With proposals for over 3,000 units of housing having been submitted to the City in the fourth quarter of last year, San Francisco’s housing pipeline now totals a record 62,000 units, including 8,700 units which are already under construction and should be ready for occupancy within the next year or two.
In addition to the 8,700 net-new units of housing under construction in San Francisco, there are another 12,900 net-new units for which building permits have either been issued, approved or have been requested, which is double the number from the quarter before, and 23,100 units in projects that have been approved but not yet permitted (which does include 10,500 units by Candlestick, 7,800 units on Treasure Island and 5,680 units at Parkmerced, projects which have overall timelines measured in decades, not years).
And with proposals for another 17,900 units of housing being reviewed by the City’s Planning Department, San Francisco’s Housing Pipeline now totals 62,000, which is up from 59,000 in the third quarter of last year and 50,400 in the fourth quarter of 2014, of which 8,900 will be below market rate (BMR).
At the same time, demand for the current crop of new construction condos in San Francisco has slowed and at least one index suggests that prices have been dropping for the past five months and are approaching year-over-year declines in value.
Article and images sourced from http://www.socketsite.com/archives/2016/02/a-record-62000-units-in-san-franciscos-housing-pipeline.html
No comments:
Post a Comment