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...

Can S.F. build its way out of the housing crisis?

The San Francisco Business Times explored current and projected housing construction in this recent article titled "S.F. will see more new apartments in 2016 than it has for decades. Can it build its way out of the housing crisis?"

As BUILD's Lou Vasquez helps explain in the article, while the city has produced more housing in 2016 than at any other point in recent decades, this is an anomaly that does not appear to be a lasting phenomenon and will have minimal impact on housing costs. The rent incentives being offered in new buildings are a short-term tactic to expedite initial leasing and likely will not impact the rest of the rental market. 

Read the full article here, and then the follow-up article "Will rising construction costs choke the Bay Area's development pipeline", where Lou also comments on how the region's astronomical construction costs are choking off further housing development and will contribute to much lower home construction numbers in coming years. 

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

"Rising Tides: Designing Resilient Amenities for Coastal Cities"

On September 1, 2016, Urban Land published this article about how developers on all coasts of the United States are balancing the demand for waterfront development with the threat of rising water levels. 

BUILD's India Basin project is featured for our integrated planning efforts with neighboring city-controlled Shoreline Park and 900 Innes parks and for our design, which calls for over 6 acres of terraced wetlands and open space that will provide a storm buffer, a community amenity, and native habitat improvements.

Source: http://urbanland.uli.org/sustainability/in...

"Welcome to My House: Multifamily Housing"

In this article published in the Architectural Record on 9/1/2016, John King explores the dilemma of meeting diverse demand and providing affordable housing in cities throughout the United States.

No where is this challenge more keenly felt than here in San Francisco. As mentioned in paragraph 7 of the article, BUILD has been working with our partners to explore creative solutions to these problems. King describes one attempt at our 1532 Harrison project:

"In 2013, (architect Mark Macy) worked with developer Build Inc. to conceive a 21st century market-rate version of a large Victorian house after it had been split into smaller residences: within the six-story complex in San Francisco’s South of Market district, there’d be 28 “group houses,” with 470 beds divided among 235 “suites” of under 250 square feet. Each suite would have a tiny bedroom and cooking area, while each “house” included more enticing (and code-compliant) facilities.

Think of post-collegiate dorms, or micro-units taken to the next level. But by the time the complex was approved last fall, the numbers had frayed beneath the weight of city fees geared to conventional housing and higher lending fees. What will break ground in 2017 looks the same on the outside—but inside there will be 119 conventional units, mostly studios, holding 172 bedrooms in all.

Even if governments and neighbors are willing to let experimentation reign, there are the financial hurdles. The logic behind cohousing is compelling, but conventional mortgages defined by the notion of individual ownership don’t fit a “product” that by its nature is communal. The issue isn’t whether they provide good homes—more than 150 have been developed in the United States since the late 1980s; it’s whether banks can be convinced to fund construction or underwrite mortgages of something that’s not the norm."

Source: http://www.architecturalrecord.com/videos?...

"Does San Francisco's 25 percent affordable housing requirement go too far? Early reports say yes"


August 23, 2016
San Francisco Business Times

BUILD's managing director and one of its five principals, Lou Vasquez, weighed in on the recent debate over whether the 25 percent affordable housing requirement is stunting the number of housing units being developed in the city. 

Read article here. 

The article included a table that showed how land costs per unit vary depending on the city's affordable housing requirement:

The market changes constantly and right now with construction costs so high, some deals just don’t pencil.

"Dogpatch, Potrero Hill lead by example"


July 6, 2016
San Francisco Examiner 

We are proud of our sister nonprofit organization, Build Public, for their efforts in engaging the community to create sustainable public spaces. This recent San Francisco Examiner article highlights Build Public's involvement in creating the Green Program. Build Public's Executive Director, Brooke Ray Rivera, describes the Green Program as a "hyperlocal democracy". 

Read article here.

Visit Build Public's website

"Developers offer vision for SoMa's Harrison Street"


July 15, 2016
San Francisco Chronicle

BUILD's Director of Development, Michael Yarne, quoted in the San Francisco Chronicle regarding 1532 Harrison's effect on the Eagle, an established Harrison Street small business. 

Read article here. 

 

We knew from the beginning this site was all about the Eagle. It’s so much more than just an historic gay bar. It’s an international icon, a sacred place for the leather community. Done right, development can bolster and grow the history of a place, not erase it.

"Build Inc.'s founder dishes on why new development actually helps S.F."


July 7, 2016
San Francisco Business Times

San Francisco Business Times reporter, Blanca Torres, sat down to discuss new San Francisco development with BUILD's founding partner and managing director, Lou Vasquez.

HQ: San Francisco

Number of Bay Area employees: 16

First job: Taking care of the animals at the Randall Museum during high school

Education: Yale University, Bachelor’s in Biology

Residence: San Francisco

Lou Vasquez planned to become a marine biologist, but became disillusioned with science and academia while in college. He began painting homes as a teenager, which led to repairing homes, which led to building additions, which led to building homes and then starting a contracting company in 1985. He later went to work for Trammell Crow, Greenbriar Homes, Bay Communities, Oxford Development, and Archstone Communities building housing throughout the Bay Area. In 2003, he co-founded Build Inc., which has five active San Francisco projects: 116 units under construction at 650 Indiana St., 300 units at One Oak, 116 units at 836 Eddy St., 136 units at 1532 Harrison St., and 1,240 units in a master-planned development in India Basin. Other than his college years and a stint in Paris, Vasquez has spent his life in San Francisco.

Read the interview here

 

"San Francisco's Southern waterfront readies for its transformation"


June 24, 2016
San Francisco Business Times

BUILD is working in tandem with other developers such as Strada Investment Group, The Golden State Warriors, The San Francisco Giants, Forest City, and Lennar Urban to transform San Francisco’s Southern waterfront. BUILD looks to serve the 36,000 people living nearby and 23,000 people working by the bayfront with its India Basin Project. The project aims to convert a primarily vacant site into 1,240 housing units, 200,000 square feet of commercial space, and 6 acres of public parks. The Mayor’s Office of Economic and Workforce Development’s strategy is to offer city-wide benefits with the development of the southern waterfront. BUILD's India Basin, along with the other southern waterfront development projects, will offer public benefits such as community facilities, open space, sustainability, job creation, and subsidized affordable housing.  

Read article here.

"Two San Francisco transit hotspots primed for new towers"


June 24, 2016
San Francisco Business Times

Rezoning efforts in parts of SoMa and around Market and Van Ness (The Hub) are underway, as both neighborhoods are soon to be transit rich with the Central Subway and Van Ness Bus Rapid. One of BUILD's principals and its director of development, Michael Yarne, was quoted in the San Francisco Business Times' article regarding the rezoning efforts. Yarne claims, “The Hub is a great location for towers and density.” BUILD's proposed One Oak residential tower is in the center of the Hub rezoning region.

Read article here.