Eastern Neighborhoods Community Planning Update

On 05.14.09, In Uncategorized, By christine

Neighborhood plans are for East SOMA (including parts of SOMA, Mission Bay, South Beach) Mission (Inner Mission +), Showplace Square/ Portrero Hill, and Central Waterfront

Eastern Neighborhoods Rezoning Map
Roughly 8 years ago the eastern neighborhood community planning process began in response to the growing development, construction and changes in these neighborhoods.

As a result these areas of town have been changing with residential, office and industrial use buildings over lapping.  Because the concentration of residential and commercial ares are blending it is causing challenges around noise, remodeling, activity, etc.  In an effort to create some organization to the development and consistency this planning initiative began.  This will help keep any one type of building use from being pushed out of the area or businesses forced to close and allow for better developed neighborhoods.

The zoning changes are well underway now and owners have/will receive a notice stating their properties official zoning use.  If the property use is not consistant with the legal zoning you can file for a variance.

For additional formation and updates visit the SFPlanning Department.


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New Development of a Transportation Terminal in San Francisco

On 05.11.09, In San Francisco Real Estate Market Update, Transbay Terminal Development, By christine

Movements are underway for the new Transbay Terminal in San Francisco.  This new hub for transportation is being modeled after other cities like London, Tokyo and New York.  It will create a centralized place for all our transportation to merge and allow change over to the various transportation services.  Caltrain will be extended underground from the 4th Street & King station to this hub.  BART, MUNI and even a future high speed light rail will converge in this epicenter. Overall it will connect 8 transportation operations from 9 Bay Area Counties.

The terminal itself will have 5 levels including the Rail, concourse, ground, mezzanine, bus and a roof top park.  The park will be a stretch of public open space and at the end will the a future tower of residential and commercial units (most likely).  Construction is expected to last through 2018 (which means most likely longer) and will happen in phases (the last of which will most likely be the high speed light rail connecting SF to LA in 2 1/2 hours) .

The transportation is not all that goes along with this tremendous project. The neighborhood will continue to grow with new commercial businesses and residential units built up around the area.  We have already seen some of the development with The Millennium Tower, The Infinity Towers and One Rincon.  There will be other residential buildings slated to be constructed after the Transbay Terminal development in the respective areas.

The temporary terminal is under construction at the corner of Main and Folsom.  Storage for many of the buses (particularly the ones that come from out of the city who normally go back prior to the end of the day and will now stay in the city to cut down on expenses and carbon emissions) will be stored during the day under the freeway overpass at 4th street between Harrison and Bryant.

For more informaiton and updates visit www.transbaycenter.org.

Future Transbay Terminal and Tower

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San Francisco City and County April Sales Market Update

On 05.05.09, In San Francisco Real Estate Market Update, By christine

Market Statistics for Single Family Homes, Condominiums (includes condos, loft condos, tic and stock cooperatives) and 2-4 Unit Buildings

The below statistics for a 2 year comparison of April 2007 to April of 2009 for the City of San Francisco.  These numbers are averages for the sales throughout the city so please keep in mind that the numbers may be very different when looking at a more specific neighborhood.  The variances may also adjust based on price point.

For a specific analysis of you property based on the details of your home/investment and the neighborhood please email me.

SFH 07 vs 09:
Median Price (sold): -21% (2007 $910,000 vs 2009 $715,000 )
Number of Units (sold): -42% (2007 207 units vs 2009 121 units)
Months Supply of Inventory: +20% ( 2007 2.5 months vs 2009 3.0)
Days on Market:  +74% (2007 30 days vs 2009 52 days)

Condo (condo/loft condo/co-op/tic) 07 vs 09:
Median Price (sold):  -10% ( 2007 $717,500 vs 2009 $649,000 )
Number of Units (sold):  – 60% (2007 284 units vs 2009 113 units )
Months Supply of Inventory:  +119% (2007 2.2 months vs 2009 4.8 months)
Days on Market: +59% (2007 36 days vs 2009 57 days)

2-4 Units 07 vs 09:
Median Price (sold): – 30% (2007 $1,360,500 vs 2009 $950,000)
Number of Units (sold):  -57% ( 2007 44 units vs 2009 19 units)
Months Supply of Inventory:  +88%  ( 2007 3.5 months vs 2009 6.6 months)
Days on Market: +27% (2007 50 days vs 2009 64 days)

 
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