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Development Waiting to Happen Drops Price to $15M

An undeveloped lot with plans for 29 homes and 58 parking spaces has dropped its price by $5 million, taking it from $20 million to $15 million. The land, located on the western slope of Mount Sutro, is no stranger to the Planning Commission. Multifamily homes were first proposed for the site back in 1963, but nothing was built. In 2013, the latest iteration of housing was approved, despite neighbor objections. Once again, ground was never broken, so it went before the city this past May, and was approved again with slight modifications. It showed up on the MLS in November with a $20 million price tag.

Back in November, we described the plans as a mix of "five single-family homes, seven duplexes, and a ten-unit townhouse building." The unbuilt units are large, and some have living roofs. All it needs is a willing and financed developer.

· 599 Crestmont Dr. [Official Site]