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November 27, 2010

Noe Valley Lot On Track for “Luxe” Condos

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Just got back into town after Thanksgiving and noticed the latest update on the blue church lot at Church and 28th Street in Noe Valley. Looks like this long-empty lot and development-hell condo project are finally experiencing some progress.

The former blue church was demolished about a year ago, but the long-simmering condo development went way off track due to the faltering economy. Some of you might recall that the site was historically a movie theatre, and The Examiner ran a good article last year with some background on that. The theatre had many names in its past, including “The Searchlight,” “Empress,” and “Princess.” None of those strike me as good condo building names, so it’s no surprise that the developers have elected to go with “The Luxe,” which was also a past theatre name. Luxury condos in Noe have actually been doing quite well, so the name is fitting.

Construction is scheduled to begin in two to three months, with unit delivery in Spring 2012. The project will consist of six residential condos over commercial. There will be three 2BR/2BA flats, approximately 1050-square feet each. And there will also be three 3BR/2.5BA townhomes, ranging from 1750-2150 square feet. All units will have one parking space, and there will be a shared interior courtyard (some units will have decks). We’re expecting high-end, modern homes here.

Here’s a close-up of the sign, which shows a rendering of the “coming soon!” project:

No word on price just yet, but I’m guessing units will range from $900,000 to well above $1.2M. Use Nove on Guerrero as a reference point. Those units sold rapidly at very high price points, and were in what would arguably be deemed a less desirable location.

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