Stuck in development purgatory for nearly 6 years, work has finally begun on 72 Townsend Street, a historic warehouse conversion and addition that will yield 74 new condos. The project was delayed due to the economic recession, and recently changed hands to a developer eager to start their first San Francisco project. The new addition will step up to nine stories at the rear of the building, while the Townsend facade will remain one floor. Units will range from 800 sq. ft. one-bedrooms up to 2,800 sq. ft. three-bedroom, two-bath units. Parking will be 1:1 and the ground-floor will remain retail. The building is expected to be ready for occupancy in mid-2015. Pricing has yet to be set, but prices in the neighborhood are currently fetching between $1,000-$1,200 per square.
·Development du Jour: More Condos at 72 Townsend Street [Curbed SF]
·KB Home buys first San Francisco development site [SF Business Times]