Buchanan Lane, a new development of thirty (30) “single family 3 bedroom 2 bath homes in a gated community,” opened its sales office doors this weekend at 1303 Buchanan (corner of Eddy & Buchanan). Pricing currently starts at $729,000 for 1340 Eddy (a ~1,400 square foot three bedroom two bath), and according to the sales office they’re hoping to hit as high as $900K for a few of the homes post “Grand Opening” in September.
And while the interior finishes are rumored to be quite nice (limestone and granite with Bosch appliances), the starting price per square foot (~$520) relatively inexpensive (for San Francisco), and they are single family homes (not condos), we’re still struggling to see the value (based on the absolute price point, target audience, and tough location).
Also worth noting, three Below Market Rate (BMR) units will be priced at $279,000 and applications “must be received or postmarked no later than August 9th, 2007.”
∙ Buchanan Lane in San Francisco (Eddy & Buchanan) [buchananlane.com]
∙ Buchanan Lane BMR Unit Ad (pdf) [sfraaffordablehousing.org]
∙ Living in the cross fire [SFGate]