00 12181.04 Concord Group Pipeline Report 3Q14 7.29.2014
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251 KEARNY STREET, SIXTH FLOOR SAN FRANCISCO, CALIFORNIA 94108 PHONE 415.397.5490 FAX 415.397.5496 369 SAN MIGUEL DRIVE, SUITE 265 NEWPORT BEACH, CALIFORNIA 92660 PHONE 949.717.6450 FAX 949.717.6444 641 LEXINGTON AVE, SUITE 1400 NEW YORK, NY 10022 PHONE 646.354.7090 EXT. 22 SAN FRANCISCO BAY AREA FINAL REPORT PREPARED FOR: PIPELINE REPORT 3Q 2014 JULY 2014 THE CONCORD GROUP SAN FRANCISCO BAY AREA PIPELINE REPORT JULY 2014 Data Summary by Submarket Urban East Bay San Francisco San Jose Market Units BMR Units Market Units BMR Units Market Units BMR Units For-Sale Rental Other (1) For-Sale Rental Other (1) For-Sale Rental Other (1) For-Sale Rental Other (1) For-Sale Rental Other (1) For-Sale Rental Other (1) Conceptual 0 450 7,359 0 0 169 61 79 4,961 0 90 85 247 550 900 0 0 0 Preliminary Review 1,375 842 0 0 86 0 0 190 0 0 97 0 579 156 0 48 0 0 Application Under Review 520 4,924 2,281 0 743 56 1,284 2,837 5,208 47 494 1,517 3,137 371 1,528 16 125 0 Partially Entitled14702370005,97378413,9812,340454,3523890001020 Fully Entitled 434 2,299 296 38 402 0 1,404 2,148 26 129 963 3 890 4,837 746 0 749 0 Pulling Permits 292 379 0 0 33 0 41 291 0 0 9 0 0 284 0 0 64 0 Under Construction 257 3,633 254 0 1,087 24 2,294 4,745 0 426 1,264 0 606 4,965 371 0 370 0 Stalled 468 57 0 0 177 0 355 0 49 0 106 7 0 0 0 0 0 0 Inactive 6352,2221233202812521,124245530086069001350 Pre-Leasing/Pre-Selling 0 92 142 0 0 25 564 1,081 0 9 151 0 1,368 954 0 0 90 0 Completed 0 9400002041,345207309001,143003830 Total: 4,128 14,992 10,692 41 2,530 274 12,461 13,752 25,369 2,960 3,983 6,264 8,076 13,329 3,545 64 2,018 0 Includes long-term development projects such as Treasure Island, Hunters Point, and ParkMerced. Remainder East Bay Peninsula Remainder South Bay Market Units BMR Units Market Units BMR Units Market Units BMR Units For-Sale Rental Other (1) For-Sale Rental Other (1) For-Sale Rental Other (1) For-Sale Rental Other (1) For-Sale Rental Other (1) For-Sale Rental Other (1) Conceptual 2671754420002,459789515000255445900 0 0 Preliminary Review24002,136000628429138132704662000600 0 Application Under Review 1,973 318 440 9 200 345 978 1,363 141 6 190 0 933 1,634 834 20 265 0 Partially Entitled 1,745 1,539 2,482 226 75 0 158 694 200 0 75 66 180 706 0 0 0 0 Fully Entitled 3,405 1,529 542 496 518 0 829 1,358 0 31 45 0 1,795 1,868 0 4 76 0 Pulling Permits 342 734 0 3 134 0 67 727 0 8 55 0 522 0 732 6 0 0 Under Construction 4,120 577 1,067 68 281 356 254 1,824 245 16 268 0 1,030 2,081 0 167 201 0 Stalled 1,871 0 0 25 0 0 48 10,382 0 2 21 0 709 325 0 0 170 0 Inactive 862 1,450 0 15 181 0 551 553 62 35 26 60 19 108 0 0 0 0 Pre-Leasing/Pre-Selling 275 300 0 33 0 0 1,219 242 0 69 22 0 1,367 388 0 67 24 0 Completed 145 236 0 10 78 0 195 666 0 10 173 0 212 238 0 0 180 0 Total: 15,245 6,858 7,109 885 1,467 701 7,386 19,027 1,301 190 902 126 7,258 8,092 2,156 324 916 0 For-Sale Rental Other (1) Market Rate Grand Total: 54,554 76,050 50,172 (1) "Other" includes all projects with a mix of rental and for-sale units as well as projects for which the Rental/For-Sale determination has not yet been made. BMR Grand Total: 4,464 11,816 7,365 THE CONCORD GROUP 2 THE CONCORD GROUP SAN FRANCISCO BAY AREA PIPELINE REPORT JULY 2014 Data Summary by Submarket - Regional Map Urban East Bay San Francisco Remainder East Bay Peninsula San Jose Remainder South Bay THE CONCORD GROUP 3 THE CONCORD GROUP SAN FRANCISCO BAY AREA PIPELINE REPORT JULY 2014 Status Legend Region Legend Status TCG Definition Region Cities Early-stage projects that have not yet submitted any type of application to a planning Conceptual San Francisco San Francisco jurisdiction and may not have determined many basic details such as unit counts or product type. Active projects that have submitted an application for initial review by planning department Preliminary staff or are actively seeking planning department input in preparation for full application San Jose San Jose Review submittal and/or revision. Active projects that have submitted a complete entitlement application that is actively being Application Urban East Alameda, Albany, Berkeley, Emeryville, and reviewed by planning staff and is under consideration for approval by respective planning Under Review Bay Oakland jurisdiction. Active projects that have not received 100% of entitlements needed before proceeding to plan