San Francisco Housing Market Surprises

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Holliday is in the process of selling the last available units of the 137-condominium development at 5800 Third Street in the city’s Bayview neighborhood in the southeast quadrant.

The panelists collectively agreed, whether for-sale housing or apartments, the Mission is one of the hottest neighborhoods in the city. Given the choice of having a new 200-unit Class A apartment or condo building in Mission Bay, South of Market, the Mission district or the Outer Sunset and Richmond districts, which would you prefer, Tao queried.

The Mission, responded Holliday, Mark and BRE Properties Chief Executive Connie Moore. “There is great food and everyone wants to be there, particularly for rentals,” she said.

“The graffiti and all of that stuff doesn’t bother you,” asked Tao, who has built more than 900 apartments and condos in the city’s SoMa, Mission and Dogpatch neighborhood south of Mission Bay.

“That’s the edge,” Moore responded.

San Francisco-based BRE, which is building and owns apartments Bay Area wide, plans to start construction this quarter on 360 apartments in Mission Bay, where rents are rising faster then the company’s pro forma, Moore said.

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