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
Year Built: Various phases with completions first occurring in 2015
Number of homes: 264 across 4 Buildings
Home Sizes: 2- and 3-Bedrooms only in Alma and 1-, 2- and 3-Bedrooms in Engel
Amenities: Lush landscape and common decks; controlled-access car and bicycle parking; views of Bay Bridge, Downtown SF and Oakland Hills
Developer: Lennar Urban
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!
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?
Phase Three is now selling.
Phase Two is under construction and selling now.
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:
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?
Everything’s included in both homes; there are no upgrades or design center. Finishes are nice, not cheap but not over the top. Flooring in the living room/dining room and kitchen is 7″ wood plank. Bedrooms have an upgraded berber carpet.
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 that we are repeating twice: 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.
Latest update: September 3, 2015