While fewer than 2,000 new housing units and 140,000 square feet of commercial space in San Francisco was completed in 2013, there were roughly 6,000 housing units and 2.8 million square feet of commercial space under construction at the end of the year, units which will hit the market over the next year or two.
Permits for another 6,600 housing units to be built in San Francisco have either been approved or requested, units which should start hitting the market in two to four years along with another 4 million square feet of commercial space.
In addition to the nearly 12,600 housing units which are either under construction, ready to break ground or awaiting a permit, another 27,300 units have been approved to be built across the city. The approved projects, however, include 10,500 units by Candlestick, 7,800 units on Treasure Island and 5,680 units in Park-Merced, projects which still have overall timelines measured in decades, not years.
And with proposed plans for an additional 10,500 housing units under the Planning Department’s review, San Francisco’s Housing Pipeline currently totals over 50,000 units. For context, a total of roughly 12,000 housing units have been built in San Francisco since 2007, a total of 26,000 new units since 2000.
With respect to commercial development in San Francisco, in addition to the nearly 6.6 million square feet under construction, ready to break ground or awaiting a permit, another 5.9 million square feet of commercial development has been approved and plans for an additional 3.5 million square feet are being reviewed.
A breakdown of the residential developments in the works across San Francisco by neighborhood, not including those at Candlestick, Park-Merced or Treasure Island (click the chart to enlarge):
∙ San Francisco Pipeline Report: Fourth Quarter 2013 [sf-planning.org]
∙ San Francisco’s Housing Pipeline Breaks The 50,000 Unit Mark [SocketSite]