Inside San Francisco Real Estate

Trends, tips & insights on San Francisco Real Estate

Archive for the ‘New Developments’ Category

« Previous Entries
Next Entries »

Preview: Nove’s Noe/Mission Luxury Condos

Posted by insidesfre on February 3, 2010

The nine LEED-certified condos known as Nove (pronounced “Nov-ay”) are taking shape at 1060 Guerrero and 145 Ames on the Noe Valley/Mission border. I toured the property yesterday (no photos allowed yet) and the luxury units are pretty impressive.

Designed by Handel Architects—the same group behind downtown’s Millennium—Nove is subdivided into three lots, with each lot running from Guerrero to Ames. There are three condos on each lot—two units in the front building, and one townhome-style in the rear. However, the units in each building are not detached from each other. (A couple different developers own the lots.) There will also be three separate homeowners associations.

There will be eight 3BR/2BA condos, and one 4BR/3BA unit, ranging from about 1291 square feet through about 1800 for the 4BR. Finishes are high end and designed by Studio Becker. The living areas are spacious, and the master suites typically feature nice front and rear balconies. The Guerrero units get great light and have a nice feel to them. The Ames properties have less appealing/private outlooks, as they face the Guerrero building and the homes on Ames. But the benefit is that you have no one above or below you. The two buildings are separated by a nicely landscaped area that also accommodates deeded patios.

Prices aren’t set yet, but will range from around $1.1M for the smallest 3BR to around $1.4M for the other 3BRs. The largest 4BR/3BR condo will likely be in the $1.7M range, and Nove’s first open house will be the weekend of February 20th. Contact me if you’d like a preview. My take on this project is that it’s beautifully designed and provides excellent space and finishes in a highly walkable location near public transportation, freeways and some of the best restaurants in town.

Posted in Mission/Potrero, New Developments, Noe/Eureka Valley | Tagged: , , | Leave a Comment »

New Construction Projects Moving Ahead in San Francisco

Posted by insidesfre on February 1, 2010

Several new developments are on track for construction in San Francisco, despite the economic downturn. Most prominently, according to a report Friday in the San Francisco Business Times, Bosa is planning to build Phase Two of The Radiance in Mission Bay this summer. They’ve scaled back the number of units from 318 to 170, and expect to finish the property within two years. Bosa is currently getting a new round of construction cost estimates and will be presenting that info to its lenders, Scotiabank and Bank of America.

Another anticipated project that seems to be on track is Lennar’s Hunter’s Point Shipyard. The company started work on the first 88 homes this month, and is already looking ahead to the next 159 units (breaking ground in second half of 2010).

The SF Business Times also mentions the possibility of 308 units breaking ground at 333 Harrison later this year, as well as a couple large apartment buildings.

It’s good to see projects being greenlighted in San Francisco. My sense is that we’ll see more new developments breaking ground over the next two- to three years. But Radiance and Hunter’s Point are good starts.

Posted in New Developments | Tagged: , | Leave a Comment »

Update: Linden Hayes Sales Under Way, Pricing Goes Public

Posted by insidesfre on January 21, 2010

The 32 units over at Linden Hayes—now with its official address of 233 Franklin—are finally seeing some list price ranges from the sales team.

Six units have been sold, according to Doug Shaw at Pacific Union. So if you want to jump on the bandwagon, here are the latest ranges:

1BRs: $525,000-$649,000

2BR/2BA: $800,000-$965,000

3BR/2BA: $940,000-$995,000

The first owners can expect to move in around mid-March. Contact me if you’d like a private tour. But keep in mind that the building is nowhere near finished!

Posted in Hayes Valley, New Developments | Tagged: , | Leave a Comment »

A Look Inside the Mission’s Newest Development: 555 Bartlett

Posted by insidesfre on January 15, 2010

I attended a friends and neighbors party at the Mission’s new 555 Bartlett last night. The building isn’t quite complete, but it’s pretty obvious that it will cater to what San Francisco buyers need—reasonably priced units with parking in a central, increasingly hip location.

The 58-unit development is located at the corner of Mission and Cesar Chavez and features a mix of predominantly one- and two-bedroom condos.

The developer is pricing Bartlett in a very appealing price range for new construction—and for a majority of San Francisco buyers. The one bedrooms will start in the $400,000s, and the two bedrooms will be listed in the mid-$500,000s. There are a handful of three-bedroom units in the $600,000s, and a few studios. Many of the one bedrooms, some with studies, face the 26th Street side of the project, which will be quieter. The two bedrooms face Cesar Chavez.

