2018 Developer to Watch

BUILD was pleased and amused to see that we were named the 2018 "Developer to Watch" by the San Francisco Business Journal in their recent article by Roland Li: "2018 Residential Real Estate preview: Will home prices stabilize? Will modular construction make a difference in the cost of building housing?"

It was also interesting to read the articles other projected trends, including thoughts on the future of Oakland, modular construction, and the regulatory environment.

 

 

Source: https://www.bizjournals.com/sanfrancisco/n...

Noon Cafe opens at O&M

After some soft openings in December, the new cafe in Building O at 650 Indiana Street is now serving delicious food to O&M tenants, Dogpatch residents, and visitors to the beautiful Dogpatch Arts Plaza. 

Noon All Day is a spinoff of another iconic restaurant in the neighborhood: Piccino. Like Piccino, NOON serves Italian-inspired, locally produced meals. NOON, however, features smaller, more portable entrees (pastries, salads, soups, sandwiches) with easy counter-service, take-out, and delivery options. 

The cafe received some great opening reviews, including:

"Inside Noon All Day, Piccino's Enticing New Cafe and Restaurant" by EATER's Caleb Pershan

"Noon All Day from Piccino Team NOw Open in Dogpatch" by Tablehopper

We encourage you to stop by and enjoy the NOON's outdoor seating on the Plaza!

On-Site BMR at 830 Eddy


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BUILD is pleased to contribute to the production of affordable housing in San Francisco, by including Below Market Rate units as part of this project.  830 Eddy includes 14.6% below-market-rate units on site as part of the project, which equates to 20 affordable homes.  The units include a mixture of 3-Bedroom, 2-Bedroom, 1-Bedroom and Studios, in accordance with the unit mix of the project.  These designated units will remain permanently affordable for the life of the project. 


RELATED

News Articles re: 469 Stevenson PPA

BUILD recently submitted our Preliminary Planning Application (PPA) for the project at 469 Stevenson Street, which proposes 454 homes in a new, 35-story, residential building on what is currently a surface parking lot. Our proposal has stimulated a couple of news articles in local publications:

"Build, Vanke aim for 35-story residential tower on Mid-Market parking lot in San Francisco"

Blanca Torres, in this article from the San Francisco Business Times, describes BUILD's new project at 469 Stevenson Street. Blanca quoted BUILD's Lou Vasquez about BUILD's efforts to help address the chronic housing shortage in San Francisco as well as our ongoing conversations with the community to make sure that this will be a project that advances our mission of fostering thriving places. 

"Nordstrom Aims To Use Density Bonus To Build 35 Stories At SoMa Parking Lot"

Carrie Sisto, in this article from Hoodline, describes BUILD's new project at 469 Stevenson Street, including a discussion of the use of the state density bonus on the site to increase the total amount of housing that can be built based on the amount of on-site affordable housing. This article also quotes BUILD's Lou Vasquez regarding our community engagement process.

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Cultivating Placemaking with ULI - 10/13

BUILD's Lou Vasquez will be participating in a placemaking panel for one of ULI's educational programs in Sacramento. The program will highlight various placemaking projects from around the region and Bay Area, including programs by the City of Sacramento. The goal is to discuss what creative placemaking is, showcase projects, understand impacts on real estate, and learn how to successfully implement placemaking strategies. 

The full panel includes:

  • Kimberly Garza, ATLAS Lab Inc. (the Maker)
  • Kay Cheng, San Francisco Planning Department (the Doer)
  • Lou Vasquez, BUILD (the Builder)
  • Ash Roughani, Sacramento Mayor's Office for Innovation & Entrepreneurship (the Implementer)

For more information and to register for the invent, please visit the ULI event site.

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Source: http://sacramento.uli.org/event/cultivatin...

Katie O'Brien to discuss Development Trends at BisNow's SF Multifamily Luncheon

BisNow's annual San Francisco Multifamily Summit is on October 11th and BUILD's Katie O'Brien is one of the featured speakers. She will be part of a panel discussing development trends in a city that continues to have the most expensive housing market in the country.

Learn more about on the BisNow event page.

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Source: https://www.bisnow.com/events/san-francisc...

Concerts in the Plaza

The newly open Dogpatch Arts Plaza at BUILD's O&M project is hosting a fall concert series. Concerts are on Tuesdays and Saturdays from noon to 1pm. We encourage everyone to bring their lunch and enjoy the sun and music at this great new public space!

Also, follow #DogpatchArtsPlaza on Instagram and Facebook to stay up to date with all of the great events organized by the Friends of Dogpatch Arts Plaza (www.facebook.com/pg/DogpatchArtsPlaza).

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News Article: "City, developer cut deal to get big tower at One Oak St. built"

This San Francisco Chronicle article by J.K. Dineen details the latest development in BUILD's One Oak project, which will build 304 new homes in San Francisco and fund more than 100 permanently affordable units as well. As described in the article, a few local community members who were appealing the project have withdrawn their opposition. 

Source: http://www.sfgate.com/politics/article/Cit...

News Article: "Why developers are taking longer to lease up new apartment buildings"

In this San Francisco Business Times article, Blanca Torres reports on current leasing rates for new apartments in San Francisco. She finds that a record number of units were delivered during the last 18 months (4,000 units delivered in 2016 alone) and, as a result, leasing rates are slightly slower than previous years (buildings are averaging 16 new leases per month, compared with averages of 24 units per month between 2013 and 2015). BUILD's Lou Vasquez is quoted in the article pointing out that while it's slower than past years, units are still "going to be absorbed very quickly."

