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  #221  
Old Posted Mar 24, 2005, 11:42 PM
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^ 11,000 Housing Units? Wow, that should be great news for San Francisco. However, only 2,500 of the 11,000 units are for affordable housing so I wonder how much impact this project would actually have in the cost of housing as a whole. I'm sure the rest of the 8,500 units that are not affordable housing will probably go for...$700,000; 1 mil, 2 mil. That's not much help!
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  #222  
Old Posted Mar 24, 2005, 11:54 PM
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that's 8,500 buyers who won't be living in or competing for housing elsewhere in the city.
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  #223  
Old Posted Mar 25, 2005, 12:28 AM
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Basic Economics.

An increase in Supply helps meet Demand and keeps prices lower.
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  #224  
Old Posted Mar 25, 2005, 5:33 AM
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well if supply meets demand, then the market is at equilibrium, if u want prices to drop, u gotta increase the supply above the demand level
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  #225  
Old Posted Mar 27, 2005, 6:43 AM
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^ Better to do that than to screw everything up with requirements absurd amount of "affordable housing". Honestly, if I can afford a 2 million dollar condo, i don't want some people stringing along with 25k a year and 4 kids in my building, sorry.
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  #226  
Old Posted Mar 27, 2005, 4:48 PM
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Sorry if I sound really dumb, cause I haven't been following the thread too closely, but will San Francisco get a new tallest soon, or anything higher/as high as the Bank of America building? Just curious SF looks like it has some great projects coming along!
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  #227  
Old Posted Mar 27, 2005, 5:36 PM
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Everything is in the first post of this thread, last updated on 03-16-2005.
The tallest UC is St. Regis Museum Tower (height: 484', floors: 42)
The tallest approved is 311 Mission Street (height: 625', floors: 58)
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  #228  
Old Posted Mar 29, 2005, 7:28 AM
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There has been talk of a tower connected to the new Transbay redevelopment that may be allowed to soar up to 850 feet, but that's only talk at this point.
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  #229  
Old Posted Apr 4, 2005, 6:59 AM
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In this week's San Francisco Business Times:

Mission Bay home run
Burst of building to add more than 1,500 units
Lizette Wilson


Mission Bay is getting taller.

Three residential towers are under construction now at San Francisco's newest neighborhood, with another four scheduled to break ground this summer and five others on the way. By 2007, they will add 785 more units available for purchase, and another 745 for rent -- a massive transformation for the once-barren railroad yard.

"This time next year and especially two years from now, it will really feel like the next new neighborhood of San Francisco," said Mike Ghielmetti, president of Signature Properties which has completed one condo project, is building another, and is closing escrow this month on a third parcel slated for condo development, all in Mission Bay. "From an urban-planning standpoint, it's a very walkable and livable community," he said. "It seems so simple, but it's actually pretty rare."

Fresh residential development is significant not only because it adds critical mass to the burgeoning neighborhood -- anchored with retail, including Safeway, Borders Books and Amici's Pizza -- but also because it adds to the city's anemic stock of new housing.

Projects now under way:

Signature Properties is driving piles at 235 Berry St. This 99-unit condo development at Fourth and Berry streets will be similar to Signature's first Mission Bay neighboring development at 255 Berry St., albeit slightly smaller. The 235 Berry project is slated for completion in summer or fall of 2006.

Mercy Housing's Mission Creek Senior Community is under construction now at Fourth and Berry streets and should be completed by December. The 140-unit complex will be rented to low-income seniors and house a new branch of the San Francisco library on the ground floor. Residents will begin moving in January 2006.

AvalonBay Communities recently completed the pile work for its Avalon Bay II market-rate rental community at Fourth and King streets. The 313-unit complex, which will have a 16-story tower and a seven-story midrise component, is slated for completion in early 2007, with some units becoming available in late 2006. The complex will have an indoor basketball court, rock climbing wall and other amenities.

"The two communities will be operated together, so we wanted to try something different," said AvalonBay's Senior Vice President of Development Steve Wilson, confirming mass excavation will begin in two weeks.

Added AvalonBay Construction Manager Duane Carlson: "This project will be another crown jewel for us."

This summer even more work is slated.

Urban Housing Corp., a division of Marcus & Millichap Companies, expects to break ground July 1 on a 194-unit rental complex. The property, located at 355 Berry Street, will be as tall as six stories and is slated for completion May 2007.

Opus West Corp. expects to break ground on a seven-story building this summer at 325 Berry St. The 110-unit condo development will be market rate and is slated for completion in 2006, with occupancy slated just before the new year.

Signature Properties will close escrow on a third parcel this month and plans to break ground there this summer. The 16-story tower will have 260 units and should be completed during the spring of 2007.

Said Signature's Ghielmetti: "Once we close, we like to move pretty quickly."

Fall construction will include two Redevelopment Agency sites on Berry Street -- developers will be selected this June -- and the 236-unit rental project by the Related Companies.

Bosa Development Corp., which owns seven parcels south of the channel, will break ground on its first complex, with 98 condos, this fall. It will break ground on a neighboring 319-unit condo complex in 2007, and then develop one parcel a year.

IntraCorp is also progressing with its plans. The Canada-based company recently acquired a parcel across the street from Opus West on the 300 block of Berry Street. The group plans to break ground on its 275 condo project -- divided into 17. 7 and 6 story towers, this February.

The final residential parcel -- located between Mission Rock and China Basin Street on Fourth Street -- was recently acquired up by the Fingers Companies.

The surprise bid by the Houston-based luxury home developers jolted others already developing at Mission Bay who also aggressively pursued the parcel.

"We really wanted it. It's urban, it's infill, it's entitled," said Dan Deibel, director of development for Urban Housing. "We love the area. The future of S.F. is shaping up right there."

