February 21, 2013

Major Outer Parkside Development Site On Sloat Now In Foreclosure

2800 Sloat Site

First approved for development in late 2008 and granted a three year extension to start construction on 56 new housing units, 23,000 square feet of commercial space, and an open-air market early last year, the Outer Parkside parcels stretching from 2800 to 2898 Sloat Boulevard have fallen into foreclosure on $4,220,000 loan.

While the parcels upon which the Aqua Surf Shop, John's Ocean Beach Café and Robert's Motel currently sit between 46th and 47th Avenues were scheduled to hit the courthouse steps last week, a bankruptcy filing has postponed the auction until at least tomorrow and most likely for many more weeks, or months, to come.

As Proposed To Start Rising At 2800 Sloat And Wawona By 2015 [SocketSite]

First Published: February 21, 2013 5:45 AM

Comments from "Plugged In" Readers

Some commercial and 56 dwelling units (consisting of 19 one-bedroom units, 24 two-bedroom units, and 13 three-bedroom units)... hum guess land cost got the best of them. Someone will pull this out of the fire but may need the bank to play with them and go for more density...

Posted by: Work it at February 21, 2013 11:23 AM

I live nearby and frequent John's. An open-air market in the land of fog and wind. What a brilliant idea!

How much parking? Curious to know because this is slated as a transit-oriented development.

Posted by: Mark at February 21, 2013 12:03 PM

Never mind. Got my answer in the link...56 residential parking spots. 1:1. I guess in SF that counts as TOD. Then again, if you live here and work any place other than walking distance to the L train you need a car.

Posted by: Mark at February 21, 2013 12:08 PM

Long live Aqua Surf Shop !!

Posted by: 4oceans at February 21, 2013 6:22 PM

Yikes.... as to "Work It's" idea that they try to cram more density into the project .... isn't feasible unless they go higher. 56 residential units is already way, way too many for trying to maintain any decent neighborhood character or quality of life. Already the place is a mad house on weekends with zoo patrons eye balling replica wild animals and way too many wild animals of the human variety crowding the waves across the street at OB. I fear for the innocent software yuppies who naively buy these boxes... they are in for a surprise. Sure you can get hammered pretty good at The Riptide on Taraval but even that place is over run with surf wannabes. And now that the City conveniently failed to fight the homeless fire at the Flieshacker pool ruins, that'll soon be offered up by Mayor Lee to the highest bidder. Imagine condos overlooking the sea... directly adjacent to the George Bush Memorial Sewage Plant.

Posted by: 4oceans at February 21, 2013 6:30 PM

Yes, those poor naive software people. They really are stupid, that's why they're the ones with the money to buy all the real estate discussed on this site while the oracles of sanity who comment here are stuck worrying about when their Inner Richmond building is getting Ellis Acted.

And newsflash, Outer Parkside is in San Francisco, as in a major city. If you don't like crowds near the beach, there's plenty of rural coastline for you to enjoy.

Posted by: formidable doer of the nasty at February 21, 2013 9:03 PM

Postponed to 03/01/2013 @ 02:00 PM - Bankruptcy
Estimated Debt: $4,508,003.68

Property County: San Francisco
Property Address: 2800-2898 SLOAT BOULEVARD, SAN FRANCISCO, CA 94116, A.K.A. 2800 SLOAT BL,, SAN FRANCISCO, CA 94116
Google Map

Sale Location: At the Van Ness Avenue entrance to the City Hall, 400 Van Ness Ave., San Francisco, CA

Posted by: inclinejj at February 22, 2013 3:25 PM

I live very close to this, sorry to hear this project is going nowhere for the time being. I don't know that the proposed project is perfect, but this area is crying out for some more food and drink options and this proposal is certainly better than what is there now. There isn't even a taqueria around here. I think this project would either improve "neighborhood character" and "quality of life" by a little or a lot depending on what sort of businesses go in there. The area is hardly a "mad house" on weekends, certainly there are people coming in to the zoo and beach but the car traffic is actually pretty minimal all things considered. I drive past this spot on Sloat nearly every Saturday and Sunday, no issues at all. If the car and foot traffic that is there today is too much for you, SF is probably not the right place for you - this is one of the least busy parts of the city as it is.

Posted by: Sunsetter at February 22, 2013 4:00 PM

Status: Postponed to 03/15/2013 @ 02:00 PM

Posted by: inclinejj at February 28, 2013 5:08 PM

Postponed to April 22, 2013 due to Bankruptcy!

Posted by: inclinejj at March 16, 2013 9:50 AM

Postponed to May 28th due to Bankruptcy

Posted by: inclinejj at April 19, 2013 1:49 PM

Postponed to 06/12/2013 @ 02:00 PM
Estimated Debt: $4,508,003.68

Posted by: inclinejj at May 28, 2013 9:04 AM

Postponed to 07/02/2013 @ 02:00 PM - Bankruptcy
Estimated Debt: $4,508,003.68

Posted by: Inclinejj at June 11, 2013 8:51 AM

Postponed to 08/05/2013 @ 02:00 PM due to Bankruptcy
Estimated Debt: $4,508,003.68

Posted by: inclinejj at July 2, 2013 7:39 AM

Status: Paid Off 09/10/2013
Estimated Debt: $4,508,003.68

Posted by: inclinejj at September 10, 2013 8:14 AM

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