Photo: Lumina SF/Facebook
A wave of new residential construction could bring some relief to San Francisco’s notoriously tight housing market.
The city’s supply of new housing is at an all-time low, the San Francisco Chronicle reported. In late September, only about 350 new condos were available for purchase, compared with more than 3,000 units on the market six years ago, according to data from the Mark Co.
Lumina, Tishman Speyer’s ambitious four-building, 656-unit condo complex at 201 Folsom Street, is one of the major projects shaping the city. The unabashedly luxurious Rincon Hill development is a sequel to the 650-unit, two-tower Infinity development at 300 Spear Street. Lumina’s amenities will include a billiards room, music room, library, 7,000-square-foot gym with climbing wall, 75-foot pool, landscaped rooftop terrace with barbecue grills and outdoor movie screen, bicycle repair room, valet parking and private dining room with patio.
We’ve compiled a list of the major San Francisco neighborhoods for residential construction activity. SoMa was the clear winner, with 2,311 units currently being built, followed by Rincon Hill, with 2,069 units. The Civic Center area was No. 3 with 810 units, with the Mission District (496) and Tenderloin (302) rounding out the top five.
The figures below are taken from BuzzBuzzHome data as of October 9.
Below, photographer and architect Dan Hogman snapped a stunning shot of the rising San Francisco skyline from the 20th floor of Lumina: