Castro/Ocatvia-Market Top City New Build Charts

As we've been posting and following since the Castro Biscuit's inception the Castro and the immediate surrounding areas of Octavia/Mid Market and the Mission are experiencing the largest residential building boom SF has seen since post World War II. SocketSite, whose finger is always on the City's new development pulse, recently released some exact facts and figures that determine and analyze all the upcoming new housing under construction city-wide and then ranked which neighborhoods are experiencing the greatest amount of growth. On the 'Top Ten in Development Map' the Castro was lumped into the Octavia/Mid Market region. After one removes the three pre-approved mass builds earmarked for Park Merced, Treasure Island and Candlestick, our amalgamated results wound up coming in number three out of the top ten areas that will, within the next five years, have the greatest number of new residences. The two areas beating the Castro/Octavia mid-Market growth spurt: Showplace Square/Potrero Hill where the Gift Center/Jewelry Mart is set to make way for new homes and 'Downtown' SF. According to the figures provided by SocketSite, Castro/Octavia mid-Market corridor will have grown by 2410 residential units as well as a significant amount of new retail/office spaces. Exact numbers weren't available per area, but, for the City overall, 5 million plus square feet of new retail acreage will be birthed alongside these new homes.

The new build numbers Citywide are rather astounding. 1500 units came on the market already this year. 4900 more currently under construction. Another 8000 permitted, approved, or in the process of starting are slated for sale or rent in the next two years. 7000 more in the process of seeking approval, property or design. All of this on top of the massive, 28,000 approved builds that will take place on Park Merced, Treasure Island, and the soon to be razed Candlestick Park. That brings the total new home build in the pipeline to a whooping 48,000. In context, prior to the current boom, only 26,000 new residential units had been constructed in the City since 2000.

What isn't analyzed within this format is the level of impact the growth will have on City services, infrastructure, congestion, density, or quality of life. The real estate market is touting that the majority of the new developments will be listed at 'market rate'. It's not clear how many of these units will be below market rate. Also unclear is if any of these new developments will be affordable housing constructed with monies raised from developers who choose to forgo having on-site BMR at their new developments and contributed to the City's affordable housing trust fund.