Shorenstein Properties has filed preliminary plans to build a 12-story residential building designed by Bernardo Fort-Brescia of Arquitectonica on a parcel which fronts Market Street between Jones and Taylor but is primarily the parking lot on the southeast corner of Jones and Golden Gate Ave.
The proposed 1066 Market Street development includes 301 apartments with 111 two-bedrooms, 55 one-bedrooms, and the rest a mix of studios and “junior ones” according to the Business Times.
In addition to the apartments, preliminary plans include 2,000 square feet of new retail space along Market Street and 3,500 square feet of (legal) “active use” along Golden Gate Avenue and Jones. Parking for 112 cars would be built underground.
Good. Now give the developer another ten floors and make them large middle income homes and be part of the change. Nothing will change otherwise with the affordability crisis in San Francisco..
So new devs are still being put together as apartments for rent? I’m surprised, cause during last run up, it was all about for sale condos. I’m sure there’ll be mapped condo, but the plan to hold and rent them is frankly surprising. I guess at $4-6 per sq ft in rental income, new construction pencils in?? Any of you pro forma freaks want to run some new construction costs >> keep as rentals and see if this makes sense ROIwise?
fantastic, hopefully shorenstein concedes a good number of affordable units in order to get into mayor lee’s ‘fast track’ and this can get built before 2019-2020. build a retail wrap around jones and golden gate, reactivate that market street frontage with retail, bring in those 500+ people, architectonica design = shorenstein has almost unintentionally backed into being one of the most progressive developers in the city.
Um, 12 stories is a mid-rise, not a “tower”.
UPDATE: In addition to the 301 proposed apartments, preliminary plans for the development include 2,000 square feet of new retail space along Market Street and 3,500 square feet of (legal) “active use” along Golden Gate Avenue and Jones. Parking for 112 cars would be built underground.
“Um, 12 stories is a mid-rise, not a “tower”.” -anon
Sure it’s a tower. There is no single definition of what constitutes a highrise (or “tower”), but many definitions used do consider a 12 story building to be one, and some even count shorter buildings as highrises. Look it up on Wikipedia.
Rather have the Paramount Theatre which the Shorensteins tore down. They have done nothing for the City with all their real estate holdings other than preserve a few other theatres (Orpheum, Golden Gate, and the Curran) so the dauther of the family can pursue her ambitions as a live theatre producer.
The market needs more 2-bed, and even 3-bed, units. We were recently searching for a new rental, and in the new Market Street buildings between Duboce and Noe, consistently the 2-bed units were all taken, while 1-beds and studios sat empty.
I still wouldn’t live in that location without a CC permit.
Taller, taller, taller.
More 3 BR units for those families the mayor is supposedly so concerned about.
If the mayor or stuporvisors were concerned about families they’d fix the public schools. I say that as a parent living in a 3BR condo with a plan to move out of SF when my son turns 5. No amount of 3BR units is gonna fix that problem.
Formidable, if you’re not planning for private school, get out now. Don’t subject your kids or yourself to SF Public Schools. Spend time in the classroom; see what passes.
Fund schools with more development dollars (taller mixed-use bldgs)– it’s happening you-know-where. http://observer.com/2013/01/with-another-luxury-tower-57th-street-becoming-manhattans-new-gold-coast/ (building has since been redesigned).
My oldest is in public schools and doing great. She knows more Mandarin than my buddies daughter in CAIS and he spends $20k/yr on her education. I will be starting daughter number two in the fall and will be glad to no longer spending the money on private school.
There are many excellent, safe and high performing public schools in San Francisco and the bar keeps getting raised all the time. Talk to someone who actually knows what goes on in the schools for an actual perspective. Parents For Public Schools is a great resource.
My son is about to hit preschool age and we like the choices in the city (the $$$ notwithstanding but preschool is pricey everywhere) so we’re staying for a few years. When it’s time for Kindergarten we’ll be in Mill Valley or Burlingame. I’d rather pay 2x my current mortgage for a nice 4BR house with a yard than the same amount to cover condo mortgage + private school tuition.
Yes, I know there are a few good (not great) public schools in SF but I’ve never played the lottery and I refuse to play that particularly absurd lottery where I’m betting my children’s future.
Lottery is an outdated reference for what actually occurs. The school you are assigned to us weighted towards location and having toured about 10 public schools I can say that I was very comfortable with most of them and received my second choice school which was walking distance from our home.
It’s my experience that people are very opinionated about how awfull the public schools are without any direct experience.
You can always put down your favorite schools and move if things don’t work out. That was our plan but we were going to move to Piedmont, not Mill Valley.
I got into two schools that I was happy with though, so I was worried over nothing. You can also apply to charter schools so we got into Creative Arts Charter as well as an immersion school. From the families in my daughter’s cohort at our pricey Noe Valley daycare, about half went into public schools and all but one were very happy with their choice. The unhappy one ended up at Edison, which he was dissatisfied with at first, but now likes. The other half of the class went private. One family moved to San Bruno, which is relatively inexpensive and has good schools.
UPDATE: Shorenstein’s Proposed Mid-Market Development Rendered.
It’s amazing how much lifestyle freedom one apparently has if one simply declines to breed.
Regarding the “3,500 square feet of (legal) “active use” along Golden Gate Avenue and Jones”– that frontage is ~310 feet long, so that’s an average of 23 feet deep if it’s using half the frontage. Another not-very-useful space.