Katie O'Brien speaking at M&M Multifamily Forum - 11/14

On November 14, California’s most prominent multifamily leaders unite at the sixth annual Marcus & Millichap / IPA Multifamily Forum: Northern California.

BUILD’s Katie O’Brien will be among 50 speakers discussing real estate trends, opportunities, and politics. Katie will be on the panel discussing Ground-Up Development, which is exploring idea and solutions to the challenge of getting projects off the ground in Northern California.

Register here: https://www.eventbrite.com/e/6th-annual-marcus-millichap-ipa-multifamily-forum-northern-california-registration-47817234636

SFBizTimes Structures Panel: 9/20

The San Francisco Business Times’ annual Structures event for 2019 is on the topic: “Towering Change: Inside San Francisco’s Building Boom.” Lou Vasquez will be speaking on the panel about BUILD’s India Basin project. The panel includes other large-scale developers in the city, including representatives from Tishman Speyer, Forest City, Lendlease, and the Port of San Francisco.

San Francisco Mayor London Breed will be giving the Keynote address.

More information and tickets available here: https://www.bizjournals.com/sanfrancisco/event/162094/2018/san-francisco-structures

News Article: CPMC set to become heart of corridor

Mary Ann Azevedo of the San Francisco Business Times reports on the March 2019 opening of the California Pacific Medical Center (CPMC) campus on Van Ness Avenue and Geary Street. This 700,000-sf hospital and adjacent medical office buildings will be transformative for the Van Ness Corridor, bringing a major influx of activity.

The CPMC is four blocks up from BUILD’s 137-unit apartment project at 830 Eddy. Mary Ann quotes BUILD’s Lou Vasquez in the article, saying “We saw that the Van Ness corridor was a likely place to need more housing, so we purchased the site and had it entitled.”

The article also mentions the Van Ness Bus Rapid Transit (BRT), which is currently under construction and will provide train-like transit service from the Marina to Market Street.

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

News Article: Height cut for 35-story residential tower

As reported by Hannah Norman in the San Francisco Business Times and by SocketSite, BUILD’s 469 Stevenson project has submitted updated plans that reduce the proposed height of the building from 366 feet down to 284 feet.

We have also released new renderings of the revised building, which is currently planned to include 468 new apartments.

News Article: SF’s India Basin residents welcome waterfront development proposal

In this San Francisco Chronicle article, J.K. Dineen explores BUILD's project at India Basin by visiting the site, talking to neighbors, and learning about the plan. BUILD is very proud of the project which, as Dineen mentions, grew out of the community vision developed by the India Basin Neighborhood Association (IBNA). 

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The article quotes a couple IBNA neighbors with whom BUILD has worked over the last several years:

Jill Fox: “What Build Inc. is proposing is an awful lot of housing. But what we are hoping is that along with that will come some things that the existing neighborhood needs.”

“Very few developers are willing to work with the neighborhood like these guys did,” Hamman said. “They actually listened to our concerns and incorporated many of them into the project. On balance, most people feel we got a good bargain.”

It also mentions strong support from local supervisor Malia Cohen and some concerns from neighbors regarding the associated density and heights that the plan includes. 

India Basin had its first Planning Commission hearing on Thursday, July 26th, where the commission unanimously approved the Environmental Impact Report and Special Use District for the project. 

Source: https://www.sfchronicle.com/politics/artic...

MTC Map: When will Bay Area Cities Reach Housing Targets?

This map, by the Metropolitan Transportation Commission, pretty much sums up the problem: we aren't developing housing fast enough!

The map compares housing production data between January 2010 and December 2017 (from the Department of Finance) to housing forecasts in the Plan Bay Area 2040 plan. Most jurisdictions are lagging the Plan’s housing goals--meaning that the region won’t reach its 2040 housing goal until 2072 at the current pace.

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Source: https://mtc.ca.gov/tools-resources/maps/wh...

News Article: How market-rate developers deliver affordable housing in San Francisco

Blanca Torres contributed this interesting Business Times article about the difficulty of creating affordable housing in San Francisco and the role of market-rate housing developers, who either include affordable housing in their projects, build it off-site, or contribute a fee to fund affordable housing. 

Market-rate developers, including BUILD, completed over 1,000 affordable units between 2013-2018. Non-profit developers completed 1,576 units during that same time. 

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The article goes on to discuss how all developers are struggling with increased construction costs and arduous entitlement processes that make it hard to finance and complete projects.  BUILD's Lou Vasquez is quoted talking about how the city isn’t doing enough to speed up market-rate projects and in the process it’s missing out on affordable units as well. SPUR's Adhi Nagraj also discusses the difficulty that non-profit developers face and how increasing costs limit affordable housing.

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

News Article: Natural Promise at city's southeastern corner

In this San Francisco Chronicle article, author Leah Garchik shares her personal tour of the India Basin shoreline with San Francisco Rec and Park General Manager Phil Ginsburg. Ginsburg shared his enthusiasm for this collection of green spaces that include 57 acres of recreational space and 1.7 miles of contiguous shoreline trail. 

BUILD has been honored to participate in the creation of this asset for this city and is excited to see it come to life over the next several years.

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Source: https://www.sfchronicle.com/entertainment/...

News Article: BUILD Plans to Replace SOMA Nordstrom Parking...

In "BUILD Plans to Replace SOMA Nordstrom Parking Lot in San Francisco with 31-Story Mixed-Use Development", Meghan Hall of The Registry describes BUILD's most recent housing development effort at 469 Stevenson Street.

As described in the article, the project is still very early in the entitlement process but represents one more way that BUILD is working to directly address the Bay Area's housing crises by providing more homes. Meghan quotes BUILD's managing director, Lou Vasquez in the article: "We have a housing crisis, the effect is purely positive in creating new housing. We are taking what is a parking lot now and putting a few hundred rental homes in its place."

  

Source: http://news.theregistrysf.com/build-plans-...

Lou Vasquez to co-chair BAC Housing Committee

BUILD's co-founder, Lou Vasquez, is honored to join Carla Boragno of Genentech as the new co-chair of the Bay Area Council's Housing Committee. Lou replaced TMG's Denise Pinkston, who had co-chaired the committee since 2016. 

The Housing Committee works to find new ways to deal with the persistent problem of insufficient housing in the Bay Area. The committee's current goals include:

  • Promote alternative and innovative solutions such as accessory dwelling units
  • Streamline regulatory barriers to get units through the pipeline faster
 BAC shows appreciation for Denis Pinkston's commitment, hard work, and passion in her role as co-chair of the Housing Committee.

BAC shows appreciation for Denis Pinkston's commitment, hard work, and passion in her role as co-chair of the Housing Committee.

News Article: "New spots opening on 6th Street..."

This San Francisco Chronicle article by J.K. Dineen highlights the new retail stores and companies that are making San Francisco's 6th Street their home. While 6th Street is often seen as a particularly "blighted" area in the city, its new businesses seem to be drawn to its "eclectic liveliness", affordability, and true "city" feel. 

New companies and restaurants highlighted in the article include:

  • Thrasher (skateboard magazine and apparel company)
  • Create Skate (skateboard store)
  • Pentacle (cafe and art gallery)
  • Rumpus Room (bar)
  • Falafel Ness (kosher Middle Eastern restaurant)
  • Chabad SoMa Shul: Positively Sixth Street (community center and synagogue)
  • Frena (kosher bakery)
  • A Nepalese restaurant by Binita Pradhan
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Source: https://www.sfchronicle.com/politics/artic...

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!

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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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/