closed square foot. New Apartment $5.10/SqFt + 7% N/A Pre-sale: August 2015 Closings anticipated: Q1 2016 Less than 100 units remain available at The Rockwell. Current absorption surpasses Project info: 34 units, 7-stories, 34 parking spaces 30 units a month. NEW CONDOMINIUM PRICING & VOLUME Developer: Belrich Partners Sales are expected to commence this month at the second phase of Onyx , consisting Architect: Forum Design of 21 condominiums. Median Price & Closing Volume Interior Design: Edmonds + Lee Features & Finishes: Marble tile and zinc facade, Floor- Closings have commenced at Lumina’s Plaza A. Price per square$1,200,000 foot is averaging 180 approximately $1,500. to-ceiling windows, Bay and Golden Gate views, Studio 160 Click development to be taken directly to page $1,000,000 Becker Cabinetry, Mobile kitchen islands, Caesarstone 140 Most Recent Quarter countertops, Subzero refrigerators, Thermador ap- $800,000ONE FRANKLIN 181 FREMONT ONE120 MISSION BAY THE HARRISONpliances, Uline THE wine coolers, PACIFIC Duravit and Hansgrohe 100 Median: $1,000,000 PROPOSED..
    [Show full text]
  • Experience Record As of 12.31.19
    EXPERIENCE RECORD AS OF 12.31.19 EXPERIENCE RECORD AS OF 12-31-19 (updated semi-annually) 165 PROJECTS IN DESIGN OR UNDER CONSTRUCTION SQUARE FEET Office 21,187,413 Living/Housing 24,432,720 Industrial/Logistics 12,088,486 Retail 2,389,141 Other 1,860,592 Total SF 61,958,352 886 COMPLETED DEVELOPMENT PROJECTS Office 152,078,268 Industrial/Logistics 41,910,950 Living/Housing 30,373,890 Retail 12,748,428 Hospitality 8,147,007 Sports Facilities 3,790,107 Medical/Biotechnological 3,472,366 Arts & Cultural 2,041,130 Educational 946,952 Other 3,057,553 Total SF 258,566,651 507 ACQUISITIONS Office 144,464,501 Industrial/Logistics 37,032,278 Retail 13,118,427 Living/Housing 3,325,174 Other 2,534,460 Total SF 200,474,840 539 PROPERTY/ASSET MANAGEMENT ASSIGNMENTS Hines Investment Management, 218 projects 98,100,000 Property-Level Services, 321 projects 134,300,000 Total SF 232,400,000 205 CURRENT HINES LOCATIONS (exclusive of facility management locations) U.S. Cities 106 Cities Outside of the United States 99 Cities with Facilities Mgmt. Assignments Only 454 Global Presence (Number of Cities) 659 Projects In Design and Under Construction Office 9 STEWART STREET 36-52 WELLINGTON 92 AVENUE OF THE AMERICAS Melbourne, Victoria, Australia Melbourne, Victoria, Australia New York, NY 55,208 sq. ft. office building 22,819 sq. ft. site planned for a heavy timber A development management project 10 stories creative office building 24,181 sq. ft. office building 14 stories 100 MILL 415 20TH STREET 561 GREENWICH Tempe, AZ Oakland, CA New York, NY 279,531 sq.
    [Show full text]
  • Issues Are Being Reported Throughout All of San Francisco and     What the City Is Doing to Resolve Them
    NO. 160 PUBLISHED BY THE CENTRAL CITY A telling tale SAN FRANCISCO STUDY CENTER October of challenges 2 015 for housing 4,400 in The City UNITS IN 1400 Mission began as 25 YEARS low-income, but city made san francisco it plum for a smart builder Affordable housing built UNK S ENDERLOIN OOTS BY M ARJORIE BEGGS P ‘ T R since 1989 T WAS A SWEET BIT of chronologi- cal serendipity: In August, the city an- PAGE 3 I nounced the moderate-income lottery winners who were eligible to buy 167 condos at the new, glass-clad 1400 Mission complex at the corner of 10th Street. Two miles east, at Folsom and Main streets, the first owners began moving into Lumina, 656 super-luxe condos. The connection between the two is direct, the timing’s not coincidental, the backstory convoluted — and telling. Tishman Speyer built 1400 Mission for $65 million and Lumina for $620 million. One is inclusionary affordable housing, the other, by dint of price, exclusionary. With the exception of 23 rental apartments at 1400 Mission, all 823 condos are for sale. How much Tishman will profit from Lumina will probably be known only to Tishman Speyer. At 1400 Mission, the city 2 WHO has posted estimated sales totals for the WERE The city credited Tishman 167 condos at just nearly $50 million for under $50 million. So MOURNED meeting its inclusionary it may be fair to ask if Deosia Henderson, requirement. the big developer has used an affordable Stevie L. Newsom housing project to en- able its lucrative investment in the Lumina.