Here’s a look at the living room of the staged one-bedroom model, along with the kitchen—and a desk area that lies between the bedroom and bathroom:

The two-bedroom model is staged a bit more whimsically, and also includes a painted “brick wall” :

Finishes are quite nice for the price point, and include quartz countertops, Bosch gas range, microwave and dishwasher, and Kohler faucets. Most units have small balconies or decks, and are pre-wired for ceiling fans and alarm systems.

There’s also an approximately 11,000-square foot interior courtyard, bike storage, an elevator, and a Walgreens on the ground level. Parking comes with each unit, but those opting for no parking can chop $40,000 off the purchase price. HOA dues will range from $270-$350/mo.

The location is extremely convenient for downtown and Peninsula commuters. BART is three blocks north on Mission, and 280 or 101 are about two minutes away. You can also walk one block to Valencia and find yourself a stone’s throw from Pi Bar, Anthony’s Cookies, and Beretta. Or head south on Mission and hit El Rio, Blue Plate, Good Frikin’ Chicken, Emmy’s Spaghetti Shack, the Front Porch, and Safeway.

Though not yet ready to be shown to the public, 555 Bartlett will open soon. And don’t get too put off by the existing exterior colors; I’m told they are primer for the final color scheme.

555 Bartlett is also approved for FHA loans.

Let me know if you’d like to schedule an appointment before the masses get through the doors.

Posted in FHA, Mission/Potrero, New Developments | Tagged: , | 8 Comments »

Mission’s Union Gets FHA Approval

Posted by insidesfre on January 13, 2010

One of the latest condo developments to get FHA loan approval is Union, the 76-unit complex at Bryant between 19th & 20th in the Mission. The project has been on the market since last year, and is more than 50% sold, according to the sales team, and it’s now possible to buy a condo in Union with as little as 3.5% down.

Union is split into two parts: the townhomes, and the recently released brick-and-timber lofts. Price ranges for remaining townhomes are $675,000-$799,000 for two bedrooms, and $820,000-$895,000 for three bedrooms.

One-bedroom lofts range from $575,000-735,000; two bedrooms are $660,000-$755,000 and three bedrooms are listed between $795,000-$859,000. The loft units tend to be smaller than the townhomes.

Before you run out to get preapproved for an FHA loan, make sure you run the numbers and find out how much your monthly payments will be. As I’ve noted in this blog before, FHA loans let buyers purchase homes who don’t have the required 20% down payment. But be mindful of how much cash you’ll have to come up with on large loan amounts.

Posted in FHA, Home Buyer Tips, Mission/Potrero, New Developments | Tagged: , | Leave a Comment »

13 New Condos Coming at 15th & Dolores

Posted by insidesfre on January 5, 2010

The long-vacant lot and its adjacent historical structure at the corner of 15th and Dolores are finally scheduled to become high-end residential housing later this year (barring one more upcoming “formality hearing”):

The property went through Planning review channels last Fall, and is now slated to host a mix of one- and two-bedroom condos (plus one three bedroom). Development on the land has been battled by neighbors for years, but it looks like the time has come for residential housing to take hold.

The existing structure—originally built in 1904 as a parsonage, which is a house provided for the pastor of a church—will be transformed into three condos, and the lot will ultimately see four stories of ten additional units. Parking will be available for all condos.

The developer is experienced in creating “unique, boutique residences,” according to one of the listing agents for the project. So I’m guessing pricing will be closer to the $1M mark and above for these units. (Luxury properties in established neighborhoods are generally selling at $1,000/sq foot.)

Smaller buildings with luxury finishes seem to be the trend these days, as those buyers willing and able to pay higher prices tend to prefer smaller buildings in well-established neighborhoods with limited development opportunity. And this one is in an extremely walkable, central location in Mission Dolores and straddling the Castro, Duboce Triangle, and Hayes Valley areas.

I’ll keep you posted on this project as it unfolds.

Posted in Hayes Valley, Mission/Potrero, New Developments, Noe/Eureka Valley | Tagged: , | Leave a Comment »

LindenHayes Condo Development Ready for Its Closeup

Posted by insidesfre on December 16, 2009


The 32-unit development with a 98 Walk Score that fronts Hayes, Grove and Linden in the heart of Hayes Valley & its adjacent cultural playground is now officially known as LindenHayes. Floor plans and other details are online now.

The five-story building will feature one-, two-, and three-bedroom unit configurations with air conditioning and an elevator. Sternberg Benjamin Architects designed the project (they’re also behind developments like 3949 Sacramento, 798 Stanyan and Beulah and The Coliseum on Clement) and the look will be crisp, Euro-contemporary.

