The Overlook, a would-be community of 29 new homes on the western slope of Mount Sutro, spent five years trying to get the entitlements, and now spent the last 12 months trying to find a buyer for them.
But the saga since 2010 is actually only part of the story, since the first developer set eyes on this plot of land at 599 Crestmont Drive all the way back in 1963.
Despite decades of false starts, it seemed the current building boom could finally be the thing to populate this rare patch of unpopulated western San Francisco. After all, if not now, when?
And it looks like, after cutting the price by $6 million over the course of the year, someone has finally risen to the occasion. When we wrote about its most recent relisting on Monday, a tipster told us that a deal is “in contract.”
And indeed, the publicly viewable ad now lists the 1.15 acres of land and entitlements as “contingent.” It looks like Crestmont Drive might finally have a winner.
What does this mean? First, that some people’s view in Forest Knolls is going to change a bit.
Second, that the area west of Twin Peaks is going to get a rare injection of a few dozen new units of housing all at once, mostly duplexes along with some townhouse designs.
Actually, the plans are reminiscent of much of the development on the city’s southeast side, around the Shipyard area. Just much further west, for once.
Finally, although the space and number of homes is relatively small, the remoteness of the parcels, their distinct position on the hillside (which held up the development for years, as neighbors complained that building on the slopes might not be safe), and the uniform design of the new buildings has the potential to spawn an entirely new, tiny San Francisco neighborhood.
If everything works out, that is. Keep your eye on the mountain.
- 599 Crestmont Drive [Redfin]
- Neighborhood for sale on Mt. Sutro cuts price $6 million [Curbed SF]