Fremont, Lafayette, Livermore, Moraga, Newark, Partially Remainder check. Examples: projects with approved tentative maps but without approved environmental Orinda, Pleasanton, San Leandro, San Ramon, Entitled East Bay evaluation; projects that have all underlying zoning but have unresolved design issues; etc. Union City, Walnut Creek Active projects that have all entitlements necessary to submit construction drawings for building Belmont, Burlingame, Colma, Daly City, Foster Fully Entitled permit review. Note: projects that are fully approved but have appeals/lawsuits pending may City, Half Moon Bay, Los Altos, Menlo Park, also be categorized as "Stalled" depending on circumstances. Peninsula Millbrae, Mountain View, Pacifica, Palo Alto, Redwood City, San Bruno, San Carlos, and San Active, fully entitled projects that have begun submitting construction drawings for building Pulling Permits Mateo permits, including projects that have only applied for demolition permits. Active projects that have commenced demolition, grading, excavation or other preliminary Under Remainder Campbell, Cupertino, Gilroy, Los Gatos, Milpitas, construction activities at project site. Note: large single-family subdivisions that build as they Construction South Bay Morgan Hill, Santa Clara, Saratoga, and Sunnyvale sell will have this status. Projects that are under construction and have opened sales and or leasing offices with active Pre-Leasing/ contracting. Residents have not begun moving in and certificates of occupancy have not been Pre-Selling issued. Projects that have completed construction since previous update and are more than 90% leased Completed or sold. Most have certificates of occupancy or other final inspections scheduled or completed. Active projects that have recently encountered or are currently encountering a significant obstacle and cannot achieve full entitlement status or begin construction until said obstacle is Stalled resolved. Examples include: neighborhood opposition, environmental degradation, lawsuits, lack of financing, economic uncertainty, or other unforeseen circumstances. Projects that are no longer being pushed forward through the entitlement or construction Inactive processes due to: expiration of entitlements, developer inactivity, withdrawn applications, successful lawsuits, or any other reason that has created a long time period of project inactivity. THE CONCORD GROUP 4 THE CONCORD GROUP SAN FRANCISCO BAY AREA PIPELINE REPORT JULY 2014 (sorted by City, then by number of Market-Rate and Below Market Rate units) Units Project Name Developer Address City Zip Region Tenure Type Market BMR Acres Last Action TCG Status Notes Lat Long Current planning efforts for land initiated by city Feb13. CC will likely approve zoning map, and Master Infr. Plan in early 2014; Alameda Point Urban East Full App Received on Application TC/Waterfront Precise Plans req PB and CC app--expect Redevelopment Plan SunCal Companies 2601 Monarch St Alameda 94501 Bay TBD Other 1,425 0 878 05/14/12 Under Review Mar/Apr14. TC resi no SFD; MS resi inc. SF. 37.7829 -122.305 Extremely early and conceptual. Zoned for around 800 units. Proposed 90 units for formerly homeless accomodation. Coast Guard Property (North Urban East First Contact on Memorandum of Understanding signed June 2012 between Navy Housing Parcel) US Navy 641 W Red Line Ave Alameda 94501 Bay TBD Other 820 90 42 11/05/07 Conceptual and governing bodies. 37.7893 -122.301 No formal application as of survey. Planner guesses app will be Tim Lewis 1521 Buena Vista Urban East Full App Received on for 400 MF units with condo map. Converting to apartment still Encinal Terminal Communities Ave Alameda 94501 Bay TBD Other 309 0 NA 10/15/13 Conceptual possible according to multiple sources. 37.7806 -122.258 Located in West End redevelopment area. Will be a mix of 3Bs, TriPointe Homes 2457 Mariner Square Urban East Site Approvals 4Bs, and 5Bs. Lot sizes ranging from 2,580 to 3,690. All homes West End Alameda - SFD LLC Loop Alameda 94501 Bay For-Sale SFD 285 0 22 Received on 06/10/13 Pulling Permits will be 2-3s. Other resi types planned but not incl in this entry. 37.7878 -122.281 278 resi units+285k shop ctr anchored by Target. Target opened 2275 Mariner Square Urban East Site Approvals Under Oct13, add'l commercial U/C; stores expected to open 2014. Resi Alameda Landing Catellus Loop Alameda 94501 Bay Both Mixed 254 24 72 Received on 06/10/13 Construction portion in plan check as of survey.