April 2016 San Francisco Residential Development

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April 2016 San Francisco Residential Development SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 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- $800,000 120 pliances, Uline wine coolers, Duravit and Hansgrohe ONE MISSION BAY THE HARRISON100 THEMedian: $1,000,000PACIFIC 388 FULTON 450 HAYES PROPOSED... $600,000 fixtures, Victoria + Albert limestone soaking tubs, 80 Frameless glass showers; Penthouses only: Gas fire- 131 Group Housing untis have been proposed for 1798 Bryant THEStreet$400,000 at DISTRICT 17th. The 7-story 1001 17TH LUMINA60 ROCKWELLUnits Closed: LUXE 52 FULTON places,555 Walk-in 72 pantriesTOWNSEND and closets, Calacatta marble, project will offer a shared kitchen as amenity space. 40 Number Closed Custom millwork Median Sale Price $200,000 SHIPYARD II SUMMIT20 800Units Available: 6 MINT 758* 400 GROVE 36 Group Housing units have been proposed for 45 Dore Street in Western SOMA. The Amenities: Lounge, Two-story lobby project has not proposed any car parking, and will include a communal$0 living space. 0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Website: Luxe-SF.com A six-story building has been proposed for 1075 Folsom Street at 7th. The project consistsMedian Sale of Price # Closings 34 units, 15 car spaces and 40 bicycle spaces. Panoramic Interests has proposed two five-story buildings at 333 12th Street at Folsom. 182 * As of September 2015; Restricted units have been proposed, along with 182 bicycle spacesRESALE andSOLD-OUT no carCONDOMINIUM parking. PRICING & & VOLUME UPCOMINGby phased marketing releases PIPELINE 77 units have been proposed for 552 Brannan Street at 4th. The Project proposes 34 car spaces and 80 bicycle spaces. RESALEMedian Price & Closing Volume DEVELOPMENTS SUMMARY 700 $1,150,000 600 CLICK TO RETURN TO THE $1,100,000NAVIGATION PAGE CLICK TO RETURN TO THE NAVIGATION PAGE CITY PLANNING... AFFORDABLE HOUSING BONUS PROGRAM Most Recent Quarter 500 PIPELINE$1,050,000 SUMMARY What is the Affordable Housing Bonus Program (AHBP)?400 This new City Program aims to increase Median: $1,111,250 the supply of affordable housing, by increasing allowable residential density and height limits. $1,000,000 300 Developers who provide 30 percent (or greater) affordable units will be relieved Approved,$950,000 UnderUnits Review Closed: and 560 Conceptual How does it work? 200 Sales of density limits, and be allowed to build two additional residential stories.MISSION@1875p. The affordable units Development p. Area Developer / Owner ApprovedArea Units Underp.Commence Review Conceptual would be broken down into two categories: 100 26 $900,000 Months39 Supply Inventory: 1 41 0 1875 Mission Street at 15th | Mission2655 Bush Street at Divisadero$850,000Bayview/Hunters Point/CandlestickKB Home Point Lower Pac12,771 Heights 81 Q4499 2015 3,780 12% low income (55% of area median income for rental; 90% for ownership) Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Status: Average $/SqFt: $1,055 1001 17th Street at PennsylvaniaDogpatch 1001 17th Street Associates Potrero2,360 Hill 26 Q4907 2015 0 18% moderate income (120% of area median income for rental; 140% forDate ownership) on market: Number October Closed 2014 Median Sale Price UNIT MIX 1868 Van Ness Avenue at SacramentoHayes Valley N/A Van Ness Corridor116 35 Q4170 2015 24 The development would also be required to offer at least 40 percent Developer:two-bedroom M1875 units. LLC Mid-Market Number of 32 2,590 0 Developments which contain 100 percent affordable units would be offeredProject info: the 39same units, relief 4-stories, from 6 BMRs,450 Hayes 24 parking Street at spaces, Gough Monthly Unit Type DDG/DMUnits Hayes ValleySize Range41 Q4 2015 density limits, and up to three additional residential stories. HOA fee: $400 - $520 Mission 141 1,559 134 NEW APARTMENT PRICING & OCCUPANCYPacific - 2155 Webster Street at Sacramento1 - Bedroom Trumark Urban9 Pacific Heights902 - 918 SqFt76 Q1/Q2 2016 There is also an