Thank a change in state legislation (allowing for 3% non-refundable pre-construction deposits) for the boom in new development sales centers slated to open this spring/summer. One such sales center, the 9,000-square-foot, $2.5 million sales center for One Rincon Hill, will feature “a fully appointed, two-bedroom model apartments [sic] with lightboxes simulating views both night and day.”
In total, sales centers representing at least 2,700 new condos should open within the next six months. Included in the mix:
170 Off Third – 198 condos
255 Berry (open) – 99 condos
The Arterra – 268 condos
Broderick Place (open) – 70 units
The Hayes – 128 condos
The Infinity – 650 condos
One Rincon Hill – 695 condos
The Palm (open) – 300 condos
Park Terrace – 110 condos
SoMa Grand – 246 condos
Expect a market in pre-construction speculation to emerge (something to keep in mind when a development touts “Half Sold Out!”).
∙ Condo projects selling first, building later [bizjournals]
∙ San Francisco Perspective: Condominium Developments [SocketSite]
∙ QuickLinks: Building Up [SocketSite]
You can add 188 King Street as another South Beach property opening up this summer. They just sent out an email alerting prospects that tours will begin on May 5th!