Articles Recently Tagged: Below Market Rate (BMR)

(170 posts)

Raising The Threshold For Requiring Below Market Rate (BMR) Units

On the agenda for San Francisco’s Land Use and Economic Development Committee this afternoon, a proposed Planning Code amendment changing the threshold for new developments that must adhere to San Francisco’s Inclusionary Affordable Housing Program (i.e. provide BMR’s) from any project of five (5) or more units back to... Read More »

Local Lenders Take Note

As we first reported in February: 2760 Sacramento #6 is a Below Market Rate (BMR) one-bedroom condo in Pacific heights which was purchased for $211,500 in February 2003 with restrictions limiting its future resale value and pool of buyers. Despite the aforementioned restrictions, the owner refinanced the condo with... Read More »

A Bank-Owned BMR (No, Not BMW) In Pacific Heights

2760 Sacramento #6 is a Below Market Rate (BMR) one-bedroom condo in Pacific heights which was purchased for $211,500 in February 2003 with restrictions limiting its future resale value and pool of buyers. Despite the aforementioned restrictions, the owner refinanced the condo with a $272,013 first mortgage in 2005... Read More »

A Market Rate Resale below Its BMR Compatriot at Candlestick Point

Purchased for $550,000 in November 2006, the market rate resale of the 1,063 square foot two-bedroom #2305 at Candlestick Point (101 Crescent Way) closed escrow yesterday with a reported contract price of $374,900 ($353 per square foot). Last asking $399,945, the listing for the 1,063 square foot two-bedroom “Below... Read More »

Relaxing BMR Rules At Mission Walk To Compete With Bank-Owned

Relaxing BMR Rules At Mission Walk To Compete With Bank-Owned

Plugged-in people should have seen this coming (others simply scoffed at our noting reductions on BMR re-sales and comparisons of bank-owned and BMR price points). From the Examiner today: Purchasing rules that govern scores of San Francisco Redevelopment Agency condos are being relaxed to help sell the units in... Read More »

Mission Walk (330/335 Berry) Phase 2 Inventory/Application Scoop

Mission Walk (330/335 Berry) Phase 2 Inventory/Application Scoop

Mission Walk will begin accepting applications for 66 below market rate (BMR) condos at 11AM on December 5, 2009. Despite an oversubscribed lottery last year, seven (7) three-bedrooms and fifty-nine (59) two-bedrooms remain available. This time around, “applications will be processed on a first completed-first served basis.” UPDATE (11/25):... Read More »

Mission Walk (330/335 Berry) Prepares To Strut

Mission Walk (330/335 Berry) Prepares To Strut

The newest new development on Berry in Mission Bay, the 131 unit Below Market Rate (BMR) Mission Walk (330/335 Berry) is almost ready for occupancy and walkthroughs. With a lottery which was oversubscribed by a factor of four, unless you applied when we first plugged you in a year... Read More »

What’s Below A BMR?  (To Be Said At Least Two Times Fast)

What’s Below A BMR? (To Be Said At Least Two Times Fast)

A Yerba Buena Lofts (855 Folsom) two-bedroom listed for $399,000. A one-bedroom at the Metropolitan (355 1st) listed for $297,588. Considering both are Below Market Rate (BMR) resales the prices shouldn’t come as any big surprise, the fact that both have been on the market for over four months... Read More »

Mission Walk (330/335 Berry): BMR Applications Now Available

Mission Walk (330/335 Berry): BMR Applications Now Available

It might still be wrapped in scaffolding, but applications are now available for the 131 Below Market Rate (BMR) condos that will compose Mission Walk (330/335 Berry Street). 25 one, 82 two, and 24 three bedroom units priced from $159,474 to $302,735. Qualified buyers will have incomes of up... Read More »

(More) Political Wrangling Over The Development Of Trinity Plaza

(More) Political Wrangling Over The Development Of Trinity Plaza

For decades, developer Angelo Sangiacamo has been trying to re-develop a mid-market plot of land which currently houses the Trinity Plaza apartment building (which he converted from a motor lodge in 1977). Under his latest proposal, 360 outdated units would be razed and replaced with a modern 1,900 unit... Read More »