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Old Posted Feb 2, 2008, 10:49 PM
BTinSF BTinSF is offline
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Join Date: Jun 2006
Location: San Francisco & Tucson
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Quote:
Originally Posted by peanut gallery View Post
This whole stretch of Howard will look very different in a few years.
More than a few, I fear. Most of these projects date from the late 90's dot-com daze. Many of them have been through the cycle office-->condo-->office-->condo and now, according to the BizTimes, back to office perhaps. And that's just as many are predicting a national decline in commercial real estate (REIT shares, often predictive, are now selling for 70% of the value of the real estate they hold, suggesting a decline in the value of that real estate of nearly that magnitude) to match the one in residential we've already seen. Frankly, I can't understand why the developers don't try to anticipate that a project started now won't be ready for occupancy for 2 years or so by which time the residential market should be solidly in recovery (and office may be still struggling). But perhaps it's just that they'd like to build but can't get money--that's what BizTimes suggested.

Anyway, I don't think a lot of those proposed projects in and around 2nd & Howard will get off the drawing boards any time soon.