Finishes are high end, including cabinets by Studio Becker; Bertazoni ranges; Fisher Paykel refrigerators, and Brazilian hardwood floors. Residences will also be pre-wired for computer/entertainment needs.

Grove Cafe will be the commercial tenant, and I’m expecting that presence to really tie in the neighborhood. Locationwise, you’re in walking distance of pretty much everything, including public transportation, restaurants and the Opera, Symphony, and Asian Art Museum.

Pricing is still to be set, but occupancy is expected by February 2010. Agent-accompanied, hard hat tours are available now for serious buyers—give me a call and I’ll get you in anytime between 9:00-4:00PM, M-F.

Posted in Hayes Valley, New Developments | Tagged: , | 2 Comments »

Noe Valley/Mission Luxury Condos Unwrapped

Posted by insidesfre on December 10, 2009

Once the site of the Palm Broker nursery, the new development called Nove is taking shape on the 1100 block of Guerrero on the Noe/Mission border are getting closer to coming on the market.

The development will encompass the three two-unit buildings above that front Guerrero, as well as three single-family homes on Ames, which is directly behind Guerrero. No word on unit configurations yet, but sources say pricing will clock in at around $850 per square foot.

This is an excellent location for buyers who want to walk to everything, including BART, Muni, Valencia corridor and the heart of Noe Valley on 24th Street. I’ve lived in the neighborhood for more than a decade, and can attest to the convenience factor.

Posted in Mission/Potrero, New Developments, Noe/Eureka Valley | Tagged: , , , | 1 Comment »

Noe Valley Condo Development Hits the Skids

Posted by insidesfre on December 4, 2009


230 Duncan between Dolores and Church wasn’t always the plastic bag disaster it is today. It was a 1,000-square foot single-family home from 1900-2007 that was used as a rental property in its later years.

The Planning Department granted a demolition permit back in 2006. John Pollard and his 5-12 Constr. Inc DBA SF Garage crew then obtained their permit in November 2007 to erect four stories and create two dwelling units for a recorded cost of $850,000.

Things didn’t go wildly smoothly after that. The next-door neighbors filed a complaint at the end of 2007 when the demolition damaged part of their building. And the 230 Duncan project has been at a standstill since its last story went up. Neighbors are disgusted, the site’s a blight, and the portatoilet at the curb stinks. I know, because I walk my dogs past the place every day. Even they avoid the outhouse.

No word on what the outcome will be. My guess is that a replacement developer may get a pretty good deal on an unfinished structure.

Posted in New Developments, Noe/Eureka Valley | Tagged: , , | 2 Comments »

“Euro-Style” Condos Hit the Inner Sunset

Posted by insidesfre on November 30, 2009

I stopped by 1327 7th Avenue last week during my broker tour. This is a newly renovated property featuring eight residential units and a commercial space in a front building, and three townhomes in the rear, with a courtyard in between. There’s an elevator in the front building, and parking is underground.

I was quite impressed with the property (though the bedrooms are on the small side; the king-size bed crowd should stay away). And I was into the idea of the “design that echoes Europe’s terraced cottages.” Prices start at around $1,175,000 for #11, a 2BR/2BA, 1272-sq foot corner unit. I actually liked this unit a lot, due to the numerous windows and outlooks:

List prices top out at $1,395,000 for the two-level, 3BR/2BA, 1631-sq foot unit with two private patios and vaulted ceilings. (The listing office had received an offer on this unit at the time of my visit.) The three townhomes at the rear of the lot in a separate building are priced at around $1,225,000. They feature living/dining/kitchen areas on the main level, and bedrooms upstairs. Downside is that your main living level looks right out onto the courtyard, which doesn’t offer much privacy.

HOA dues are between $500-$600 per month.

So far, one unit in the front building and the commercial unit are in contract. Not bad for only being on the market a couple weeks. It’s a bit of a challenge to find accurate comparable sales; for example, the most expensive condo in the Inner Sunset that sold this year was on 8th Avenue at Kirkham—a remodeled, Marina-style, 2BR/1BA with sunroom and two-car parking that sold in February for $850,000. And in terms of single-family homes, you could’ve bought 1530 8th at Lawton for $1,225,000. This was a remodeled, 1600-sq foot, Arts & Crafts-style 3BR/2.5BA with two-car parking.

With 1327 7th Avenue, you’re got top-notch finishes and presentation, as well as a wildly convenient locale. These properties fall between a condo and a single-family home, and they’re ready to go. So you don’t have to worry about having to install a new roof, take care of termite work, or upgrade to copper plumbing (which is not the case when it comes to those old Edwardians, right?).

Posted in New Developments, Sunset/Parkside | Tagged: , , , | Leave a Comment »

« Previous Entries
Next Entries »