Archive for the ‘Soma’ Category

New Condo Developments in San Francisco

 

Yesterday evening I had the pleasure to attending “Cranes of SoMa” — a panel discussion of new residential developments in San Francisco’s South of Market neighborhood. No other area of the city is seeing as much construction as is happening here–Approximately 60% of the city’s new construction is happening in District 6 which includes the Tenderloin, South of Market, Mid-Market/Civic Center, South Beach, Mission Bay and Rincon Hill.

Fact: Never has there been so much construction at one time in the history of San Francisco (at least since 1906).

Here’s an interactive map with information on the major new condominium developments of 60+ units currently selling and/or being built:

 

With consideration to new condominium developments of 60+ units:

  • 8 new developments accounting for a total 1,425 units are now selling
  • 941 units are currently under construction, pre-sale

 

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Perhaps the most anticipated of the upcoming new developments is 181 Fremont Street, otherwise known as Park 181. Starting on the 53rd floor and rising 17 stories, the luxury high-rise condominiums here will offer residents the opportunity to live higher in the sky than anywhere west of Chicago. The unit count here includes a full 53rd floor of studio and one-bedroom residences available for purchase only be owners of larger units. At the 70th floor, a full-floor 7,000+/- square foot penthouse will be one of the San Francisco’s most valuable properties (the Tower B penthouse at nearby LUMINA is on the market right now for $49 million). Floors 54 thru 69 will offer a mix of two- and three-bedroom condominiums (no more than four per floor) and four half-floor penthouses. Recent sales have seen the cost of new condominiums rise above $2,200 per square foot, and residences at Park 181 are expected to start around $3,000 per square foot.

For more information on any of the new condominium developments now selling or under construction, please contact me.

 

Meredith Martin is a Broker Associate at Paragon Real Estate Group and can be reached at Meredith@OpeningDoors.me

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Where the boys and girls hang out in San Francisco – UberCab stats

@Abrams  forwarded this link to this post onto me and I’ve been obsessed ever since.  It’s not just that it’s a pretty interactive map, it’s that I am fascinated by human nature and this is such a detailed sneak peak into the comings and goings of San Franciscan’s, that I can’t stop going back to it.   Penned by a @BradleyVoytek  a neuroscientist working with Uber formerly UberCab, an on-call driving service here in San Francisco that took off a couple years ago.  Here are a few snippets:

  • There are 35% more women in the Marina and 47% more women in Pac Heights on weekend nights than expected.
    * Conversely, there are 23% more men in SoMa, 16% more in the Castro, and 14% more in the Financial District;
  • What happens in Soma has a 17% chance of staying in Soma.
  • Where do Iphone users, and Android users hang out
  • During normal business hours everyone’s headed into the Financial District…
    * …but on weekend nights it’s all about the parties: the Mission, the Marina, Downtown, the Castro, and Western Addition. Read more:

(So ladies if you’re looking for a straight man in this city, you’re odds increase in Soma.  Men let’s face it you can go anywhere in this city and have high odds as a straight guy).

Uberdata: Mapping the San Franciscome [blog.Uber.com]

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Metreon scores big-box Target

Shoppers could be finding the deal on Aisle 4 of a Target store in the Metreon as soon as early 2012 now that the project has gained approval.

On Tuesday, the San Francisco Redevelopment Agency unanimously approved the plans Target needed to build its 100,000-square-foot store on the first and second floors of the Metreon, which has been plagued by vacancies the past year.

The latest approval means the Metreon sign will be replaced with Target’s signature bull’s-eye signage.

Metreon scores big-box Target [San Francisco Examiner]

Meredith Martin is a life long resident of the bay area and a real estate professional with over 15 years experience. She can be reached at mm@meredithmartin.com.
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Happy Ending for Blighted Hugo Hotel

You’ve probably heard of the “broken window” theory. It says that if a broken window isn’t fixed it sends a message to the neighborhood that the people who live here don’t care, so go ahead and spray graffiti, vandalize property, and break more windows.

In San Francisco we don’t have broken windows. We have broken buildings.

Exhibit A is the “furniture building” near the base of Sixth Street. Vacant since 1988, the Hugo Hotel is a claptrap building with a single defining feature – artist Brian Goggins’ Defenestration. Gaudy orange, green and purple pieces of furniture teeter half in and half out of windows and are stuck to the outside walls like armchair barnacles.

Motorists roll off the 280 exit ramp onto Sixth, and are confronted by this graffiti-splattered eyesore with gaping, empty window cavities. As a gateway building to downtown, the message is pretty clear: Welcome to San Francisco. It’s a mess.

But Friday the Redevelopment Agency shared with us that, for the first time since 1989, there is finally hope. A developer has been picked, plans are being drawn, and as soon as 2012 construction will begin on a structure that will transform the corner and may even have a lasting impact on the troubled Sixth Street corridor.

Cue the sigh of relief in the neighborhood.

Read more: Happy ending for blighted Hugo Hotel [sfgate.com]

Meredith Martin is a life long resident of the bay area and a real estate professional with over 15 years experience. She can be reached at mm@meredithmartin.com.
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Voter Approved High Speed Rail – It's coming to SF


South of Market Residents have a new reason to lose their cars – as well as yet another major construction project planned for the hood. Just like the Bay Bridge retrofit, this one promises to be delayed, long, debated and probably pretty cool once it’s complete.

As real estate agents, we’re being advised to take this into consideration when selling properties in the surrounding area…

On November 5, 2008, California voters approved Proposition 1A authorizing funding of a high-speed rail transportation system linking various cities in the State. Both the location of the proposed rail system and the possible effect that the construction and operation of that system will have on residential areas has been the subject of concern and debate. Some news reports have indicated that, depending upon the location of the high-speed rail system, it may have a negative effect on some properties in the San Francisco Bay Area. It is anticipated that construction is
likely to begin as early as 2011.

Precisely what impact, if any, the proposed high-speed rail transportation system will have on any given property is unknown either before, during or after construction. The construction and/or use of the transportation system may affect people differently. Real estate agents are not experts in this area and buyers are advised to satisfy themselves with regard to this issue during their inspection contingency period.

www.CAHighSpeedRail.ca.gov [California High Speed Rail Authority]

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