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Lover of luxe brings lofty plan to S.F.

San Francisco Business Times – March 17, 2006

by J.K. Dineen

Don Peebles is finally getting a piece of SoMa.

The Miami-based luxury hotel and condo developer, who has been aggressively bidding on properties in San Francisco for a year, will pay $20 million for 250 Brannan St., the brick-and-timber former Gallo Salame meat plant most recently used for dot-com offices.

Peebles said he will invest another $30 million to convert the 104,000-square-foot office building into 54 ultra luxe Soho-style lofts and multilevel townhouses that he promises will "introduce a new standard for loft living in San Francisco and the Bay Area."

…

The 250 Brannan project will feature high ceilings — up to 32 feet in some units — floating staircases, private terraces, built-in cappuccino machines, wine cellars, gyms, screening rooms and darkrooms, he said. The two-level custom penthouse will have a "spectacular solarium" and will not be priced. The smallest units will start above $800,000 and the townhouses will be priced in the $3 million range, he said.

[more]

310 Townsend St

Pricing to be released June sometime.

Completion scheduled for Mid October.

All units with primary reservation at this point and 2/3rds to 80% have backup reservations.

Putting on the Ritz

New project’s pricey condos and ‘fractional’ units go quickly
San Francisco Business Times – March 10, 2006
by JK Dineen

The thirst for ritzy downtown condos in San Francisco appears to be insatiable.

Coming on the heels of the quickly sold-out St. Regis project, buyers are chomping at the bit for units in the Ritz-Carlton Club and Residences project at 690 Market St., a joint venture between the Ritz-Carlton and Alameda-based developer Jim Hunter.

In the first five days since the developers started accepting reservations for the 101 units in the old Chronicle Building, would-be Ritz-Carlton clubbers have plunked down 60 reservation deposits for a piece of the 1890 building, according to Robert van Dijk, the project’s director of sales and marketing. Of the 60, 18 are for condos, and 42 are for monthly slots at the project’s fractional ownership units. Owners of fractional units pay $200,000 to $300,000 for a one-twelfth, deeded interest.

All potential owners who have put money down on a private residence, have also reserved a fractional share, said van Dijk.

“They are looking at the fractional shares and saying, ‘this will be my guest house.’” said van Dijk. “These are individuals used to having a guest house.”

In order to reserve a condo, a prospective buyer must put down $100,000 for a one-bedroom, $150,000 for a two-bedroom, $200,000 for a three-bedroom, or $250,000 for a penthouse. The building’s four penthouses are already reserved, although reservations are refundable until May 20. At that time buyers will have to put down 10 percent for their units, which are expected to fetch between $1.1 million for a one-bedroom and upwards of $5 million for a penthouse.

[more]

188 King St

Units to start at $899k

Pricing will be set around April 1st. Move-in for early summer.

188 king is a boutique building across the street from AT&T Park with 16 foot ceilings and large windows. Floorplans from 900 sf to 2200 square feet.

Being Sold by San Francisco Marketing

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Palms Second Release Expected This Week

www.thepalmssf.com

Second Sales Release is expected this week! Get on the list for the second release – Contact The Choey Group Now.

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Three more Oakland highrises planned

Scurry to set plans before Mayor Brown leaves town

San Francisco Business Times – March 3, 2006 by Ryan Tate

Heeding Mayor Jerry Brown’s call to exploit the final months of his pro-development tenure, developers have filed preliminary applications for three more Oakland highrise projects — two of them taller than any residential building now standing in the city.

The tide of applications signals that developers believe the city’s highrise housing boom has legs. While there are now at least 15 such projects in the development pipeline, only one is under construction, and there has been uncertainty over whether the others will ever get built. Construction costs have spiraled up sharply over the past two years and there are plenty of signs the residential real estate market is cooling nationally.

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The tallest proposed new downtown condominium tower would rise 372 feet at 250 12th St., at the edge of Chinatown. The building would hold 205 condominiums on 30 floors, according to preliminary plans submitted to the city. An architectural “wing” inflates the height of the building; the top roofline is at 319 feet. The developers are Golden Harvest Co. out of San Leandro and architect Yui Hay Lee.

Another tower, rising 19 stories, would also sit at the edge of Chinatown. Developer KH Associates is planning 356 residential units and a hefty 36,000 square feet of retail at what is now a surface parking lot at 226 13th St.

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Former San Francisco Planning Director Gerald Green is helping a development team that wants to put a 318 foot, 32-story condominium tower near the heart of the Lake Merritt district and just a few blocks from Forest City‘s Uptown residential development. On 19th Street near Harrison Street, the development needs an environmental impact report because the existing building is an historic structure, according to city planning staff.

A few blocks up Broadway, near the Oakland Auto Center car dealership site, developer Ted Dang expects to soon enter into a contract with a national homebuilder for several hundred units of housing on what is now a parking lot. Dang had put the lot under contract to Olson Co., but said recently he does not expect that deal to close.

more

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170 Off Third Sales

Sales for 170 Off Third (actually on King right across from AT&T Park) is rumored to be in April – May.

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The Lansing – Update

A little over 30% sold at this point – sales are expected to accelerate as more units and common areas are being completed. The common areas like the lobby pictured above is well done and sophisticated.

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“Eastern SOMA” Area Plan

The San Francisco Planning Department recently hosted a workshop concerning the continued replanning of a subset of South of Market called “Eastern SOMA” – an oddly shaped area consisting of 2 areas connected by a corridor centered around Shipley St. The 2 areas are generally centered around South Park as well as 6th and Folsom (see the picture above).

If this rezoning ever gets approved and implemented, it could mean huge changes to the area with a majority of it being rezoned from M-1, M-2 to Mixed Use Residential, height restrictions being increased in many of these areas an average of 15 feet, and new boulevards being created on Folsom, 2nd, and 7th streets.

Here’s the Workshop Handout (PDF file ~ 10MB)

http://www.sfgov.org/site/uploadedfiles/planning/Citywide/pdf/soma_2_06_workshop_handout.pdf

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