In San Francisco Supply and Demand Dynamics Favor Condo Developers

Page 2 of 2

Among other developers, Trumark Urban, a San Francisco-based division of residential and mixed-use developer Trumark Companies, is pursuing development of 600 units in seven projects across San Francisco along with equity partner Hillwood West. The endeavor is expected to exceed $400 million in sales.

[contextly_sidebar id=”4b8fde50dc92c9031678fd1585c9e924″]So far the group has acquired two sites—the Dugoni School of Dentistry in Pacific Heights and 1501 Filbert in Cow Hollow—and expects to close on the remaining locations in Potrero Hill, South of Market, Inner Mission and other neighborhoods next year, said Arden Hearing, managing director with Trumark Urban.

It also started construction on the 27-unit Amero project in Cow Hollow earlier this year and will start redeveloping the Dugoni School into condos next summer, he added.

Hearing said that the developer was focused on building “semi-large-scale boutique” projects with a neighborhood focus, which it hopes to accomplish through numerous neighborhood meetings. Another part of the strategy is to counter prevailing trends.

“We’re consciously trying to stay away from where 90 percent of the residential supply is in San Francisco,” he said, referring to the Transbay and Mission Bay districts. “And 90 percent of the of the residential supply in San Francisco is for rent, and we’re purposely not there.”

 [btn link=”” target=””]PREVIOUS PAGE[/btn]  1  |  2

West Coast Commercial Real Estate News