Next "it" neighborhood at the Hunters Point Shipyard

From 7x7 Magazine,

Starting on Saturday, June 7, 2014, the Welcome Center will be open on weekends from 11 a.m. – 6 p.m. and weekdays by appointment only after 3:30 p.m. The Downtown Sales Center will be open seven days a week from 11 a.m. – 6 p.m.; shuttle service will depart downtown at 3:30 p.m. for tours of The San Francisco Shipyard on select Tuesdays and Thursdays. Potential buyers who wish to schedule an appointment can e-mail info@thesfshipyard.com or call 415-383-5500.

Hunters Point Shipyard transformation in home buyers' hands

From SFGate,

With the wooden frames of 88 town houses and flats marching up the hillside off Innes Avenue, Lennar is putting the final touches on its "welcome center": a 3,500-square-foot industrial chic modular building with a fireplace, comfy seating and an expansive deck overlooking the bay.

More at SFGate.

Schlage Lock Deal Moves Ahead

From SFGate,

An agreement calling for construction of a neighborhood of nearly 1,700 low- and middle-income apartments and condominiums - along with a couple of parks, a restored and repurposed community building, and a long-promised grocery store - will be announced Monday by Mayor Ed Lee and Supervisor Malia Cohen. 

"At long last the 20-acre Schlage Lock site, one of the largest available housing development sites in our city, will be reborn and transformed from an old rail yard and factory into a new mixed-use community in Visitacion Valley," the mayor said in a statement.

Sneak peek: Mayor Ed Lee has a housing solution

From SFGate,

Lee will propose a seven-point plan that includes building housing over existing city facilities and doubling the amount of down-payment assistance that the city will provide to middle-income home buyers, up to $200,000. Lee wants 5,000 new homes built or rehabilitated each year over the next six years. 

With the city's economy growing, construction is already speeding up. This year, more than 10,000 housing units are under construction or are holding building permits and are ready to be built, according to city figures. Another 12,000 units are in the permitting pipeline, with an additional 25,000 part of already adopted development plans, Lee's administration said.

The Renderings For The Corner Of 8th And 16th Streets

1150 16th St at 8th St

According to Socket Site, the latest drawings for the new four-story building at the corner of 8th St and 16th St have been released.

To me, it looks like every other condo building that's being built in the city right now, but what're you gonna do?

I wonder how long Wolfe's Lunch can hold out where they are?

1000 16th St at 7th St

Look for this whole area to change with the addition of this and the redevelopment of the corner just down the street at 7th and 16th Sts, where we hope to one day see Daggett Place rise from the lot that has remained a vacant blight for well over a decade.

Candlestick Cove BMR Public Workshop

See the flyer for the FREE Below Market Rate (BMR) Public Workshop.

BMR Condo offered for $322,029 through the Mayor's Office of Housing BMR Program

4-bedroom home located in the Candlestick Point area of San Francisco

Workshop Details:
Tuesday, January 24, 2012
7:00-8:00 PM
Mission Cultural Center
2868 Mission St., SF
RSVP 415-495-4663

Applications can be downloaded or requested by phone or email:

1. Log on: www.homebricks.com
2. Call 415-495-4663, option 133
3. Email candlestickcove@homebricks.com

S.F.'s Bayview institutions reflect past, future

From SFGate, a companion piece to something I found yesterday in Dexigner,

One neighborhood. Two institutions, both serving seniors, one representing the past, the other signaling the future. At the Bayview Hunters Point Adult Day Health Center, the mostly African American clientele talks about coming to San Francisco from the South, how the Hunters Point Naval Shipyard attracted many to the area, and the history of the neighborhood. The center, established in 1974, has a reputation as a caring place where seniors, many of them poor and some without families, come for companionship, activities, meals and medical care. Along with the other adult centers in the state, it was informed it would no longer receive state funding because of the budget crisis and would have to close its doors July 1. The centers have since won a reprieve until Sept. 1, and a lawsuit has been filed claiming the closures represent a violation of federal disability protections.

Read more at SFGate

Video at http://sfg.ly/re3nvh

Multi-Generational Affordable Housing in San Francisco

From Dexigner,

In SF's Bayview District, David Baker + Partners designed affordable (for purchase) urban townhomes to help keep growing families in the city, with senior (rental) apartments next door to prevent seniors from living in isolation. The entire project is adjacent to the Third Street Muni Rail line that connects the complex to the rest of the city.

This complex development fills a formerly industrial city block with an innovative housing mix: Affordable urban townhomes to keep growing families in the city and family housing adjacent to senior apartments to prevent seniors from living in isolation. Leading a trend of transit-oriented development along the district's main business corridor, the development lies just a block from a stop of a new light-rail line, a park, and a health center.

Read more at Dexigner

Hard-Pressed Homeowners Facing Another Financial Threat

From the Bay Citizen,

Estrella Bryant was at risk of losing her San Francisco town house last year.

A foreclosed home for sale at Eden Shores, a development in Hayward where roughly half of the 500 tract homes are in some stage of foreclosure.

