‘Overlook’ Site For 29 Luxury Homes On The MarketMay 19, 2015
With the long-running dispute with the existing Mount Sutro Wood Owners Association and uphill neighbors having been settled, and the proposed San Francisco Overlook project having been fully-approved for development last week, the building site for “a new community of 29 luxury homes” on the western slope of Mount Sutro is now on the market to be sold along with the approved plans by Levy Design Partners.
Keep in mind that the building permits for the project have yet to be requested, issued or potentially challenged.
Comments from Plugged-In Readers
I wonder why they would make the out-facing side of the end unit utilitarian (appears to be an emergency exit stair or something). The view from that space must be incredible. Is there a possibility of further development to the West?
Who is listing it?
[Editor’s Note: PolarisPacific.]
Can you post a link to the listing?
So I looked at the Polaris site. They mostly market to end-buyers, right? So this is kind of a “pretend” listing right, like in case a Chinese billionaire is out with crazy money and wants to take over this project for a stupid price(?) Seems like they’ll probably just build this and then market the finished product. Or maybe to gauge market interest to make a lender feel better about financing the construction.
Please get with the (EB-5 visa) program. No billionaires are needed. For $500k you can buy a green card.
Here’s a quick excerpt from the article to give you an idea of how much foreign ‘green card’ money is flowing into construction projects
Twelve-hundred foreigners have poured $600 million into projects at Hudson Yards; 1,154 have invested $577 million in Pacific Park Brooklyn, the development formerly known as Atlantic Yards; and 500 have put $250 million into the Four Seasons hotel and condominium in the financial district. The list of projects involving EB-5 investments also includes the International Gem Tower on West 47th Street and the New York Wheel on Staten Island.
Wonder what those numbers look like for Ess Eff? At any rate, nice to see some of that money come back here to build housing.
I am sure every unit will be without a car, and people will daily take their groceries and kids and dogs via bike up to the roadways above on this steep sloped site. There could not be ANY impact on roads, and congestion nearby, nor any joint impacts in an EQ for any of these homes sliding downhill…?
I would think as a min. a mini-sky-air-lift-tram is a requirement to access the units. Maybe an HOA that pays for public access to the parks and paths prior?
Who is liable for this effort?
They don’t look particularly “luxurious” in the renderings though I’m sure they will definitely be expensive.
The City should require them to connect Crestmont Drive to 5th Avenue so the residents could get to Irving street and public transport without driving around the mountain.
Oh wait – that would be an actual transportation improvement – and we don’t do that unless it involves spending a billion $ on subway tunnels. ;0
I’ve been to the end of Crestmont (looked at a condo there) where the fire road would be converted to a street leading out to this parcel. The hillside is pretty steep leading down to 5th Avenue; I’m not sure a connection would be feasible. An engineer may be able to prove me wrong, though.
Are there any illustrations portraying this proposed development in relation to the nearby “Kirkham Project” also in the planning stage?
it seems like it would be in the City and Neighborhood interest to require these 2 projects to coordinate improvements instead of pretending each other did not exist…
These monstrosities are going to slide down into the sunset when the next El Nino hits. The large units above are already poised to slide down, and large chunks of earth came down during the last El Nino. Not to mention the incredibly constrained access: The entry to this development is at the end of a 1 1/2 mile cul de sac. All 58 cars will be streaming down crestmont, and only 29 of them will have parking places.
While Fishchum is right – the hillside is pretty steep leading down to 5th Avenue – City engineers have successfully handled much steeper in San Francisco before. Dealing with hills is something we are good at.
It makes no sense to have the entry to this development at the end of a 1 1/2 mile cul de sac
It’s unlikely – but what if there is an earthquake and a big fire breaks out up there? No way to get to it.
Zero zip zilch nada
If you have visited old castles on hills you know the approach road climbs diagonally up and across the apron. Such a 10 degree grade up from the south end of 5th Ave. to the west end of the project road would be quite feasible.
At the bottom of this very hill a second larger project (Kirkham Heights 460 units, 8 stories) is now before them which will destroy all 86 older rent controlled and affordable units surrounding the 5th Ave. stub. Does our Mayor and Board of Supes speak with forked tongue about about affordable housing? Watch and see.
[Editor’s Note: Largest Development In The History Of SF’s Inner Sunset Proposed.]
UPDATE: Previously on the market without a set price, the land and entitlements for the San Francisco Overlook project have just been listed for $20 million.
UPDATE: Huge Price Cut for Hillside Site Approved for 29 Luxury Homes
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