June 29, 2011
Madrone: T-Minus Two Months To Official Grand Opening
The official "Grand Opening" for sales of 329 new condos in Mission Bay, a development born Radiance West but since dubbed "Madrone," is slated for mid-September.
Prices are set to start at $495,000 for a 731 square foot one-bedroom with two-bedrooms priced from $689,000 (1,040 square feet) and townhomes priced from $899,000 (1,600 square feet). Prices are currently set to top out at just below two million for 1,925 top floor tower square feet with private terraces.
First Published: June 29, 2011 3:30 PM
Comments from "Plugged In" Readers
I guess Monotone was already taken?
Posted by: sf at June 29, 2011 4:27 PM
I thought they were going to phase construction of this into two parts. But it sure looks like they are building the whole thing at once. Maybe they plan to finish out and sell just part of it but build the whole shell?
Posted by: Turin at June 29, 2011 4:52 PM
Anybody know how parking is like here and HOA fees? Also, do you guys think Mission Bay has more potential than Rincon Hill area? Or vice versa?
Posted by: PTO at June 30, 2011 8:01 AM
Mission Bay and Rincon Hill both have the same gentrified South Beach feel. The big difference is in the geography and architecture. Rincon Hill has big buildings and vertical earth very close to downtown. Mission Bay is flat with much more modest buildings and several more blocks to travel to get downtown.
Posted by: Mole Man at June 30, 2011 8:40 AM
Mission Bay has more opportunity to gentrify...er I mean liquify .
Posted by: Say What? at June 30, 2011 8:56 AM
Construction is in two parts. The first (Radiance) was completed a couple years ago.
Posted by: anon at June 30, 2011 8:58 AM
I think they both are fairly same. I personally think Mission bay is more convenient for commuting to Sbay. Rincon is convenient if you work in DTown. Mission bay is more quieter and safer (atleast the non-baseball game days).
Posted by: MissionbayResident at June 30, 2011 9:01 AM
I can see the two construction cranes that are on the building site from my desk (I work @ UCSF). They were initially going to build both phases at once, then decided to do two stages instead. Problem was the second parcel was prepped for construction with the first, then lay that way for several years, right against 3rd St. It was fairly ugly for quite a while.
I'm glad to see this get built. Also, the more housing they build here, the better. Without any overnight residents, the after-work bar availability is extreme scant!
Posted by: rr at June 30, 2011 5:29 PM
I could see the building from my condo. When I saw two cranes were put up in such close quarter, I knew they are ramping this complex up fast. It is desperately needed there once this whole Saleforce moves in. More foot traffic means more commerce!
The price range for Radiance is 10-20% higher while the HOA should be much cheaper for Madrone due to a lot more units. I wonder if it's going to be a LEED building.
Posted by: Chris at June 30, 2011 7:53 PM
I know Radiance was built first. But I had originally read that Modrone itself was going to be built in two phases. This was maybe a year to 18 months ago (before it was renamed). Perhaps Bosa sees something in the housing market that has caused them to go ahead and bring it all online at once. Just found it curious that they originally had rather tentative plans but now seem to be more gung ho about the demand.
Posted by: Turin at July 1, 2011 9:46 AM
Interesting times. Hopefully it brings much needed restaurants etc to the area. Right now it is still pretty dead between the ballpark and dogpatch.
Also, I just heard some buzz that One Rincon Hill tower 2 may actually be on the horizon. We shall see.
Posted by: anon at July 1, 2011 11:50 AM
I sure hope that buzz comes to fruition, anon. ORH desperately needs some company in the skyline.
Posted by: Turin at July 1, 2011 6:36 PM
To answer an earlier question - HOA's are estimated to be in the mid 500's to mid 800's per month. Parking is "deeded" - 1 car per condo as far as I know. It will be sold in two phases - phase 1 has about 200 units in the south and west side of the building.
Posted by: Matt Fuller at July 5, 2011 11:57 AM
great!, no valet.
Posted by: pop at July 5, 2011 2:07 PM
Thanks for the info, Matt. So they are still phasing completion anyway. Still, I'm glad to see the exterior going up in one fell swoop. It will add some height variation to MB -- something that is currently lacking.
Posted by: Turin at July 6, 2011 2:25 PM
Matt is wrong. Parking is not deeded. Each unit is entitled to at least one space, but it is not titled.
Posted by: diverj at July 24, 2011 11:31 PM
As a followup, the parking spot is being described by the sales office as "exclusively assigned parking" - haven't seen a prelim title report, so don't know how this will translate to the legal description. Using deeded was a bad choice of words on my part.
Posted by: Matt Fuller, GRI at December 3, 2011 11:53 AM