    [Show full text]
  • August 2015 San Francisco Residential
    SAN FRANCISCO RESIDENTIAL DEVELOPMENT AUGUST 2015 REPORT CONTENTS click page numbers to be taken directly to page STATE OF DEVELOPMENT MARKET PERFORMANCE CURRENTLY SELLING Median $/SqFt Currently Year-Over-Year Month-Over-Month Mission Rock is San Francisco’s newest Luxe planned community to hit center stage. In New Condominium $1,196/SqFt 18% 1% November, San Francisco voters will de- Resale Condominium $1,021/SqFt 13% 0% 1650 Broadway at Van Ness | Pacific Heights cide the fate of an Initiative which calls for Status: 34 units available/0 in-contract/0 closed New Apartment $5.10/SqFt 7% n/a increasing allowable building heights up to Pre-sale: August 2015 Closings anticipated: Q1 2016 240 feet at the Development Site, locat- Project info: 34 units, 7-stories, 34 parking spaces ed just South of AT&T Park. In 2014, Voters NEW CONDOMINIUM PRICING & VOLUME passed Proposition B, requiring voter ap- Developer: Belrich Partners proval of height increases along Waterfront Architect: Forum Design Median Price & Closing Volume land owned by the Port. The November Interior Design: Edmonds + Lee Initiative proposes heights between 90 and $1,200,000 180 Features & Finishes: Marble tile and zinc facade, Floor- 160 240 feet, stepping down heights closer to $1,000,000 to-ceiling windows, Bay and Golden Gate views, Studio the Waterfront. Part of the Site currently 140 Most Recent Quarter Becker Cabinetry, Mobile kitchen islands, Caesarstone serves as the Giants’ parking lot, while the $800,000 120 countertops, Subzero refrigerators, Thermador ap- 100 Median: $1,000,000 $600,000 pliances, Uline wine coolers, Duravit and Hansgrohe rest consists of historic Piers in need of 80 fixtures, Victoria + Albert limestone soaking tubs, restoration.
    [Show full text]
  • 25 Years: Downtown Plan Monitoring Report, 1985-2009 03
    YEARS DOWNTOWN PLAN MONITORING REPORT 1 9 8 5 - 2 0 0 9 SAN FRANCISCO PLANNING DEPARTMENT JUNE 2011 © 2011 San Francisco Planning Department 1650 Mission Street, Suite 400 San Francisco, CA 94103-3114 www.sfplanning.org 25 YEARS: DOWNTOWN PLAN MONITORING REPORT 1985-2009 San Francisco Planning Department June 2011 Table of Contents EXECUTIVE SUMMARY 01 25 Years: Downtown Plan 01 Economic Change and Unexpected Trends 02 Regional Context and What Lies Ahead 02 25 YEARS: DOWNTOWN PLAN MONITORING REPORT, 1985-2009 03 Report Organization 03 PART I: THE DOWNTOWN PLAN: GOALS ACHIEVED 05 Introduction 05 Space for Commerce 08 New Commercial Construction Downtown 08 Downtown Commercial Space Today 10 Space for Housing 12 New Housing Downtown 12 Jobs Housing Linkage Program (JHLP) 14 Protecting Existing Housing Downtown 16 Downtown Housing Today 17 Open Space 18 Downtown Open Space Today 20 Historic Preservation 21 Downtown Historic Preservation Today 21 Urban Form 23 Downtown Urban Form Today 24 Moving About – Transportation 25 Downtown Transportation Today 26 PART II: ECONOMIC CHANGE AND REGIONAL GROWTH SINCE 1985 27 San Francisco Employment Change – from Office to Other Activities 28 Sole Proprietors – Shift from Large to Smaller Employers 28 Downtown Area Employment – A Change in Location 33 Downtown C-3 Zone Employment Change 33 Downtown San Francisco in a Regional Context: What Lies Ahead? 34 San Francisco and the Region 34 The Downtown Plan Today and Tomorrow 35 APPENDICES Appendix A: Downtown Plan Objectives 37 Appendix B: Table 1: New Office
    [Show full text]
  • Baseline Budget for Phase 1 of the Transbay Transit Center Program (Program) in the Amount of $1,189,000,000 in Year of Expenditure (YOE) Dollars