With Fingers grabbing the last parcel, allocation of sites for private-sector residential development is now complete. The San Francisco Redevelopment Agency controls an additional nine parcels south of the channel, but can't proceed with plans to develop affordable housing until neighboring market-rate projects, like those by Bosa, receive building permits.

Lizette Wilson covers real estate for the San Francisco Business Times.
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  #230  
Old Posted Apr 16, 2005, 3:54 AM
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Excavation has begun apparently on 300 Spear.

Image by naughtyins0mniac (SSC)(Posted APR 2 2005)


The pic is from April 2, so hopefully someone could take a photo of the site now and see if there is increased activity.

Here is another rendering from SSC posted by 612bv3

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  #231  
Old Posted Apr 18, 2005, 6:51 AM
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News on the InterContinental Hotel/ 888 Howard from the San Francisco Business Times:

New financing unlocks plan for S.F. hotel
Ryan Tate




The developers behind a long-delayed $195 million Intercontinental Hotel adjacent to the Convention Center in San Francisco said they have finally landed the financing to proceed with the project.

Leonard E. Blakesley Jr., executive vice president of Continental Development Corp. of El Segundo, declined to identify his financial backers until all documentation on the deal is final. He said the cost of the four-star property will surpass the original $175 million estimate by about $20 million and that he plans a room rate "substantially in excess" of $225 per night.

Continental launched the project nearly seven years ago as a bid to turn a surface parking lot at Fifth and Howard streets into a 550-room, four-star hotel. With partner Hampshire Properties Inc. of Mill Valley, which co-developed the San Francisco W Hotel, the firm won approval from the Board of Supervisors in November 2003.

Despite those hard-won entitlements, the firm had not secured funding for the project, a tough nut when room rates at the time had fallen to $144 from $146 in 2002 and $170 in 2000, according to PKF Consulting.

Those rates edged up last year, as did occupancy. All told, the revenue per available room rose $9 per night throughout the city in 2004.

Much of the strength in the market has come from convention business, which in 2003 and 2004 produced room night bookings on par with the dot-com era. And that business, in turn, has been goosed by brisk business at Moscone West, a 300,000-square foot convention center addition that can hold smaller events on shorter notice.

The Intercontinental Hotel is slated to go in adjacent to Moscone West, positioning Blakesley said is essential to the property's success.

"Things are doing much better, otherwise we wouldn't be going forward there," Blakesley said. "That whole convention area is where the real life of San Francisco is now."

Blakesley said about one third of his guests should be conventioneers, another one third people in town on business and another third tourists. The biotech development at Mission Bay should help draw the business crowd, while tourists will like the proximity of a smattering of museums, including the Jewish, Mexican and African Diaspora museums, and the Bloomingdale's development two blocks up on Market Street.

Down the street at Mission and Steuart, Joie de Vivre Hospitality is aiming for an initial room rate of $225 to $250 per night for its four-star Hotel Vitale on the waterfront. But the Intercontinental won't open until summer 2007, Blakesley said, a year later than originally planned. By then, prices will likely have changed, and the Vitale's rate may be closer to $275 per night, the long term goal for the property.

Blakesley said he was not worried about competition from the luxury St. Regis Hotel, a 260-room property expected to open this summer on Mission Street. That five-star property is going after a different set of guests, Blakesley said.

Ryan Tate covers hospitality for the San Francisco Business Times.
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  #232  
Old Posted Apr 18, 2005, 7:33 AM
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That rendering in the top right must be OLD because isn't that the proposed hotel over the new Bloomingdales that I see off in the distance?
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"This will not be known as the Times Square of the West," City Council President Alex Padilla declared last week. "Times Square will be known as the L.A. Live of the East."

Will Rogers once said, "children in San Francisco are taught two things: love the Lord and hate Los Angeles."
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  #233  
Old Posted Apr 18, 2005, 7:45 AM
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yeah, the rendering to the upper right does appear old. this architect also designed the now dead bloomingdales hotel, so they probably wanted to save money by including both in the same shot.
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  #234  
Old Posted May 5, 2005, 4:48 AM
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update:

1160 mission street (235'/24 floors)
- received final approval from the planning commission



631 folsom (209'/ 21 floors)
- approved by the planning commission


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  #235  
Old Posted Jun 3, 2005, 3:38 AM
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anyone have new construction pics of SF's skyscrapers? it looks like the watermark has been topped off and its exterior appears to be completed. also, is the new federal building topped off yet?
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  #236  
Old Posted Jun 3, 2005, 5:42 AM
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You're right the Watermark is topped off, it still has a while to go before the inside is complete though, and last week the red construction elevator was still on the west side of the building. As for the new Fed Building, I was by it about a week ago also. It seems to be topped of, if not then its just a story away. I believe they have also start putting on some of the facade on the lower levels. Oh, lastly Bloomingdales is coming along NICELY! The Mission st. side looks great, I'm more curious about how the restored Market st. facade will look though.
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"This will not be known as the Times Square of the West," City Council President Alex Padilla declared last week. "Times Square will be known as the L.A. Live of the East."

Will Rogers once said, "children in San Francisco are taught two things: love the Lord and hate Los Angeles."
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  #237  
Old Posted Jun 3, 2005, 6:37 AM
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anyone have an update on 300 spear?
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  #238  
Old Posted Jun 3, 2005, 5:51 PM
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beatiful projects. too bad we cant have anything like this in Houston.
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  #239  
Old Posted Jun 4, 2005, 2:51 AM
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Quote:
anyone have an update on 300 spear?
It began construction according to Emporis and page one of this forum.
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Nordstrom Tower, NY 1,775 ft UC 432 Park Ave, NY 1,397 ft UC
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  #240  
Old Posted Jun 4, 2005, 3:52 AM
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^yea but does anyone have any new pics
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