Our take on the Planning Department report

Paragon has analyzed the new 36-page San Francisco Planning Department’s third-quarter pipeline report for both residential and commercial projects and have produced a “Highlights” report of our own.

Something to keep in mind: the construction pipeline includes projects in every stage of the approvals, permits and construction process. Being listed there doesn’t indicate when or even if a given project will reach completion, since changes and additions to the pipeline are ongoing. Big projects are seemingly an everyday announcement lately; economic and political changes alike can also have huge impacts.

A few bullet points we thought worth highlighting:

  • The current pipeline includes 50,600 residential units: condos, houses and apartments as well as affordable and social-project housing. Far less than 1 percent of the pipeline is made up of houses.
  • In addition, 18.7 million square feet of commercial space are in the pipeline. This includes office, retail, medical, hospitality, cultural and institutional uses. Of that amount, 12 million square feet are for office use.
  • The past year has seen 3090 residential units and 280,000 square feet of commercial space added to the pipeline. For these projects, median time to completion from first filing was 43 months. Smaller projects of less than 10,000 square feet saw median times drop to 30 months.
  • Currently under construction are 6700 new residential units and 5.4 million square feet of commercial space.
  • A little more than 25,000 of the pipeline’s residential units are comprised of the Bayview/Hunter’s Point Candlestick, ParkMerced and Treasure Island projects.
  • Most of the rest of the residential as well as commercial pipeline projects are clustered in the greater South Beach/South of Market/Mission Bay areas as well as the Market Street corridor, Potrero Hill/Dogpatch area and the Mission District.
  • Existing pipeline development threatens approximately 800,000 square feet of manufacturing, distribution and repair use space.

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com

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