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SF Planning To Consider Proposed Mixed-Use Development At Market And Duboce

Developers of a proposed eight-story, mixed-use building at the intersection of Market and Duboce streets are seeking approval today for plans to utilize the state’s density bonus by including on-site affordable housing units.

The project at 1965 Market St., as proposed by Keller Grover Properties, LLC, would utilize the California State Density Bonus Law to exceed the site’s 50-foot height limit.

The project sponsor is the law firm housed in the building currently on site.

Read more from Hoodline

Amazon reveals top 20 city candidates for its second HQ

Amazon has reviewed the proposals from potential candidate cities for its second North American headquarters location, and it found 20 of those the most promising.

The mayors of these top 20 cities will now fight to the death in a Battle Royale-style island arena… er wait, no actually they’ll just move on the next portion of Amazon’s submission phase, which includes further proposal evaluation and working directly with the candidate cities on getting more info.

Without further ado, here are the cities that made the cut – 20 out of a total of 238 original applicants.

Read more from TechCrunch

Strong Economic Indicators Present In All Of San Francisco CRE

San Francisco’s commercial real estate market shows many positive signs for growth in 2018.

Multiple CRE products are going up right now, which is relatively uncommon, according to Vanguard Properties Director of Investment Sales Alex Kolovyansky, who spoke during a recent Bisnow event.

Office, industrial residential and hotel are all experiencing up cycles, Kolovyansky said.

“The San Francisco residential market has been growing by leaps and bounds,” he said.

In 2017, 6,500 transactions were completed in the residential market, of which 35% were for homes and 51% were for condos. A very small percentage of the transactions were for investment properties and 2.3% were for apartment buildings. Kolovyansky said 147 old and new apartments traded last year.

Read more from Bisnow

Presidio Terrace: South Bay couple sues to win back street

Jilted investors trying to crowdfund legal fees

Tina Lam and Michael Cheng, the South Bay couple who bought the privately owned Presidio Terrace street for a mere $90,100 in 2015 and then saw the legal sale overturned by the San Francisco Board of Supervisors, are now suing the city in Superior Court to undo that decision.

The San Francisco Chronicle’s Matier and Ross report that Lam and Cheng’s attorneys are arguing that the board overstepped its authority. The suit comes as no surprise, since Cheng telegraphed his intentions to sue by taking the unusual step of opening a GoFundMe page to finance the action.

According to Cheng’s “Presidio Terrace defense fund” campaign, he and Lam feel slighted and singled out by San Francisco lawmakers, particularly Supervisor Mark Farrell, whose district includes Presidio Terrace.

Read more from Curbed SF

Proposed California rent control expansion returns

After nearly a year on the shelf, repeal of 1995 Costa-Hawkins Act to have first public hearing Thursday

In February of 2017, San Francisco Assemblymember David Chiu and two other California lawmakers introduced AB 1506, a bill that would repeal the 1995 Costa-Hawkins Act, a California law that stops cities from imposing rent control on new construction.

That was almost the end of the story for AB 1506, as California landlords reacted with such umbrage that the bill’s principal author, Assemblymember Richard Bloom of Santa Monica, put it on hold for a year.

Legislation that isn’t moving forward has a shorter shelf life than farmers market produce most of the time, so it seemed the rent control expansion might die a quiet death on the back burner. But the proposal has, improbably, survived. And it’s slated for its first public hearing in Sacramento on Thursday, January 11.

The bill is the sole agenda item for the Assembly’s Housing and Community Development Committee this week. AB 1506 still has the exact airtight, no-frills wording as when lawmakers first introduced it last year:

“The Costa-Hawkins Rental Housing Act prescribes statewide limits on the application of local rent control with regard to certain properties. This bill would repeal that act.”

Read more from Curbed SF

Bill could add millions of new homes next to California’s public transit stations

California State Senator Scott Wiener proposed a trio of new housing bills on Thursday, including one that would make it easier to build taller projects near public transit.

Wiener (D-San Francisco)’s SB 827 calls for the statewide removal of single-family home and parking requirements for projects within a half-mile of transit hubs like BART, Muni and Caltrain stations.

The bill would mandate height limits of at least 45 feet to 85 feet for new projects, depending on how close they are to transit. Cities would be able to raise height limits beyond those minimums, and developers could also build smaller projects within the areas if they chose.

Read more from San Francisco Business Times

Rents in San Francisco and Oakland down at the End of 2017

Continuing the trend we first noticed forming at the end of 2016, asking rents for apartments in San Francisco and Oakland ended the year lower than at the start of 2017.

In fact, based on a comparison of nearly 2,400 listings, the weighted average asking rent for an apartment in San Francisco, including one-off rentals as well as units in larger developments such as Avalon’s new complex in Dogpatch, is currently running around $4,000 a month, which is around 4 percent lower versus the same time last year and roughly 10 percent below a peak in the fourth quarter of 2015.

And the average asking rent for a one-bedroom apartment in San Francisco is currently running around $3,400 a month having crossed the $3,600 mark in 2015.

Read more from SocketSite

Haight neighbors claim 100 percent affordable housing project at McDonald’s is too tall

The rent is too damn high, and to correct this, every San Franciscan is clamoring for The City to build affordable housing — and a lot of it. But one pocket of our sleepy little town is drumming up opposition to a plan for affordable housing at the site of the McDonald’s restaurant on Stanyan Street.

The problem? It’s too tall, they say.

The Haight Ashbury Neighborhood Council — or HANC, as they’re called — penned a public letter in late December laying out its support for the project, in general, but voiced concern that a 65-foot, 7-story-tall development would “substantially change the character of the area,” due to its “height and bulk.”

Read more from the San Francisco Examiner

Here are the Bay Area’s 10 biggest building sales of 2017

San Francisco and the rest of the Bay Area saw another banner year for building sales in 2017. Giant foreign investors, pension funds and private equity firms bought towers in the heart of downtown San Francisco and more suburban areas for record prices.

The big deals weren’t just limited to tech offices and Oakland’s investment market remains hot.

Read more from San Francisco Business Times

Silicon Valley’s largest commercial real estate leases of 2017 (so far)

So far, 2017 hasn’t been a feverish year for commercial real estate leasing, especially compared to busy 2015 and 2016, but analysts agree that it has been a good, stable year with plenty of important moves.

Among them are WeWork’s largest ever lease that just happens to be in a brand-new development in Mountain View. Meanwhile, Menlo Park-based social media giant Facebook is rapidly growing, inking multiple massive new leases in the area, and Amazon continued to spread its reach throughout the Valley with a renewed focus on the South Bay.

Read more from Silicon Valley Business Times