    THIS STAFF REPORT COVERS CALENDAR ITEM NO.: 7 FOR THE MEETING OF: November 16, 2007 TRANSBAY JOINT POWERS AUTHORITY BRIEF DESCRIPTION: Recommendation of a Baseline Budget for Phase 1 of the Transbay Transit Center Program (Program) in the amount of $1,189,000,000 in year of expenditure (YOE) dollars. SUMMARY: A preliminary Phase 1 cost estimate totaling $983 million was developed in January 2006 and presented to the Board in March 2006. This preliminary estimate was prepared using conceptual designs and FTA-mandated minimum levels of contingencies, as well as initial estimates of escalation and program-wide costs such as design and construction management. Since the Phase 1 preliminary cost estimate was presented to the Board in March 2006, considerable work has been completed to identify the most probable final cost of Phase 1 as the basis for the recommended Baseline Budget. The estimate was recalculated to account for the escalation that occurred during 2006, and an industry review was conducted to assess the most probable ongoing annual levels of escalation to the end of construction. In addition, adjustments were made to the Phase 1 preliminary cost estimate to account for further scope development, development of intended contracting strategies, and reallocation of some costs from Phase 2. Accordingly, this report provides an update to the components included in the prior estimate and recommends the adoption of a Baseline Budget for Phase 1 of $1,189,000,000 (YOE). Once adopted, this Baseline Budget will be the benchmark against which cost performance will be measured. Staff and consultants have developed a draft funding plan for the Baseline Budget.
    [Show full text]
  • 50 Years of Spur 100 Years of Building a Better City
    Issue 482 Agents of Change p5 Summer programming p26 Ironies of history p32 Planning in pieces p35 City of plans p45 Your turn! The San Francisco Planning and Urban Research Association is 6|7.09 a member-supported nonprofit organization. Our mission is to promote good planning and good government through research, education and advocacy. Write to us at [email protected] SPUR Urbanist AGENTS OF CHANGE: AGENTS Published monthly by San Francisco SPUR Staff Events Manager Volunteer and Planning & Urban Kelly Hardesty x120 Intern Team Leader Research Association Still time to get SPUR main number [email protected] Jordan Salinger x136 415.781.8726 [email protected] on the boat! Deputy Director Membership Manager Sarah Karlinsky x129 Development Vickie Bell x121 [email protected] Associate [email protected] Rachel Seltzer x116 Public Engagement [email protected] 11th Annual Bay Accountant Director Terri Chang x128 Julie Kim x112 Transportation THE CITY BUILDERS Discovery Cruise [email protected] [email protected] Policy Director Dave Snyder x135 Citizen Planning Development Director [email protected] C M onday June 8, 2009 Institute Director Amie Latterman x115 IVI THE PROGRESSIVES & CLASSICISTS Jim Chappell x125 [email protected] Capital Campaign C [email protected] Manager ID Event Assistant Sarah Sykes x123 Join us for dinner, dancing Publications Assistant Nikki Lazarus x119 [email protected] EA Mary Davis x126 [email protected] and to see the latest in [email protected] Sustainable Develop- LI Administrative Director ment Policy Director S 50 Bay Bridge construction! Urban Center Director Lawrence Li x134 Laura Tam x137 M Diane Filippi x110 [email protected] [email protected] THE REGIONALISTS AN YEARS [email protected] Executive Director Regional Planning Go to spur.org/baycruise for D Executive Assistant/ Gabriel Metcalf x113 Director OF SPUR tickets and information.
    [Show full text]