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Blog Archives: March 2016

HVNA Calls For More Below-Market Units, Zero Parking At Future Flax Development

March 22, 2016
Flax Art & Design is officially closing tomorrow, and details of the residential development that will replace it at Market and Valencia have already come to light. The response to the latest rendering of the nine-story, 162-unit building (pictured above) has been mixed. In comments on our last post, readers questioned the new facade, the ground-floor retail space and the height. But the Hayes Valley Neighborhood Association (HVNA) has taken things a step further, penning a letter of response regarding the development. In the letter, the ...

Opponents blast big Mission project despite affordable housing land deal

March 22, 2016
Activists in the Mission continue to oppose a large housing proposal even after the developer agreed to donate a third of the block-sized parcel for affordable housing. Source: SF Business Times 3/16/16 http://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/03/mission-housing-moratorium-affordable-sf-podell.html?ana=e_du_prem&s=article_du&ed=2016-03-16&u=Byu9E9v%2Fzwcvg%2BqbgHtX%2BA0c8748e7&t=1458166841&j=71484612  

Planning Commission Approves Controversial, Massive Mid-Market Residential Development

March 22, 2016
Known for its downtown office buildings from the towering 50 California to the Market Square/Twitter building, real estate investors the Shorenstein Organization received Planning Commission approval yesterday afternoon for their first residential project: 12 stories of development comprising 304 units on Jones Street and Golden Gate Avenue in a complex with an outcropping (and main address) at 1066 Market Street. The current site is a surface parking lot. The project, Socketsite observes, would meet but not exceed the legal 12 percent ...

Supervisors Kim and Peskin Introduce BMR Grandfathering Legislation

March 21, 2016
This week we got our first look at what the grandfathering from the 25% BMR increase on June’s ballot would look like.  Here’s the scoop: 1.  If a project’s environmental application was submitted prior to 1/1/14, the inclusionary requirements are: 13% on site 25% offsite/in-lieu fee 2.  If the environmental application was submitted prior to 1/1/15, the inclusionary requirements are: 13.5% onsite 27.5% offsite/in-lieu fee 3.  If the environmental application was submitted prior to 1/12/16, the inclusionary requirements ...

In Bloom at Golden Gate Park

March 18, 2016
Golden Gate Park is home to 1,017 acres of sprawling gardens, trails, playgrounds, lakes and more. Welcoming over 13 million visitors each year, the park is one of San Francisco’s most popular natural destinations to explore and get lost in. While the park itself never stops blooming, the grounds especially come to life in mid-March,  during the peak of spring season,. If you have an appreciation for gorgeous flowers and beautiful, lush landscaping, consider venturing over to Golden Gate Park this month. To help you plan your next visit, ...

Fed leaves interest rates unchanged, sees only two hikes in 2016

March 18, 2016
WASHINGTON (MarketWatch) — The Federal Reserve held interest rates steady Wednesday and signaled it will lift them more slowly than previously indicated because of a weak global environment and volatile stock market. The Fed said in a statement said its rate-setting Federal Open Market Committee decided to leave the central bank’s benchmark interest rate in a range of 0.25%-0.5%. The decision was widely expected. The big change was in the Fed’s so-called “dot plot,” where officials penciled in only two quarter-point hikes this year, down ...

Update: Affordable Housing Ballot Initiatives Debated by Board of Supervisors

March 01, 2016
2016 has started with a bang as the City debates competing affordable housing initiatives proposed for the June 7 election by Mayor Lee and by Supervisor Kim. The Mayor’s proposal would require the Planning Department to conduct an economic feasibility study and make a recommendation to the Board of Supervisors within nine months of the effective date of the legislation, and then no less than every 24 months moving forward. The Kim proposal would increase the affordable housing requirement set by the City Charter from 12% to 25%, with 15% of ...