What is going on with the Mission Bay redevelopment area in San Francisco?

Asked by Trulia San Francisco, San Francisco, CA Wed Nov 21, 2012

Is it a success is it a failure? Has the economy slowed down the rate of progress?

For the folks who are actually living/working there how do you like it?

It looks like there are a lot of empty buildings and roads to nowhere (for example there is a big traffic circle that you can see from 280 that seems to have no purpose at the moment). The construction seems to have slowed down a good deal.

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4
Toby Jackson, Agent, San Francisco, CA
Wed Nov 21, 2012
BEST ANSWER
It's hard to call it a success or a failure at this point - the area is still developing and even when most of the construction is complete, it'll still take years for the neighborhood to develop it's character.

While there was some stagnation with the rate of progress, I think things are beginning to pick up - we're seeing new residential projects come online; particularly in the Rincon Hill area - and this bodes well for development in Mission Bay.

The people that I know who live and work in the area seem to enjoy it. Obviously, it has a long way to go before it becomes a living, breathing neighborhood, but I've heard people rave about the weather, the waterfront access and the transportation.

Let me know if you'd like any further information and I'd be happy to help.

Toby

Toby Jackson
Better Homes & Gardens/Mason-McDuffie Real Estate
2200 Union Street
San Francisco, CA 94123
Mobile: 415-627-8200
Office: 415-921-0113
http://www.bhghome.com/JacksonHomes
DRE#01798961
0 votes
Alina Aeby, Agent, San Francisco, CA
Fri Jan 4, 2013
The Mission Bay area development have started way back in 1998 and it is still a work in progress.

To cite from the Mission Bay Redevelopment's website:


"The maximum development program for Mission Bay includes:

• 6,000 housing units, with 1,700 (28%) affordable to moderate, low, and very low-income households. Redevelopment Agency sponsored non-profit developers will build 1,445 of the affordable units on 16 acres of land contributed by the master developer. The remaining 255 affordable units will be included in privately developed projects,

• 4.4 million sq. ft. of office/life science/biotechnology commercial space,

• A new UCSF research campus containing 2.65 million sq. ft. of building space on 43 acres of land donated by the master developer and the City,

• A state-of-the art UCSF hospital complex serving children, women, cancer patients

• 500,000 sq. ft. of city and neighborhood-serving retail space,

• A 500-room hotel,

• 41 acres of new public open space, including parks along Mission Creek and along the bay, plus 8 acres of open space within the UCSF campus,

• A new 500-student public school, a new public library and new fire and police stations and other community facilities."


The plans are always changing, a good example being the Workforce decision not to build its campus, therefore adjustments needed to be made.

There is a lot more to be done here and true to be told, it depends a lot on the private investors and what will attract them to the area. Despite the sluggish economic growth, San Francisco is still better off than most metro areas and there is a lot of hope for 2013.

The releasing of the new UCSF hospital complex should attract a lot more related health care services and pharma/biotech companies that will fill those momentary empty offices.

Furthermore, the Urban Land Institute recently released report placed San Francisco as the number 1 real estate market in the nation in 2013.


Alina Aeby-Broker Associate
Pacific Union International
http://www.bestsfhomes.com
415.744.4844
0 votes
Sally Rosenm…, Agent, San Francisco, CA
Sun Nov 25, 2012
Good answer Will. If I may just add.....One cannot truly judge the success or failure of any area while the serious economic problems exist in our country. Let's have a couple of years of the "good times" before we assess success or failure.

Cheers,
Sally
Web Reference:  http://www.sallyrosenman.com
0 votes
Will Lyon, Agent, San Francisco, CA
Wed Nov 21, 2012
Good insight Toby. I would add that because of rising Real Estate prices city wide and lack of developable land the future of San Francisco is in Mission Bay. The increasing demand from international buyers, domestic investors, technology's newly minted millionaires, UCSF's new campus and the Gladstone instute make mission bay an ideal location for the San Francisco's expansion. Pretty exciting stuff
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