Ms. Bryant, 70, had not fallen behind on her mortgage payments. Instead, she owed $560 in dues to the Parkview Heights Homeowners Association. The association turned over the case to a collection agency and threatened to foreclose unless Ms. Bryant paid off her debt, which increased tenfold because of fees and interest.

“It’s been a nightmare,” said Ms. Bryant, a Filipina immigrant who lives on Social Security and occasional bookkeeping jobs. She said she repeatedly asked Parkview Heights representatives why she was dealing with a debt collector instead of the association.

More at the Bay Citizen

San Francisco Housing Market Back on Track

From the Real Estate Channel,

San Francisco, CA

All-cash buyers and a fresh wave of investors are stimulating the San Francisco housing market.

Home sales activity in San Francisco is returning to a healthy pace, according to the latest Market Focus report issued jointly by the Rosen Consulting Group of Berkeley, CA and the San Francisco Association of Realtors.

The report finds that by some estimates, all-cash buyers represent 20-30 percent of homebuyers in the San Francisco market; resulting from more stringent mortgage lending practices, as well as a growing demand for investment opportunities as yields for many common investments remain unattractive.

Single-Family Sales Rise by 20.7 Percent Year-Over-Year in January 2011

Completed single-family home sales in San Francisco rebounded during the month of January by 20.7 percent.

Read more at The Real Estate Channel

Single-Family Sales Rise by 20.7 Percent Year-Over-Year in January 2011

From Business Wire,

Completed single-family home sales in San Francisco rebounded during the month of January by 20.7 percent. Year-over-year single-family home sales rose at a noticeably accelerated pace in Districts 2 (Inner Sunset, Central Sunset, Outer Sunset, Parkside, Inner Parkside, Outer Parkside, and Golden Gate Heights)—72.2 percent and District 10 (Potrero Hill, Central Waterfront, Dogpatch, Bayview-Hunters Point, Bayview Heights, India Basin, Silver Terrace, Candlestick Point, Visitacion Valley, Little Hollywood, Sunnydale, McLaren Park, and part of Portola)—46.7 percent where the median sales prices in January 2011 were $619,000 and $414,250, respectively. Pending single-family home sales also increased by an impressive 37.5 percent year-over-year in January 2010, leading the Rosen Consulting Group to believe that the upward trend observed in property sales should continue at least through the early part of 2011.

At the current pending sales rate, this equates to a 2.9 months of supply inventory. By price segment, the months of supply inventory for homes priced less than $700,000 remains narrow at 2.3 months, while homes within the $700,000 to $1.2 million price range had 3.6 months and the supply of homes priced greater than $1.2 million edged upwards slightly from January 2010 to 4.6 months.

Lennar Bets on Ex-Officer Housing ‘Party’ as California Rebounds

From Bloomberg News,

Emile Haddad, a former Lennar Corp. executive, sold 12,000 acres in California for a $277 million profit at the housing market’s peak four years ago. He and his partners then reacquired it at half the price in 2009. Now, Haddad says, it’s time to build.

Haddad, chief executive officer of FivePoint Communities Inc., is developing four new master-planned communities with a combined 45,000 residences, two in the Los Angeles area and two in San Francisco. Construction of the first homes is scheduled to begin in the second half of this year. Investors including Lennar, Michael S. Dell’s MSD Capital LP, Ross Perot Jr.’s Hillwood Development Co. and Rockpoint Group LLC are banking on the projects as the state emerges from a five-year housing bust.

Read more at Bloomberg

District 10: 2009 vs 2010 Median Price and Price Per Square Foot

Matt Fuller of Jackson Fuller Realty writes, 

% Change

 In comparing values in 2010 to 2009, only 2 (real estate district) D10 neighborhoods saw an increase in median home price, and that was in Bayview and Bayview Heights.  All of the other neighborhoods were down, with Mission Terrace being just slightly down (-1.5%) and Hunters Point being substantially down (-46.5%).

Price/Sq Ft

The least expensive D10 neighborhood was Hunters Point, with a median price of $110,000, while Mission Terrace came in as the most expensive with a median price of $571,500. If we try and attempt to adjust for difference in average size by neighborhood and look at price per square foot (which has other issues, as I’ve discussed), then we see the exact same results with Mission Terrace coming in at $459 per square foot and Hunters Point coming in at $94 per square foot.

District 10 has never been known as housing expensive neighborhoods, but I do think that these neighborhoods are where San Francisco has seen some of the greatest impact from the fallout of predatory and just-bad-idea loans that have led to a significant number of short sales and REO properties.

For real estate district D9, which includes political D10 neighborhoods Potrero Hill, Dogpatch, Matt Fuller writes the following,

S.F. board vote could ease student housing crunch - SFGate

Robert Selna writes,

Building student housing in San Francisco may become a more attractive option for developers if, as expected, the city approves new rules that would make it cheaper to create residential developments for colleges and universities.

The ordinance lifting the affordable housing fees is the brainchild of the Housing Action Coalition, which advocates for creating more housing in the city.

Tim Colen, the organization's executive director, has been working on developing the legislation for two years after he was approached by the tiny American College of Traditional Chinese Medicine, which enrolls 300 students and whose main campus is on Arkansas Street in Potrero Hill. He soon learned that other colleges - large and small - had housing shortages.

Read more at SF Gate