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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

Which Bay Area neighborhoods are at risk for a major earthquake?

Earthquake map reveals liquefaction risks in Bay Area neighborhoods.

No place in the Bay Area is safe when it comes to the inevitable, devastating earthquakes that loom on the horizon. But some neighborhoods are better situated than others.

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 Tech IPOs affecting Bay Area Housing?

How upcoming tech IPOs could affect the Bay Area housing market.

Last week, San Francisco-based ride-hailing startup Lyft finally filed to go public – the first of what is expected to be a number of area startups (such as Uber, Slack and Pinterest) that could be making the leap from the private market this year. To understand what this means for those living and working in the Bay Area, I talked to a couple of people in the real estate industry to get their thoughts. The short answer: The IPOs will almost certainly impact inventory and pricing.

Read more on NAI Northern California’s Newsletter

Is Bay Area housing still a sizzling hot housing market?

Even cool, Bay Area housing market is still hot.

The San Jose housing market has cooled more than any other in the country — and it’s still the hottest in the nation, according to a recent Zillow survey. The bidding wars and quick cash sales have abated, and home sellers are cutting prices more often and waiting longer to close deals than a year ago. But middle-income families still struggle to afford the median-priced home of $1.2 million in the San Jose metro area. A typical family needs to put about $600,000 down to fit that mortgage comfortably in their budget.

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

Downtown San Jose hotel tower proposal gets dozens more rooms

19-story hotel in downtown San Jose would have 272 rooms.

A downtown San Jose hotel tower would have many more rooms than first proposed, according to new plans being offered by the project’s developer.

Originally, the hotel planned for the northeast corner of North Almaden Boulevard and West Santa Clara Street would have contained 220 rooms, but the latest plans propose 272 rooms, plans from project developer KT Urban shows.

“There are several key factors driving the demand for new hotel rooms in the downtown core,” said Mark Tersini, principal executive with KT Urban. “They include convention center demands for larger venues, job growth in San Jose and the Bay Area, office expansion, along with the SAP Center events.”

Among the biggest corporate plans for downtown San Jose: Google plans a transit village of offices, homes, shops, restaurants and parks near the Diridon train station, while Adobe is pushing ahead with a big expansion of its existing three-building  campus with the addition of a fourth office tower.

Plus, other firms such as WeWork, Zoom and Xactly have expanded downtown, and WeWork wants even more office space for its co-working concept.

“We believe the hotel as designed will be a tremendous addition to the downtown core, providing state-of-the-art accommodations,” Tersini said.

Some residents have raised concerns that the hotel’s proposed height could overshadow nearby buildings such as the adjacent De Anza Hotel and block views of residents living in the Axis residential tower.

 

Read more at East Bay Times

 

 

Transit-oriented development changing how Oakland grows

When it comes to the future of Oakland, a good amount of the development that will change the city has one thing in common: the transit station nearby. 

Bay Area Rapid Transit has committed to an ambitious plan to build mixed-use transit-oriented developments around its stations throughout the Bay Area, and a number of those projects will be in Oakland.

Already, the transit authority has started to transform land around MacArthur Station in the northern part of the city as well as Fruitvale Station to the southeast. Construction is underway on Coliseum Transit Village from UrbanCore Development and Oakland Economic Development Corp.

Future plans call for continued development on those sites and projects to go up around downtown BART stations.

BART’s transit-oriented development policy states that the agency will only move forward with future developments in cities that have adopted station area plans, and Oakland has been at the forefront, BART’s Sean Brooks said. Brooks, the department manager of real estate and property development for BART, will speak about TODs at Bisnow’s The Evolution of Downtown Oakland March 13.

Projects already underway have required upzoning, and the city also has been progressive about parking requirements, Brooks said.

“The city has kind of bent over backwards to help and advance some of these projects,” he said.

Case in point: the planned development for West Oakland, which got through the planning commission in record time, he said. The project was helped along in no small part because of the affordable housing it is bringing to the city.

 

Read more at Bisnow Oakland