Long-delayed Bayview condos to break ground

From today's San Francisco Business Times,

A Houston developer backed by Goldman Sachs Urban Investment Group has acquired a key seven-acre parcel near Monster Park and is set to break ground on a $90 million, 198-unit housing development.

James Noteware, a veteran Texas housing builder with condo developments in Houston, Las Vegas and Phoenix, is set to break ground at 833-881 Jamestown Ave., according to Claude Everhart, community outreach coordinator for Noteware Development San Francisco.

The seller was Jamestown Equity Partners, led by developer Matt Murphy, who endured a 15-year entitlement process, spanning several economic cycles. Noteware Development paid $18.5 million for the site.

Called the Jamestown, the 198 condos spread throughout 11 structures will cater to families, with 37 three-bedrooms, 149 two-bedrooms, and the rest one-bedrooms. There will be three play areas, a clubhouse, and 75,000 square feet of open space. Twenty-four of the units will be affordable. Everhart said in contrast to much of the swanky new high-end development South of Market and in Rincon Hill, the focus of the project is on creating a neighborhood specifically tailored to raising children.

Everhart said pre-construction work has already started on the site.

"We think it's going to be a very exciting family neighborhood," said Everhart, adding that Noteware is looking for other sites for "quality family housing in San Francisco."

The Jamestown Avenue property, which was formerly used for overflow parking at Monster Park, will feature three-story "neo-Mediterranean" homes with 30-foot façades fronting Jamestown Avenue.

"From the street it will resemble the character and nature of a normal San Francisco neighborhood," said Everhart. [more...]

And this is in addition to the other roughly 1400 units that are going in around (and replacing) the office park between Hwy 101 and Monster Park.

Long-delayed Bayview condos to break ground [SF Business Times]

Scrap the stadium and sell off Candlestick Point for housing? [SFHomeBlog]

Photo courtesy of the San Francisco Housing Action Coalition.