It's been four months since we last ran a summary of real estate updates in Hayes Valley, and things have been moving fast. Here are some of the projects that are wrapping up, still being worked on, or currently just holes in the ground.
(Photo: Andrew Dudley / Hoodline)
325 Octavia, also know as Avalon Hayes Valley, has moved leaps and bounds in construction over the past few months. Last October the drywall was still visible, but by December rental prices were being announced and applications received. But in somewhat good news for renters, the prices for this building are actually going down.
In October, we reported that studios were to be listed at $3,135 a month. In December, we wrote that the price for a studio had jumped up to $3,210. But now, according to Avalon's website, a 404-square-foot studio will now set you back $2,835. Is this a sign of a changing rental market? Only time will tell. A representative from Avalon Bay told us "the community is currently open and leasing."
(Photo: Meaghan Clark / Hoodline)
On the north side of Avalon is Parcel O, a large plot that's slated to become affordable housing. Mercy Housing plans to build two buildings of residential units which will be connected by a shared courtyard. Measuring 50 feet in height, all apartments will be reserved for low-income and homeless families.
The apartments are a long ways out, with piles of paperwork and permits to file before ground can be broken. A representative from Mercy House told us that construction most likely won't start until September 2015. In the meantime, the space is going to be used as a public arts space and sculpture garden.
(Image: SF Planning)
450 Hayes will be bringing 41 condominiums in a modern four-story package to Hayes Valley later this year. We first reported on plans for the building back in 2013, and a gaping hole next to Flipper's and a temporary sidewalk wrapping along Hayes Street have become familiar sights in the neighborhood. DDG and DM Development told us that the condos and the accompanying ground floor retail space should be wrapped up this year.
(Photo: Rose Garrett / Hoodline)
580 Hayes Street saw some significant action last week after months of sitting empty. Demolition on the former Hayes & Kebab restaurant has begun, and the two large ficus trees out front will soon follow. The corner of Hayes and Laguna streets will eventually be home to 29 condos, each averaging 1,080 square feet. The ground floor will include space for up to three retail shops or restaurants, and a 20-car parking garage will be built in the basement.
(Image: DDG and DM Development)
400 Grove's luxury condominiums, featuring 34 junior 1-bedroom, 1-bedroom, and 2-bedroom units are complete, and have joined the real estate market. The building's unique features include a modern redwood facade, top-of-the-line stainless steel appliances, and a "virtual doorman" which connects visitors and deliveries to off-site doormen via a camera. Prices have not yet been announced, but a website for the building has been established to keep potential buyers in the loop.
(Image: 555 Fulton)
555 Fulton is also nearing completion, with 139 condos soon to hit the market. The building boasts a rooftop garden, lounge, a bike workstation, a dog park (yes, inside the building), and a yet-to-be-determined grocery store on the ground floor. Final touches are being put on the building, with units being advertised as ready by summer 2015.
(Photo: Apollo's Light / Flickr)
Nothing's happened yet at 150 Van Ness, but the aging office building and its ancient pedestrian bridge's days are numbered. The large plot on Market and Van Ness is going to be converted to 420 housing units, with 9,000 square feet of retail space on the ground floor. Emerald Fund is heading up the development, with plans to demolish the building and reclaim four parking lots for the project.
(Image: Envelope A&D)
In other project that are still in the planning stages, there's 300 Octavia, which as we noted in January will consist of two 5-story buildings housing 16 studios each, with construction beginning later this year. The units will be considered micro, or "minimum existence" as the architectural firm Envelope A&D prefers to call it, with studios measuring 14’-6” x 25’-6”, or 370 square feet. The building would include 16 bicycle parking spots, but no off-street car parking. The project is currently under environmental review; if all goes as planned construction is slated to begin late this year.
(Photo: Edmonds + Lee)
Parcel T, which is located at the intersection of Octavia and Page streets, is also slated for development. A mixed-use building, consisting of 26 residential units upstairs and retail on the ground floor, is being developed by DDG and DM Development. The building will have a mix of studios, 1-bedroom and 2-bedroom units, with 13 underground parking spots. Four of the units will be offered as BMR (below market rate). A PPA was filed last December, and the project is predicted to be completed in 2018.
And finally, One Oak (otherwise known as 1500 Market Street) is currently on the architect's drafting table. According to Build Inc. Principal Michael Yarne the tower design is "continuing to evolve," with one recent iteration including 39 stories, ground floor commercial space and a proposed Muni entrance redesign that would make the entryway feel "more European." Design challenges include managing the corridor's wind tunnel, which also raises issue of noise, and finding a neighborhood replacement for All Star Cafe, Market Street's long-standing divey donut shop. We'll let you know when plans are finalized, but construction won't begin until mid-2016 at the earliest.
