June 9, 2010

Santa Clara Scores A Potential Stadium/Team As Measure J Passes

While still not a done deal with respect to a move of the San Francisco 49ers from San Francisco, yesterday Santa Clara voters approved Measure J which paves the way to build a new stadium and move the team south.

Lennar's redevelopment plans for Candlestick Point would obviously be affected by the move, but as we wrote a year ago:

We’ll go on record with the suggestion for the development of a "football" stadium and a few practice pitches of another kind. Can you say San Francisco Earthquakes?

And that’s not just the World Cup talking.

· More Sizzle Than Steak For Lennar's San Francisco Stadium Plan? [SocketSite]
· The Grand Plan And Aesthetics For Candlestick/Hunters Point [SocketSite]
· First And Goal For The San Francisco Santa Clara 49ers Stadium [SocketSite]
· Can You Say San Francisco Earthquakes? [SocketSite]

Readers' Comments (0) | Permalink | Email Story | Filed under: Neighborhoods

Real Estate Related June 8 Election Results: F Fails, G And 13 Pass

With a voter turnout of 23.35% and 104,616 ballots cast in San Francisco, Measure F (rent increase postponements due to financial hardship) has failed with 56.83% voting no while Measure G (making it city policy that San Francisco’s High Speed Rail terminal is located in the new Transbay Transit Center) has passed with 83.51% voting yes.

Statewide Proposition 13 which provides that a seismic retrofit will not trigger a property tax value reassessment received yes votes from 85.79% of San Francisco voters, it's headed for the same margin of victory statewide.

· June 8, 2010 Election Results: San Francisco | California

Readers' Comments (8) | Permalink | Email Story | Filed under: Breaking News

June 8, 2010

Ideas And Concepts For (A) Gateway Park Across The Bay

"As officials from nine governmental bodies explore the idea of adding a park along the south edge of where the [Bay Bridge] will touch down, this much is clear: The only way to make such a space fulfill its potential - or be worth pursuing - is to approach it as an act of transformation, where nature and industry collide for everyone to see."

All we ask is that Snoopy and his Sopwith Camel somehow return to protect the bay.

· Bay Bridge Gateway Park a chance for big ideas [SFGate]
· Gateway Park [baybridgegatewaypark.org]

Readers' Comments (2) | Permalink | Email Story | Filed under: As Proposed, Being Green, Design & Architecture, East Bay

Apples To Apples For A Five Year Bernal Hold

The sale of 318 Winfield closed escrow last week (6/3/10) with a reported contract price of $1,065,000 ($732 per square foot). Purchased for $1,050,000 in March 2005, call it total effective appreciation of 1.4 percent over the past five years, but more likely a few years of up and then down, for this remodeled Bernal Heights single-family home.

· 318 Winfield No Longer "Bank Owned" (But Reduced) [SocketSite]

Readers' Comments (13) | Permalink | Email Story | Filed under: Apples To Apples

San Francisco’s DUM Policy In Principle (And Action At 2037 Jefferson)

Built as a single-family residence in 1926, converted to a two-unit building in 1981, and sold in 2009 (for $2,003,500), the new owners of 2037 Jefferson would like to return their building to a single-family residence.

The five criteria to be considered by Planning in evaluating any proposed dwelling unit merger (DUM) pursuant to Section 317 of the Planning Code:

1. Removal of the units would eliminate only owner occupied housing
2. Removal of the units and the merger with another is intended for owner occupancy
3. Removal of the units will bring the building closer into conformance with the prevailing density in its immediate area and in the same zoning district
4. Removal of the units will bring the building closer into conformance with zoning
5. Removal of the units is necessary to correct design or functional deficiencies that cannot be corrected through interior alterations

Unfortunately for the owners of 2037 Jefferson their DUM request has been deemed to fail criteria one (there’s a tenant), four (it’s zoned RH-2), and five (functional deficiencies are rather subjective). And as such, the Planning Department has recommended that the Planning Commission reject the application.

Keep in mind that the City’s stated objective for strictly controlling unit mergers is driven by a desire to retain existing housing and is rationalized by "the fact that existing rental housing stock is virtually irreplaceable given the cost of new construction."

Of course the latest long-term housing pipeline for San Francisco includes 46,600 units of new construction, including Avant Housing’s 194-unit 1880 Mission Street project which isn't the only rental project in the reality mix.

· Dwellng Unit Merger (DUM) Review: 2037-39 Jefferson [sf-planning.org]
· San Francisco’s Q4 2009 Housing Pipeline Report [SocketSite]
· 1880 Mission (Gardens) Now Slated For Spring 2011 Bloom [SocketSite]

Readers' Comments (24) | Permalink | Email Story | Filed under: Remodeling and Renovation, Seemingly Random

160 San Marcos: Revised Designs (And Renewed Opposition)

On the market for $695,000 in 2008 as a lot with plans for a Craig Steely home, the proposed design for 160 San Marcos has evolved since (along with opposition).

