As we outlined a couple years ago, plans for an 80-unit townhome development to rise on odd-shaped, 1.72-acre parcel on the hillside above the Laguna Honda Reservoir, between Clarendon Avenue and Warren Drive, were approved back in 1972 but building permits for the site were never requested and the entitlements for the development expired.
Six years ago, a meeting was held with Planning to discuss re-entitling the development of the parcel, a parcel which is technically only zoned for the development of one single-family home (RH-1) but could possibly be subdivided, up-zoned or developed by way of a Planned Unit Development if conditionally approved, but nothing new has been formally proposed, much less approved.
While the un-entitled parcel returned to the market with a $8.9 million price tag two years ago, touting “a unique opportunity to design and build” a multi-unit development on “one of the last undeveloped parcels” in Forest Knolls, the parcel never sold and the LLC that owned the parcel was foreclosed upon.
For those wondering how new developments could possibly start to pencil in San Francisco without a radical drop in the cost of construction and/or affordable housing requirements, here’s a little hint: the 1.72-acre parcel is now back on the market as “868 Clarendon Avenue” with a slightly reduced $3.5 million price tag. We’ll keep you posted and plugged-in.