Housing development and building pipeline up to a record high in San Francisco

In San Francisco in 2019 the overall pipeline of housing being developed record 72,865 units, up over 5,050 from Q1 2018.

This year’s pipeline is within 3 percent of the current cycle peak record of 8,800 from Q3 2015.

Around 16,800 permitted and approved units are in play, while some major housing projects in Treasure Island, Park Merced, and Candlestick area.

Read more on Socket Site

 

What are San Francisco’s plans for Mid-Market?

 Mid-Market’s vacancies, stalled developments trigger plants to activate dormant sites.

Stalled developments have meant boarded-up walls, vandalism and empty storefronts have become all too common along the upper stretch of Market Street. The city is hoping a new type of temporary permit will spark change.

Read more on NAI Northern California’s newsletter

What’s the hold-up on housing development in the Bay Area?

Bay Area paradox: We need housing, but we don’t want to build faster.

Chronic lawsuits against new Bay Area housing developments. Loud, angry protests against pro-growth legislators and mayors. If the Bay Area has an all-season contact sport, it’s the recurring NIMBY fights against housing construction. And although almost everyone agrees housing prices are too high, few want to see faster development to tackle the problem, according to a recent Bay Area poll for the Silicon Valley Leadership Group and this news organization.

Read more on NAI Northern California’s Newsletter

Can opportunity zones improve Calfornia’s economy?

How federal ‘opportunity zone’ tax incentive can help California build an inclusive economy.

The federal opportunity zone program created by the 2017 tax overhaul, enables investors to defer capital gains taxes on funds invested in designated communities. Opportunity zones offer one path forward that relies on private capital to bear the cost. The program is designed to attract investors holding $6.1 trillion in unrealized capital gains, according to the Economic Innovation Group.​

Read more on NAI Northern California’s Newsletter

How are there over 100,000 vacant homes in the San Francisco metro area?

An estimated 100,025 homes are sitting empty in the San Francisco metro area.

Compared to other cities, San Francisco metro area’s vacancy rate is actually low at 5.6 percent. Of the 1.784 million households counted in the census region, roughly 1.684 million are occupied. LendingTree concludes a region like San Francisco – which includes Oakland, Hayward and surrounding areas is what’s considered a sellers’ market, meaning people selling their homes will easily find buyers, while future homeowners will struggle to buy. Anyone who has tried to buy a home in the city in the last decade knows this to be true.

Read more on SF Gate

What are the Golden State Warriors’ latest plans for Downtown Oakland?

Warriors won’t practice in Oakland next season but will leave downtown facility in hands of youth programs.

The Golden State Warriors announced Monday they won’t stick around to practice in their downtown Oakland basketball facility next season as they make their move to the under-construction Chase Center in San Francisco’s Mission Bay neighborhood a complete one. But that doesn’t mean the Warriors are totally abandoning the city that’s been their physical home — if not their namesake — for almost half a century.

Read more on East Bay Times

How would San Francisco’s proposed fees on empty storefronts affect retail and mixed-use properties?

This week the San Francisco Board of Supervisors will vote on whether to require owners of vacant storefronts unoccupied for more than 30 days to register their properties and pay an annual fee. This is one of the proposals they are considering to get a better idea of and start to remedy the glut of unused storefront space around the city.

Read more on Curbed San Francisco

Fight brews over hotel and housing project near Moscone Center

In San Francisco’s SoMa, an argument over city transparency could threaten to derail a key hotel and housing project. 

Across the street from the Moscone Center, the San Francisco Municipal Transportation Agency wants to turn a 732-spot garage on public land into a lucrative development. The idea is to help lure more conventions to the expanded Moscone Center, which just underwent a $550 million renovation, and build urgently needed affordable home.

But SFMTA has made a series of missteps that reveal a lack of transparency in how cities may handle public land, say community advocates, including keeping the development proposals private, not holding public meetings, and delaying the selection process. Those criticisms boiled over at a recent SFMTA board meeting and have worked their way up to the district supervisor’s ears.

The SFMTA is “trying to hold its cards closer to the chest, but that may end up making problems for them moving forward,” said District 6 Supervisor Matt Haney, who represents the surrounding constituents. Haney is meeting with community members tonight about the process.

 

Read more at San Francisco Business Times

 

Silicon Valley has the highest housing costs in the U.S.

Report says both incomes and costs soaring in the state’s tech capitol.

It’s the best of time and the worst of times in Silicon Valley, at least according to Joint Venture Silicon Valley, a regional think-tank that issued its annual Silicon Valley Index last week.

The 2019 index, a “comprehensive report based on indicators that measure the strength of our economy and the health of our community,” describes the Valley as materially successful but fundamentally anxious, as new wealth puts additional stress on those most vulnerable.

The report defines Silicon Valley as a broad region encompassing parts of Santa Clara, San Mateo, and Alameda Counties, ranging from Daly City to Union City to Gilroy to Scotts Valley.

The index includes some data from San Francisco for context but does not include the city as part of its larger regional definition. Most of the data covers 2017, with some references to 2018 as well.

 

Read more at Curbed SF 

 

 

Oakland A’s meet opposition over plans for new waterfront ballpark

Plans for a new Oakland A’s ballpark at Howard Terminal at the Port of Oakland have run into opposition that could throw up roadblocks for the project.

Last week, a coalition that includes Save The Bay sent a letter to the state legislature listing concerns from environmental, business and labor organizations about the stadium project.

In the letter, Save The Bay Executive Director David Lewis said East Bay lawmakers are considering introducing a bill that could fast-track the project through regulatory exemptions. That would lessen the project’s accountability to environmental laws designed to protect public health, public lands and vulnerable wildlife.

The coalition said it is opposed to any measures that would reduce San Francisco Bay Conservation and Development Commission oversight for the project, remove State Lands Commission-enacted public trust protections, undercut hazardous materials restrictions or seek a way around California Environmental Quality Act obligations for the project.

The A’s said they had no plans to ask state lawmakers to fast-track the process, the San Francisco Chronicle reports.

Save The Bay is not the only one arguing against the plans for the stadium.

The bar pilots association said the lights from the stadium will be blinding for those navigating container ships to the port, and those ships could hit kayakers going after stray balls, the San Francisco Chronicle reports.

The Pacific Merchant Shipping Association, which represents some of the port’s tenants, said the hotel and housing included in the plan would increase traffic and compete with trucks around the port.

Oakland has suffered the loss of sports teams, including the Golden State Warriors, who are slated to be in their new Chase Center in San Francisco for the 2019-2020 season, and the Raiders, who are moving to Las Vegas and still haven’t settled on where they will play next season before that move.

 

Read more at Bisnow Oakland