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Radiance Mission Bay Boards the Slow Bus

With the exception of a handful of UCSF buildings and a couple sandwich shops, there really isn't much going on in Mission Bay— yet. But that's exactly what residents of Radiance at Mission Bay are looking for. The 99-unit waterfront building is the first condo development to open South of Mission Creek, and only 30 or so members (so far) of the avant garde have closed on units in the building. Typically speaking, these select few owners seem to love their privacy— the dev is becoming known for its quiet "isolation" from the city. (Since construction noise won't be dying down for, let's say, around five years or so.) Even nail-biting developers are having a hard time guessing when the area will really "come alive" with new retail and restaurants, as Fourth Street will be at the center of the action. Unfortunately for the masterminds behind Radiance, Bosa Development, sales have been slower than expected due to the declining housing market and (we're guessing) the idiosyncratic location of the building. Although piles have been set for Radiance Phase II, construction is at a halt until sales pick up, with lenders looking to see at least 2/3 of the units occupied before it gets the green light. As it stands, the Radiance is one year behind schedule.
· Radiance achieving quiet success at Mission Bay [Business Times]
· Bosa Development suspends Mission Bay condo project [Business Times]

[image via Image courtesy Radiance SF]