At least six listings for the new San Francisco Ritz-Carlton Club and Residences (690 Market) have been added to the MLS. Occupancy is currently slated for November 2007 with 1/12th deeded fractional interests starting at $210,000. And if you’re not in the mood to share, perhaps we might be able to interest you in the $5,420,000 penthouse that’s being offered as “shell space enabling the buyer to fully customize the interior” (which we love).
I would love for this development to be the real start of a “cleaning up” of the area around Market Street between, let’s say 3rd and 8th St. I know, that’s a lot to ask, but it just seems like that entire area is being absolutely wasted when it could be one of those glorious streets like in other major cities that residents and tourists alike love to walk up and down (e.g., Michigan Avenue, 5th/Madison Avenue, etc.)
I’m keeping my fingers crossed.
The stretch of Market St. that the Ritz Carlton is on is fine. It’s Market St west of San Francisco Centre (ie, west of 5th St.) which needs cleaning up.
Agreed……but I’m hoping that this development will kickstart further cleaning up, along with the opening of the Westfield, along that corridor (including the western portion). When walking west from 5th Street along Market, as the street numbers increase, so does your anxiety level and that has to be bad for commerce generally.
Stay east of 5th and you are good. Problem with 6th and the streets west is those streets run smack into the nasty part of the Tenderloin. And that is not going away, ever…North of 3rd and 4th is downtown offices which is not great but you don’t have the issues associated with the area around the warfield. As I have said in past posts, just drive down 6th and towards Nob Hill and you will see quite a sad show if you pay attention.
I can’t really disagree with the last poster’s point about how the Tenderloin taints the area below it around Market Street.
So the bigger question is, because of the relative proximity between 3rd and Market and 5th/6th and Market, why would anyone want to make a sizable investment in a residence there or right around there if they are constantly going to have to wade through the less than optimal surroundings that pervade the area west of 5th?
I certainly would not and it wouldn’t make me feel any better if a broker or other sales person said, “oh, don’t worry, if you stay east of 5th Street, you’ll be just fine.” My response would be, “What is this, West Side Story?”
I hope prospective buyers are aware that there’s a particularly bad sax player who haunts that neighborhood between 4 and 5:30 every day. Right now he’s playing Take Five for the eighth time today and the 3,000th time this year. I’ve had to listen to him from my office for seven years.
Ha ha….is this the same guy who used to play the Godfather theme non-stop?
Yes! He played it about 10 minutes ago. He’s experimenting with Christmas songs right now. He’s quite famous for having absolutely no timing.
Speaking of distracted, that’s exactly what the developers of this project are hoping that prospective buyers will be when they are deciding whether or not to buy. It seems like people regularly bash the Rincon Hill area as being a parking lot of pollution spewing cars waiting to enter the Bay Bridge, but if we’re comparing Rincon Hill to this portion of downtown SF in terms of neighborhood appeal….it’s not even a close call.
but if we’re comparing Rincon Hill to this portion of downtown SF in terms of neighborhood appeal….it’s not even a close call
You’re right, this area is much better. And this building will make it even better.
“You’re right, this area is much better. And this building will make it even better.”
LOL………
I’m just glad to see the facade of the Chronicle building restored–it’s going to be quite nice. Now that the ugly aluminum siding from the 60’s has been stripped, you can began to appreciate the decorative sandstone and brick, even if it is quite dirty for the time being. This building has the potential of being quite a gift to the street, and will make a big improvement on the somewhat run-down stretch of Kearny by Market.
I think buying around 3rd Street is a fine investment. As long as you have an attractive destination one way out of your house and are not right on top of some shady area I think that is all you can ask for in SF. I live on Russian Hill and almost always head towards Polk Street to go eat, buy groceries, ect. Although NB is over hill and perfectly fine place, I almost never walk that way because Polk is so much more convenient. So if the Tenderloin was over the hill, it would not really bother me (except for possible mayhem creep but that is another post…) A buyer does not want to have to deal with the ghetto right outside their door (a long one block barrier would be a minimum for me).
Has anyone posting about how bad the area is actually walked past that area in, say, the last 20 years!? Besides the traffic, it’s a perfectly fine place. It just can’t be compared to the tenderloin.
I seriously doubt that this building will do anything to help improve the area, if they are selling the units as fractionals. Apartments which are occupied by wealthy people from out-of-town who arrive in limos one day per week is not going to help anything. Just look at the Four Seasons and the St Regis.
Just look at the Four Seasons and the St Regis.
OK, let’s. The Four Seasons has a nice walkthrough to the YB gardens, is next door the new Westfield mall, with Bristol Farms, a nice food court, Straits Cafe, etc. 2 blocks from Union Square, etc.
The St. Regis is across the street from the YB gardens, next door to the SFMOMA and MOAD. Across the street from a wine bar, a Peets, and AG Ferarri. 2 blocks from the Westfield, 2 blocks from WF, etc.
These are getting to be very nice urban areas.
For that matter…
The Ritz is a half block from Union Square and two blocks from the new Westfield center.
This is the new place to be. The buyers of The Ritz, St. Regis and Four Season have made good investments. They are seeing and will see some great return. These highend projects are wonderful for SF too. It’s a win/win.
The workers restoring this fine building is being bullied by Ritz’s Regional Vice President of Development Management, Marty Breen and his band of henchmen. He has not only made verbal threats, but also physical threats at the jobsite. There is no reason to yell and use the F word when talking to the workers and consultants. The Ritz Carlton should investigate the actions of these individuals who is using the Ritz Carlton power to intimidate the workers. I would hope that if the Ritz Carlton really knew what was going on here, they would send Marty down the road.