New Construction in San Francisco- 62,000 Housing Units On The Pipeline

San Francisco’s housing pipeline totals a record of 62,000 units now. This number includes  proposals for over 3,000 units that have been submitted to the City in the forth quarter of last year and 8,700 units which are already under construction and should be ready for occupancy within the next year or two.

In addition, there are another 12,900 net-units for which building permits have either been issued, approved or have been requested, which is double the number from the quarter before. 23,100 units are in projects that have been approved but not yet permitted. These are large, long term projects that may span decades, such as Candelstick, Treasure Island and Parkmerced.

Finally, there are proposals for another 17,900 units of housing being reviewed by the City’s Planning Department.

Out of the 62,000 new construction units, 8,900 will be Bellow the Market Rate ( BMR’s).

At the same time, demand for new construction condos in San Francisco has slowed and sone indexes suggest  year-over-year slight declines in value.

 

Source: SocketSite.com