Bisnow SoMa, Mission Bay and Dogpatch Update Recap
As San Francisco’s population continues to multiply, the city’s condo market inventory remains significantly low without much inventory on the horizon. Despite the overall market’s outlook, which of San Francisco’s neighborhoods are showing significant activity? According to Bisnow’s latest real estate event, SoMa, Mission Bay and Dogpatch are busy with construction and development, emerging as evolving mixed-use, transit-oriented communities. Polaris Pacific’s Vice President of Research Miles Garber joined industry experts on stage at the event to discuss the neighborhood’s transportation and parking issues, public transportation projects, and the general outlook on future development for the area.
When discussing condo supply, Miles noted 1,300 SF to 1,400 SF residences are quickly disappearing, referencing Tishman Speyer’s LUMINA, led by Polaris Pacific’s sales and marketing team, is 95% sold. He went on to share the handful of projects coming online in the future include Related’s Transbay Block 8, which will open for sale in June, The John Buck Co. and SRE Group’s 120 residences at 75 Howard, which is expected to come online by 2021, and Tishman Speyer’s Transbay Block One.