Purchased for $1,400,000 this past December having been listed for $1,800,000, the buyers of the 12,000 square foot Potrero Hill parcel at 98 Pennsylvania Avenue have drafted plans to construct a five-story residential building on the irregularly shaped site which currently serves as a parking lot.
The draft plan for the parcel includes 45 units over an underground parking garage with space for 36 cars and 22 bikes.
Bounded by the elevated I-280 Freeway along the northeastern and eastern borders of the site and 17th Street to the south, you can bet there’s at least one group who wouldn’t mind if the conceptual plan for razing I-280 north of 16th Street was extended a few blocks to the south.
∙ A Bold Plan To Tear Down I-280 North Of 16th Street In San Francisco [SocketSite]
It’s right next to a freeway, and they still don’t have as many parking spots as units? Well, at least San Francisco has a Transit First policy and amazing public transit, right?
The pollution (noise, air quality) factors associated with living so close to a freeway is going to be a non starter for many. I can’t see the appeal…
I worry that all of this land will be developed prior to the development of any freeway-related plans or the construction of new train tunnels. It could seriously constrain any new infrastructure if all of that property is built up now.
@Willow: it’s sad to say but if given the opportunity to buy a shack on stilts in the median of a 20-lane freeway many folks would jump at the chance…and go over the asking price…if only for boasting rights that they own property in SF. Gimme a high five!
Just a little Friday night sarcasm thrown in there. But seriously, I know people who are frantic to own anything in the city.
UPDATE: Exemption for 46-Unit Potrero Hill Development Secured