From the San Francisco Business Times:

In a rare glimmer of optimism in the still-troubled new home construction industry, Signature Properties CEO Mike Ghielmetti has directed his contractor to pull permits for the next 20 townhouses of Candlestick Cove, a 125-unit townhouse project.

The move comes as sales traffic has picked up and Signature only has three or four units remaining out of the first 40 built. It has sold about 15 units since the last round of price cuts, which averaged between 15 and 20 percent. Together with previous price reductions, prices on four-bedroom townhouses, originally over $800,000, are now in the $500,000s.

No word on the 100-plus-unit podium buildings Signature has entitled for the Cove as well.
Signature lights up Candlestick Point [San Francisco Business Times]
Candlestick Condo Construction: Point Paused, Cove “Cautious” [SocketSite]

One thought on “Signature Cuts At Candlestick But Continues Townhouse Build Out”
  1. “Whatever it was, we have appeared to find the market, and people are coming out,” said Ghielmetti. “Construction costs have come down, interest rates have come down a little bit, and consumer sentiment — one of the great mysteries of the world — seems to be higher.”

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