The article also points out that the San Francisco housing market remains "chronically undersupplied" and that "Bay Area housing production pales in comparison to other metropolitan areas". With conditions that continue to make it difficult to build new homes, the city will continue to feel the pressure of housing shortages.

"BUILD has leased about half of 650 Indiana St. (O&M), a 116-unit building in the Dogpatch, since May. That’s about 15 units per month — not great, but not bad — said Lou Vasquez, co-founder of BUILD."

"BUILD has leased about half of 650 Indiana St. (O&M), a 116-unit building in the Dogpatch, since May. That’s about 15 units per month — not great, but not bad — said Lou Vasquez, co-founder of BUILD."

Source: https://www.bizjournals.com/sanfrancisco/n...

DAP Mural painted

Artist Victor Reyes has completed painting the mural that encloses one side of the new Dogpatch Arts Plaza, which is wrapping up construction at our 650 Indiana project

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Victor is a painter and muralist whose work can be seen throughout San Francisco. You can see more on his website: http://reyes78.com/

The Plaza's second major art piece--"The Centaur" by Laura Kimpton and Antonio Ruperto--is scheduled to be installed before the end of September in time for the Plaza's grand opening in the first week of October.

You can learn more about the Dogpatch Arts Plaza and its community events, including an upcoming concert series, at http://www.dogpatchartsplaza.org/events-1/

News Article: "Will developers pounce on rare, 31-acre San Francisco waterfront site?"

The San Francisco Business Journal reported on the beginning of a community engagement process as the City and PG&E Corporation work toward the redevelopment of the 31-acre site of the former PG&E power plant near Hunters Point and India Basin. As reported in the article, this site is one of the last large parcels in this rapidly developing area. It is just north of BUILD's India Basin project.

BUILD's Lou Vasquez is quoted in the article commenting on the large amounts of new office space and housing that could be created in the area. 

Full article here: https://www.bizjournals.com/sanfrancisco/news/2017/08/10/pge-pcg-sf-power-plant-site-redevelopment.html?ana=e_du_prem&s=article_du&ed=2017-08-10&u=j1OE7NPYOY7l8OIqAFFhL1U%2Bghc&t=1502429125&j=78680811

(Image by Chris Carlson article on FoundSF)

(Image by Chris Carlson article on FoundSF)

News Article: "As millenials reject car ownership, developers reduce parking in projects"

BUILD's One Oak project is featured in this San Francisco Business Journal July 27th article about the reduction of parking in new development projects: "As millennials reject car ownership, developers reduce parking in projects"

As described in the article, the One Oak project--which will replace an existing parking lot--has the lowest parking ratio in a high-rise condominium project in San Francisco, with only 136 parking spaces for 304 condos. 

Source: https://www.bizjournals.com/sanfrancisco/n...

One Oak receives Planning Commission approval

On Thursday, June 15th, BUILD was pleased to receive support from the San Francisco Planning Department and approval from the San Francisco Planning Commission for our 304-unit One Oak project at the northwest corner of Market Street and Van Ness Avenue. 

The approval was covered by a number of local news outlets including the following articles: 

"SF planners OK Market-Van Ness condo high-rise" by J.K. Dineen in SFGATE (6/15/2017)

"400 million SF condo tower wins key approval despite parking fite" by Roland Li in the San Francisco Business Times (6/16/2017)

As part of the approval process, BUILD shared some of the most recent renderings of the building's design and public plaza space:

O&M - Now Leasing!

116 apartments are now available to lease at BUILD's O&M project in San Francisco's Dogpatch District. The residences were crafted to fit the character of the neighborhood, which has grown from its industrial days into a creative haven for foodies, artists, and small businesses.

The community has expansive rooftop decks with fire pits and barbeques, on-site bicycle storage, an on-site cafe from the local Piccino owners, and on-site underground parking. It is walking distance to grocery stores, shopping and restaurants; only .3 miles to MUNI and .4 miles from CalTrain, and has an new adjoining Arts Plaza with outdoor gallery and event space. 

Check out the leasing website: oandmsf.com and schedule a tour!

 

An Inconvenient Barn

As documented in this San Francisco Magazine article by Danelle Morton--"An Inconvenient Barn"--BUILD has worked closely with neighbors of our India Basin project to find win-win solutions. This article details how BUILD has spent two years working with India Basin resident Michael Hamman to incorporate his property and historic barn into the new design for the neighborhood. We are proud to have structured an arrangement that maintains the historic structure, reconnects it with the Bay shoreline, provides a more cohesive design for the development project. 

Source: http://www.modernluxury.com/san-francisco/...

Will rising construction costs choke the Bay Area's development pipeline?

In this article, the San Francisco Business Times highlights something that BUILD has been experiencing on the front lines throughout 2016: construction costs are high and rising to rates that are making development tough to underwrite.

BUILD's managing director, Lou Vasquez, helps explain in this article how first, the Bay Area lost a lot of its construction labor during the Great Recession and then, large projects such as the TransBay Transit Center and Apple's Cupertino campus have occupied huge numbers of sub-contractors and construction workers. As developers try to push forward their housing projects, contractors are in hot demand and keep raising prices. Ultimately, projects become too expensive to build and are put on ice. Ironically, as housing projects stall, rent continues to increase and the region becomes less and less affordable for the construction workers needed to build the housing (and everyone else). 

As with all market cycles, this one is likely to come down as the megaprojects finish up and the construction market cools. 

Read the full article here.

 

Source: http://www.bizjournals.com/sanfrancisco/bl...