The proposed project is the construction of a five-bedroom, 4,003-square-foot (sf), single-family home with 3,390 sf of living space on three levels over a 613 sf ground-floor garage with parking for two vehicles. The building would be 40 feet tall when measured from the existing sidewalk elevation at the front property line and would follow the contour of the property, never exceeding 40 feet above the natural grade line.

The proposed residence would have a two-car garage on the ground level; a family room and half-bath on the first floor; a living room, kitchen, two bedrooms and bathroom on the second floor; and three bedrooms and two bathrooms on the third floor. An elevator would run from the rear of the garage to the top level.

The challenge to the project in the form of a requested Discretionary Review (DR):

The DR requestor is concerned that the scale of excavation proposed is excessive and would adversely impact the livability of the neighborhood by causing traffic and stress on the roadway infrastructure.

And the history:

In 2005 a similar project by the same architect was proposed for the subject property...None of the neighbors requested discretionary review on that project and the project was approved by the Department. The permit was later cancelled due to a lack of response by the sponsor. The Department supported the original project and for consistency supported the current project when it was submitted over three-years after the 2005 permit was approved. The Department assumed that the neighbors who did not object to the 2005 project would not object to the 2008 project.

In front of the Planning Commission on Thursday, the Planning Department recommends approving the project as revised and proposed. What's that they say about making assumptions?

· No Approvals Or Permits But Rather Modern Plans For 160 San Marcos [SocketSite]

Readers' Comments (20) | Permalink | Email Story | Filed under: As Proposed, Design & Architecture

Fisherman’s Wharf Public Realm Plan To Be Presented Wednesday

Returning to the public’s eye like the sea lions to the wharf, tomorrow at 4pm the Planning Department (in partnership with the Fisherman's Wharf Community Benefit District) will present the Draft Fisherman's Wharf Public Realm Plan to the public.

Meeting topics will include: "the design for Jefferson Street; the streetscape design guidelines for the remainder of the streets in the study area; the design guidelines for new development; the parking and circulation management plan; and the designs for new and refurbished open spaces."

· Fisherman's Wharf Public Realm Plan Meeting: 6/9/10 [sfnpc.org]
· San Francisco's Fisherman's Wharf Public Ream Realm Plan [SocketSite]
· Trolling For Tourists And Locals Alike On Fisherman's Wharf [SocketSite]

Readers' Comments (2) | Permalink | Email Story | Filed under: As Proposed, Being Green, Design & Architecture, Neighborhoods

June 7, 2010

Additional '08 Stack (And Year) Perspective From One Rincon Hill

Hours after our noting the bank-owned listing for 425 1st Street #3908 at $695,000, the sales office at One Rincon Hill reduced the list price for 425 1st Street #4308 from $780,000 to $749,000 ($992 per square foot).

Today, the sale of 425 1st Street #4408 closed escrow with a reported contract price of $690,000 ($914 per square foot), the 755 square foot view one-bedroom had most recently been listed by the sales office for $785,000.

Considering the sale office sold #3908 for $855,000 in June 2008 ($1,132 per square), and taking into account a five floor higher premium, we’ll call it a 20-25 percent drop in value for #4408 over the past two years.

And the argument that $695,000 for #3908 is "cheap" simply because #4308 is listed for $780,000 $749,000? Not so strong.

UPDATE: 425 1st Street #4308 is now listed as in escrow and with contingencies waived. This ought to be interesting. Hopefully the buyers had the inside scoop with respect to the contract price for #4408.

· The First Listed Foreclosure At 425 First (One Rincon Hill) [SocketSite]

Readers' Comments (19) | Permalink | Email Story | Filed under: Bay Buildings, Bubble (Or Not)

A Plugged-In Pot Filler Comment (And Theme) We Couldn’t Resist

"My wife and I did a large kitchen renovation in our last house which included a pot filler (a faucet over the range). The pot filler was a huge hit and conversation starter with everyone that visited the house. That said we probably used the pot filler three times in three years.

We then sold the house and moved to another house within the same neighborhood and have become friends with the new owners.

At a recent dinner with the new owners of our old house, the wife told us that the added touch of the pot filler was the clincher that told her that she wanted the house. Then, in her next breath, she admitted that she had not used it since they moved in (November 2008)."

· Faucet Over The Stove? Yes. Television Over The Fireplace? Well… [SocketSite]

Readers' Comments (44) | Permalink | Email Story | Filed under: Design & Architecture, Just Quotes (Emphasis Added), Remodeling and Renovation, SocketSite Readers Report

Listed Inventory Crosses 2009 Mark For Four Year Seasonal High

With an uptick of 4 percent over the past week, the inventory of listed single-family homes, condos, and TICs for sale in San Francisco has reached a four year seasonal high (i.e., versus the same point in time over the past four years) having crossed the inventory levels of 2009 (1651) on a year-over-year basis for the first time in 2010 (1677).

· SocketSite's San Francisco Listed Housing Inventory: 6/1/10 [SocketSite]