Thinking of building something in San Francisco? It’s gonna cost you. The city assesses new developments a wide variety of fees, many of which are called impact fees. The city’s planning department explains: An impact fee is a fee that is imposed by a local government on a new or proposed development project to pay for all or a portion of the costs of providing public services to the new development. Impact fees are considered to be a charge on new development to help fund and pay for the construction or needed expansion of offsite capital improvements. These fees are usually implemented to help reduce the economic burden on local
555 Fulton promises to be a beautiful building in Hayes Valley. Construction material delays or construction delays (depends on who you ask) have put the project noticeably behind the developer’s original delivery schedule. We’ve been keeping an eye on the shrink-wrapped building, and are excited to share some pictures showing the installation of 555 Fulton glass. 555 Fulton promises to be a beautiful building when complete – the glass is etched on the interior and creates some privacy for homeowners while still allowing in light. If you’ve forgotten the basics about this building, here’s a quick summary: 555 Fulton St. will be a five-story, mixed-use building with 139 homes, 29,000
When buying San Francisco real estate with financing, are you better off working with a mortgage broker or mortgage banker? To answer that question, Matt and Ryan start at the beginning and discuss the differences between a mortgage broker and a mortgage banker: Mortgage broker and mortgage bankers both have their place in the lending ecosystem, and each can offer some advantages. In general, we advise our clients to talk with a mortgage broker. Fast forward to the very end if you want to see what kind of compensation we get for the referral: absolutely nothing! The compensation is having a professional working with us on your transaction, and it’s priceless!
So much has is happening in Mission Bay that it is time for a Mission Bay update! You aren’t alone if you feel a bit overwhelmed by all the development. Take a deep breath and join us for a check-in on the fastest changing neighborhoods in our fair city. We’ve done our best to mash-up a few Mission Bay maps with some recent photographs to help give you an idea of what remains to be built and what has been built in the Mission Bay neighborhood: Lot 12W is designated for affordable housing but has yet to take any bids from affordable housing developers. While the city is committed to developing
San Francisco Housing Action Coalition member Panoramic Interests’ project at 333 12th Street was the first in San Francisco to apply the state density bonus. The Planning Commission approved the proposal with a 5-1 vote (Commissioner Melgar dissented and Commissioner Moore was absent). This sets a terrific precedent for housing in our City. For the first time ever, the state law that rewards an increase in density (more homes, less space) was applied in San Francisco. What is the state density bonus? Here’s a quick overview of how the state density bonus law works as well as some thoughts about this particular project at 333 12th Street. The state density
It’s time for another sit down with Joey Hersh, where we answer your questions about San Francisco real estate. This week, questions about inspections, escrows, and why sellers like cash more than financing, even if they get the same amount of money at the close of escrow. Your San Francisco real estate questions, our answers! Joey Hersh is an experienced buyer’s agent who has been in the real estate industry since 2009, and joined our team in 2015. He’s got a personality that is unmatched by anyone, and a sharp sense of how to make a deal happen for our clients. This week we take on escrows, inspections, and why