Articles Recently Tagged: Below Market Rate (BMR)

(174 posts)
Another Battle Brewing Over Plans For Housing On Port Land

Another Battle Brewing Over Plans For Housing On Port Land

The Port of San Francisco has drafted a Memorandum of Understanding for the development of Seawall 322-1, with plans to build affordable housing upon the underdeveloped half-block parcel fronting Front Street between Broadway and Vallejo. The Site is a paved, flat, rectangular land parcel, approximately 37,810 square feet in... Read More »

33 Brand New Mid-Market Apartments For Around A Grand A Month

33 Brand New Mid-Market Apartments For Around A Grand A Month

While the going price for a new studio apartment in San Francisco is averaging over $2,400 a month and Mid-Market one-bedrooms are running closer to $3,500 for 700 square feet of space, eleven (11) of the new one-bedrooms in the 273 unit building nearing completion at 55 Ninth Street... Read More »

From Failed Bites To Building Up On Lombard Street A Bit

From Failed Bites To Building Up On Lombard Street A Bit

A long suffering space for a slew of failed restaurants, the one-story building at 2353 Lombard between Pierce and Scott will be razed and a four-story building with 21 residential units over 2,700 square feet of commercial space will be constructed on the site if approved. The proposed mix... Read More »

1400 Mission Street: 197 Affordable Condos On The Other Corner

1400 Mission Street: 197 Affordable Condos On The Other Corner

Across the street from the SoMa parcel on which the 14-story building at 1415 Mission Street is getting ready to start construction, the building permits for the condo building to rise up to fifteen stories at 1400 Mission have been issued and site work has commenced. As we first... Read More »

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 »