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The Shipyard

The Shipyard

This project is composed of 4 different buildings......Tides, Thayer, Alma and Engel together comprising of a project that was 150 years in the making from a dock and Naval base to this current version that features not only residences but an entire community

Quick Facts about The Shipyard

  • Various phases with completions first occurring in 2015
  • 264 across 4 Buildings
  • 2- and 3-Bedrooms only in Alma and 1-, 2- and 3-Bedrooms in Engel
  • Lush landscape and common decks; controlled-access car and bicycle parking; views of Bay Bridge, Downtown SF and Oakland Hills
  • Lennar Urban

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MLS-Listed Shipyard Homes for Sale

If no homes are listed then no homes are currently available for sale at The Shipyard through the MLS.

We have access to a variety of non-public professional listing networks and may know of upcoming or off-mls opportunities in The Shipyard. Please share your information with the learn more request button if you’d like to see one of the currently available homes or be notified of homes that become available through off-MLS opportunities.

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1,283 SqFt

More About The Shipyard

Update December 2016 – Tides is currently Sold Out, Thayer does have one two-bedroom remaining at just over $800,000.  Alma os also close to Sold Out but there are some opportunities remaining in Engel.

Update: May 2015 — Sales of the second release at The Shipyard are underway. The next two buildings under construction and selling now are called Thayer and Tides. Thayer comprises four buildings containing one- and two-bedroom condos. Prices start in the mid-$500,000s for one-bedroom homes, around $650,000 for one-bedroom + den condos, and mid-$700,000s for two-bedroom homes. Tides is made up of two buildings containing two- and three-bedroom townhomes with prices starting at about $920,000.

Update: February 1, 2015 — According to developer’s representatives, all homes in both the Merchant and the Olympia are under contract. Congratulations!

The Shipyard

If the grounds of The Shipyard could talk, they’d tell you the 150-year history of the site of Lennar’s newest development in San Francisco: over 700 acres of waterfront land that have been used as a drydock, a Navy base, a shrimp fishery, and now, a burgeoning community that will eventually contain more than 10,000 homes (at least 3,000 of which will be affordable), hundreds of acres of parkland, and (we hope) a vibrant new neighborhood for the residents.

Who’s developing it?

Lennar Urban is the master developer of The Shipyard, which contains over 700 acres total between the Shipyard and its companion development at Candlestick Point. There will be a pedestrian bridge built between the two new neighborhoods (The Shipyard and Candlestick Point). The combined neighborhoods will offer about 300 acres of green space when completed.

What’s available now? Or at least really soon?

More buildings are now available. 

Phase Three has sold.

  1. Alma and Engel are currently selling with one residence remaining in Thayer.

Phase Two has sold.

  1. Thayer comprises four buildings containing one- and two-bedroom condos. Prices start in the mid-$500,000s for one-bedroom homes, around $650,000 for one-bedroom + den condos, and mid-$700,000s for two-bedroom homes.
  2. Tides is made up of two buildings containing two- and three-bedroom townhomes in what the developer calls a “London-style enclave” on a private lane. Each home has a private entrance and an attached garage. Prices for the townhomes start at about $920,000.

Phase One — buildings called The Olympia and The Merchant — sold out as of February 2015 and new owners have begun to move in. Details of the first release:

  1. The Olympia: 23 market rate condo homes that are all townhome style (two-level, with no neighbors above you). Pricing for the development started in the high $600,000s. Each home has a private garage (garages face interior courtyard) and also direct street/sidewalk access. Most homes have private outdoor space with a balcony.
  2. The Merchant: 63 condo homes (single-level as opposed to the townhouse-style of The Olympia). Prices for one-bedroom homes started in the mid-$400,000 range. Two-bedroom homes were in the mid-$500,000s, and three-bedroom homes were in the high-$600,000s. (Yes, you are reading that right. No, those are not typos.) Square footage for homes with one bedroom is about 600-800; two bedrooms, 900-1,250; and three-bedrooms, about 1,200-1,400. There are some landscaped courtyards, but no amenities.

Dues in both buildings are low — about $300 to $500/month depending on home and size. Both buildings are aiming for LEED Gold certification, which means they incorporate rigorous environmental standards of sustainability and conservation.

These prices sound too good to be true. What’s the catch?

Finishes are nice, not cheap but not over the top. 

If there’s a catch, it’s the Mello-Roos tax on each home in the development. Those 12,000 new homes will need infrastructure…and someone’s got to pay for it. So there is what’s called a Mello-Roos tax on each home to fund the installation and maintenance of that infrastructure. The assessment is based on the square footage, and for a two-bedroom home of approximately 900 square feet, the tax is about $5,500 a year. Dues + this tax total $750 – $950/month. In addition, parts of the development site were once part of an EPA superfund site. After remediation of the land and verification of remediation, the land is turned over to developers who then develop the land.

One more thing!

The Shipyard will have garage parking for every unit, no stackers, no valet, no joke.

Important Information: We do not represent the developer of The Shipyard. The developer has selected The Mark Company to provide them with their exclusive representation. We provide buyers with Independent Representation at new and resale construction across the city of San Francisco.