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Developer Eyes Vacant Visitacion Valley Lot for Housing, Retail

As San Francisco's development rush sweeps to the city's south, developer Patrick McNerney of Martin Building Company has bought a vacant lot in Visitacion Valley and plans to build about 200 units of housing above new retail, according to the San Francisco Chronicle. McNerney is best known for helping to transform SoMa and Dogpatch with trendy loft-style projects like the Mint Collection. Now, with the huge 1,679-unit Schlage Lock development getting ready to start construction, McNerney sees long-struggling Visitacion Valley as a potential new development hotspot, citing its transit-friendly location on the Caltrain and Muni lines as a major bonus.

McNerney told the Chronicle that he wasn't looking to buy in Visitacion Valley but saw a listing for the 1.2 acre site at 2201 Bayshore Boulevard on property website LoopNet and jumped at the opportunity, ultimately paying $1.85 million for the property. According to the LoopNet listing, the land is currently zoned for light industrial use but could possibly go residential. The much larger Schlage Lock project is about to start construction on curbs, streets, streetlights, and utilities for the long-shuttered factory site, in anticipation of the big changes on the way for this southern neighborhood.

· Will Visitacion Valley Become the Next SoMa? [SF Chronicle]
· The Massive Schlage Lock Project Looks for Approvals [Curbed SF]
· 2201 Bayshore Boulevard [LoopNet]