I hope this edition finds you all enjoying some well-deserved time off with family and friends. Spending time kicking back and relaxing is an important summer rite. For July’s newsletter, I wanted to take a look at the ways the City is using the summer season to catch up on its homework.
As a real estate professional, I am constantly seeking to analyze both current market value and future value of properties for my clients. It is equally important to consider how our city is proceeding with redevelopment and other projects because it can have a direct effect on property values.
This edition focuses on two crucially important city works projects that will better position San Francisco for the future: The Central Subway and Presidio Parkway Plan (Doyle Drive redevelopment.) As you know, San Francisco is a wonderfully diverse city, with as many opinions per neighborhood as there are microclimates – the debate on the two projects I have chosen to highlight here has been vigorous, and rightly so. I invite you to learn more about these projects, so you can formulate your own opinion about how our city is ever-changing. After all, knowledge is power and information is liberating!
The Central Subway Project (which the city touts as “the Central T Subway – Connecting People, Connecting Communities”) is Phase 2 of the Third Street Light Rail Project. The extended subway line will connect San Francisco’s southeastern neighborhoods directly with Union Square and Chinatown by way of 1.7 miles of new track. New stations for the T line will be created at Moscone Center, 4th and Brannan, Union Square, and Chinatown.
The aim of the project is manifold, but reducing traffic congestion along Stockton Street, thus lessening air and noise pollution, is paramount. Also important is allowing a more direct link from the ever-expanding smart industry hub at Mission Bay, where biotechnology and R&D outposts are providing essential growth. Most crucial to the Central Subway project is the $57M in transportation sales tax monies approved by the Board of Supervisors, which enabled the city to begin the tunnel boring; federal funding will be required to complete the project within the expected timeframe, by 2019. Learn more about the project here.
Presidio Parkway (Doyle Drive Redevelopment)
Originally built in 1936, Doyle Drive has reached the end of its seismically safe lifespan. For the past two years, work has been ongoing on the Highway 1 arm of the approach to Golden Gate Bridge, slowing things considerably for drivers coming north on 19th Avenue to Park Presidio to points beyond. While San Franciscans and tourists alike have been dealing with slowing traffic, lane diversions, rerouting, and so on, it is all for the greater good: the plan is to integrate the finished roadway, complete with wider median and reduced lane and shoulder widths, into a design more in keeping with the Presidio’s designation as a national park. We can also expect enhanced pedestrian connections within the Presidio to the Main Post, Crissy Marsh, and the National Cemetery, among other points of interest.
Even the most practiced drivers among us find Doyle Drive to be a little on the scary side, what with the orange cones being all that stands between your lane and the next-over lane of oncoming traffic! Construction is slated to be completed by late 2014. Learn more about this project here.
Just Sold Highlights
I had the pleasure (along with my sister and fellow Salma & Co. agent, Laila Salma) on representing the buyers of 2957 – 2961 Washington Street (at Divisadero). This four-unit Pacific Heights Victorian just closed escrow for $2.17M. The property features a full-floor owner’s unit complete with master suite and remodeled kitchen and baths. The full-floor lower unit has 3 bedrooms, 2 baths, and 2 good-sized units on the middle level. The property boasts period wainscoting and wood floors throughout, a garden room (unwarranted) and south-facing garden, as well as an extra-deep lot plus ample storage space and one-car garage. All units have one or more wood burning fireplaces, and there is a laundry room on every level.
For more information about this property or other buying opportunities, please do not hesitate to contact me.
San Francisco Culture
The bi-annual Lower Haight Art Walk is on the books and set for next Saturday August 6, 2011 during the day, which is a change from previous events held in the evening. Nonetheless, this is bound to be a great time!
As you may have read in past editions, this is one of my all time favorite events in San Francisco. I have always loved how the Lower Haight follows its on rules – i.e. where else can bands play on roofs of buildings as the city police just nod and walk by – and the revelry is one of a kind. Learn more here.
About Rhanda Salma
Your local expert, a San Francisco native.
I specialize in the sale and purchase of single family residences, condos, TICS and income properties in San Francisco.
If you or someone you know is looking to buy or sell their property, please contact me to arrange a complimentary consultation. I am never too busy for your referrals.
For more information regarding my services and testimonials, please visit www.salma-co.com