July 8, 2010
It's Game (Back) On For "The Heights At Candlestick"
Stalled out in 2008 as plugged-in people know and knew, work on the 198-unit unit “Heights at Candlestick” development on Jamestown Avenue in Bayview is firing back up under the direction of developer Rick Holliday. From the Business Times:
Noteware and Goldman Sachs shelled out an eye-popping $18.5 million for the Bayview site in 2006. At nearly $100,000 a door, Noteware and Goldman’s investment cost more than most luxury developers were paying for the most expensive highrise sites in Rincon Hill and SoMa. The team proceeded to snag a $90 million construction loan from Citibank for the Jamestown project.
While Noteware had originally positioned the development as workforce housing priced about $600 a square foot — $600,000 to $700,000 a unit — the new pricing will likely be just under $400 a square foot. The project will be billed as family housing close to biotech jobs in South San Francisco, the state park at Candlestick Point, as well as the massive redevelopment project slated for the Hunters Point Shipyard.
The first two phase one buildings totaling 66 units are 40 and 80 percent complete.
∙ The Heights At Candlestick “On Hold” According To The Sales Center [SocketSite]
∙ Developer Holliday takes over Bayview job [Business Times]
First Published: July 8, 2010 11:30 AM
Comments from "Plugged In" Readers
Im excited to see this development starting back up. It certainly will do a lot for that stretch of Jamestown Ave. I know the buyers of those units may not know what their true view will be for some time with shipyard development, Candlestick demolition, Alice Griffiths Housing demolition, and subsequent rebuild/redevelopment but in the end if all proceeds as expected could make for an amazing perch atop the hill.
Yes i am a bayview resident, so spare me the tired and ignorant bulletproof vest comments
Posted by: Rob at July 8, 2010 2:11 PM
As a Bayside Vista resident, excited to see more developments get completed and put on the market.
It absolutely amazes me how much better the weather is in this part of the city.
Posted by: yeediddy at July 8, 2010 3:49 PM
Jamestown Avenue is the best street in Bayview to live in. I live there in a cool all original Crafstman bungalow I am currently restoring. Nothing ever happens there. So glad they are finishing these condos and not going rental. Only negative is that the street will get busy, but such is the price of progress.
Please, no comments about guns, etc., in the neighborhood. My car got broke into twice on Cathedral Hill were I work, yet never in Bayview. Go figure.
Posted by: bayviewheightsguy at July 8, 2010 10:15 PM