5800 Third Street (www.SocketSite.com)
A plugged-in tipster reports:

This weekend a giant banner went up at 5800 Third Street (former Coca Cola Bottling Plant) in the Bayview with a link to their website. It has some general information about the landscape design firm, floor plans, amenities, retail tenants, but no photos of the units yet.

Also, much of the fencing [has come] down and awnings [are] being added. Some trees have begun to go in, and the plants appear ready to be planted.

137 new 1, 2, and 3 bedroom homes now “starting in the $300,000’s” (as opposed to the mid-$500,000s as envisioned in 2007). And a Fresh & Easy is still front and center.
5800 Third Street: Floor Plans [5800third.com]
5800 Third Street: Development Starting Back Up (Delivery In 2010) [SocketSite]
Speaking Of 5800 Third Street (A Development/Developer Update) [SocketSite]
Not Quite So Easy (And A Little Less Fresh For Now) [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by BillyBlanks, agent to the stars

    The Chinese aren’t buying in the Bayview anymore, especially not by the Muni station.
    I wonder who these will be targeted to instead?

  2. Posted by Live Smart

    Actually, the Chinese, especially those who have a family and are very frugal, have never been really into buying condos (too small, little long-term appreciation value, dreaded monthly HOA fees) in the Bayview or elsewhere. It is single family homes they are buying.

  3. Posted by anon

    Tell that to everyone in my building – 225 units and it’s 75% Chinese.

  4. Posted by BillyBlanks, agent to the stars

    Ask the Mark Company what’s the ethnicity of buyers recently for new developments.
    I think it’s safe to say a good chunk of new developments regardless of location are bought by the Chinese.
    Take a look at Millennium, Rincon Hill, Infinity to 555 Bartlett, UnionSF.

  5. Posted by joh

    … especially those who have a family and are very frugal …
    might not apply to those buying luxury condos.
    The Chinese who buy in Bayview do not fall into this same category.

  6. Posted by loftlover

    Does anyone on this thread have a day job? If you had this type of a conversation @work, anywhere in CA, you would probably be fired.
    May I suggest we stick to RE and leave the ethnic stereotyping for another type of blog.

  7. Posted by Rob

    I live in the Bayview, and while i cant quote statistics I think the difference between Chinese buyers buying homes versus townhouses is more a matter of generation. My observation has been that older chinese and first generation (less americanized) with tighter familial bonds (living arrangements) are the ones who buy homes, and that it is younger more americanized generations who are buying into more modern condominiums and townhomes.
    This really isnt a forum for racial buying trends though, financial demographics maybe but anything more might be better left to others.
    I will say that i dont agree with the idea that asians are no longer buying in the Bayview. They are, along with hispanics, older buyers, growing whites and it remains to be seen who will buy some of the future flips i see under construction daily. Developments like Candlestick Cove townhomes were clearly marketed to asian buyers and will interesting to see if a targeted demographic will be apparent once staging is done at 5800 Third. But i would think given the pricepoint that these will be marketed to no particular racial group but mostly target to those not with the quite the bank account for the newer mission developments, but who also dont want to be in Daly City.
    For all the detractors, theres no denying quick access to 101, 280, CalTrain, and T-Line Light Rail and with grocery downstairs, can pretty much dismiss any rhetoric about “being in the hood” because you arent, and foot traffic is minimal in that area and likely only to grow with that of residents from that development and development at 5600 Third. For now the Bayview is still an entry point to ownership, but the buyers are changing, civic investment and response to the Bayview is changing and in the end i doubt it will ever be as homogenous as it once was nor should it be.

  8. Posted by rm

    wow….it’s all about the chinese it seems. you guys have way too much time on your hands figuring out ethnic composition. this is not kosovo.

  9. Posted by joh

    Does anyone on this thread have a day job? If you had this type of a conversation @work, anywhere in CA, you would probably be fired.
    A friend of mine worked at an ad agency in the city. They dealt with clients who wanted to reach out to niche markets (read: ethnic), and it was their job to have these types of conversations every day.
    May I suggest we stick to RE and leave the ethnic stereotyping for another type of blog.
    Rather than calling it “ethnic stereotyping,” it’s far more PC to call it “cultural preferences.” And it’s all tied into Real Estate, I’m afraid. Just take a look at the marketing materials of some of these new developments, and it’s totally obvious that racial, er, I mean cultural preferences are factored in (addresses and/or pricing utilizing excessive 8′s, staging with good Feng Shui, etc).

  10. Posted by curmudgeon

    I agree with Joh. Actually several of the posts take pain to not “ethnic stereotype” and correctly point out that there are multiple chinese or asian markets. Like it or not, it’s impossible to ignore ethnic markets in SF real estate, and I think it is completely fair to discuss in this forum.

  11. Posted by wally

    I live in Bayview too and have been keeping an eye on this building. I want to see what the units look like but they seem overpriced to me. You can easily buy freestanding houses with property in the $300-400K range so why spend that much on a condo? Granted this is new construction and might be a cool building, but I’ll be curious to see if they sell or if the 1BR units drop to the $250K range, which seems far more reasonable.

  12. Posted by joh

    ^ The floorplans for this unit actually look pretty good (in a functional sense). The sq footage is also decent, considering it’s a new construction and all. The fact that the 1BR units have a den is a huge plus. Not sure if it’s really worth the price though, given its location. Personally, if I were to live all the way out there, and I didn’t need convenient access to Muni, I would prefer buying a bit further out, like Daly City or South City.

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