alternate State mandated Bonus Program, which allowsAmenities: for greater Rooftop density pool, and dog run Mission2 - BayBedroom 11 5201,112 - 1,697 SqFt 1,500 0 1450 Franklin Street at Bush Village Properties Western Addition 67 Q1 2016 heights on a graduated basis, depending on the number and type of BMRFinishes: units Ann provided. Sacks/Porcelanosa tile, hardwood floors, Blanco Average Price & Occupancy Northern3 - Bedroom Neighborhoods 14 1,607132 - 2,014 SqFt 1,663 0 faucets, Bertazzoni microwaves/ranges,One Rincon Leibherr Hill refrigerators,II - 401 Harrison brass Street Rockpoint/Maximus Rincon Hill 298 Q1 2016 Where does it apply? The Program applies to residential mixed-use$4,000 districts. The programClick development does not to be taken directly95.0% to page apply for RH-1 or RH-2 (one- and two-family house) zoning districts, whichentry doors,account Heath for Ceramicsover 70% house of numbers, radiant heated floorsPotrero Hill 131 1,019 323 $3,900 3420 18th Street at San Carlos N/A Mission 16 Q1 2016 the City. $3,800 Website: M1875.com SAPPHIRE94.0%South ONYX of Market ARDEN INFINITY 1,560 5,037 1,188 $3,700 1050 Valencia Street at Hill 93.0% N/A Mission 12 Q1 2016 What are next steps? The City aims to have Program legislation$3,600 enacted by year’s end. For full Southern NeighborhoodsMost Recent Quarter 1,704 1,201 334 program details, visit SF-Planning.org. $3,500 388 Fulton Street at Franklin92.0% 7x7 Development Hayes Valley 61 Q1 2016 CLOSING DETAILS Transbay 949 784 0 $3,400 MADRONE MILLENNIUM91.0% TOWERAverage: ONE $3,875 RINCON HILL SHIPYARD I $3,300 Rowan - 346 Potrero Avenue at 16th Trumark Urban Potrero Hill 70 Q1 2016 Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date90.0%TreasureOccupancy Island 8,619 0 0 Average Price Average $3,200 Occupancy: 91% 580 Hayes Street at Laguna Laguna Hayes LLC Hayes Valley 29 Q1 2016 109 2/2 1,272 $3,100 $560 1 $1,200,000 $943 8/28/201589.0%Upper Market 24 222 0 $3,000 410 2/1 779 $420 1 $945,000 $1,213 8/3/2015 PG.3 SAN FRANCISCO RESIDENTIAL DEVELOPMENT SEPTEMBER 2015 $2,900 One Mission Bay - 1000 Channel88.0%Van Street Ness at Corridor 3rd CIM Group Mission 0Bay 350 Q11,485 2016 0 404 2/1 750 $412Q1 2014 Q2 20141 Q3 2014$935,000Q4 2014 $1,247Q1 2015 Q27/28/2015 2015 1 Franklin Street at Market Western Neighborhoods JS Sullivan Hayes9,007 REPORTValley 35 Q2574 2016 NOTES750 311 1/1 777PROJECTED$419 0 Average Price$729,000 Occupancy$938 6/23/2015ABOUT & 181 Fremont Street at HowardPG.5 SAN FRANCISCO RESIDENTIAL DEVELOPMENTJay Paul Company AUGUST 2015 Transbay 67 Q2 2016 310 1/1 779 $419 0 $739,000 $949 6/5/2015 Total While38,066 the Report19,210 focuses on condo6,533- miniums, select information on apart- 411 2/1 778 SUPPLY$420 1 $950,000 832 Sutter$1,221 Street at6/5/2015 JonesDISCLAIMERN/A Lower Nob Hill 20 Q2 2016 308 0/1 623 $376 0 $675,000 $1,083 5/14/2015 ments has been presented as well. The Knox - 645 Texas StreetUnder at 22nd Construction (by Trumarkproduct Urban type) Potrero Hill 91 Q3 2016 208 0/1 PG.4 SAN626 FRANCISCO RESIDENTIAL$363 DEVELOPMENT0 SEPTEMBER$625,000 2015 $998 5/11/2015 most recent available data has been Tower at Nob Hill - 1545 Pine Street at Van Ness AreaPacific Eagle Holdings CondominiumsNob Hill 103 ApartmentsQ3 2016 All 312 2/1 805 $410 1 $910,000 $1,130 4/24/2015 used, with data from March 2015/2016 Dogpatch used0 for comparisons259 and statistics.259 210 1/1 779 $420 1 $780,000 5800$1,001 Third Street 4/23/2015- Phase II Holliday Development BayviewBelow Market136 RateQ4 2016 (BMR) and senior 412 2/1 801 $426 1 $980,000 $1,223 4/22/2015 Hayes Valley 166 280 446 1450 15th Street at Shotwell 10 South Shore LLC Missionhousing units23 haveQ4 2016 been omitted from 204 1/1 752 $451 1 $740,000 $984 4/21/2015 Mid-Market 0 143 143 690 Page Street at Steiner Page Steiner Associates Lowerclosings Haight and12 statisticsQ4 2016 where possible. 203 1/1 754 $421 1 $754,000 $1,000 4/17/2015 Mission Note12 that it can take0 a few months12 be- 209 1/1 800 $426p.
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