The new owner, plans to complete
an 11-building, 196-unit "affordable rental community." BHPMSS plans to provide
afterschool programming at the housing complex, and will help market the new
condos when they are finished.
Most Bayview Hunters Point
residents cannot buy property at even "affordable" prices, and understand that
the condo development is geared toward meeting the City's overall housing
expansion goals. They are braced for more of the construction that has for years
been shaking the neighborhood's Serpentine rock and landfill foundation.
The property, formerly known
as Jamestown Condominiums, is located at 833-881 Jamestown
Avenue, west of Candlestick Park. The revived project has been rebranded as
"Candlestick
Heights."
Holliday, the corporation
that built the retail and housing development at 5800 Third
Street, had already built 66 apartments at the Jamestown site before
the 2009 recession and a default on its $90 million construction loan stopped it
in its tracks.
The plan for a completed
Candlestick Heights includes from one- to four-bedroom homes reserved for
households earning less than 60 percent of San Francisco's median income. It
will include 350,000 square feet of floor space, 80 percent of which will be
residential. Landscaped gardens, play areas, and garage parking are also
planned.
In the wake of slow sales at
5800 Third Street, completed apartments at Candlestick Heights are now offered
for lease. New occupants are likely to move in this Spring. New construction
via general contractor Cannon Construction, Inc. is expected to start
immediately, and be completed in 16 months. C&C Affordable Management LLC,
an L+M affiliate, will be the property manager.
To apply to lease or own at
Candlestick Heights, call 415.578.9938.
- Jeffrey Betcher
More at The Registry SF and SF Business Times
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