There was a recent post on Socket Site that covered the highlights from The S.F. Planning Commissions Second Quarter Pipeline Report. The short version is there is a TON of new housing either being released, built, or in approved stages. Whether your are a renter or an owner, you should be VERY interested in how this could affect your pocket book. Here’s a quote form the post:
“Roughly 1,500 new housing units were built and hit the market in San Francisco over the past four quarters. At the same time, commercial space in the city declined by 187,000 square feet as 172,000 square feet of existing space was converted to residential use.
Today, there are nearly 4,900 more new housing units under construction in San Francisco, most of which are market rate and will hit the market over the next year, numbers which shouldn’t catch any plugged-in people by surprise.
Building permits for another 4,000 units having been approved and permits for another 3,800 units have been requested, a total of nearly 8,000 more housing units on top of those already under construction and which should start hitting the market in two to four years.
Another 28,000 housing units have been approved to be built by Planning which includes 10,500 units by Candlestick, 7,800 units on Treasure Island and 5,680 units in Park-Merced, projects which still have timelines measured in decades, not years.
And with plans for an additional 7,000 housing units on the boards, San Francisco’s total Housing Pipeline currently totals over 48,000 units. For context, around 12,000 housing units have been constructed in San Francisco since 2007; 26,000 new units constructed since 2000.”
Interesting stuff. You can download a copy of the full Pipeline Report by CLICKING HERE
