A joint ULI/SPUR tour of 5800 Third Street condominiums February 21 showed attendees how the Bayview is rapidly becoming the next chapter in a ‘path of progress’ in San Francisco’s economic development, south from the Financial District. As developer Rick Holliday pointed out on a bus ride from the Ferry Building, San Francisco’s residential and business expansion from SOMA and further south started some 30 years ago with Holliday’s Fourth Street Lofts and The Clocktower, sparking a boom that has seen SOMA and now Mission Bay become some of the most-desired addresses in the City today. With the extension of the Third Street ‘T’ streetcar line through the Bayview toward Candlestick, properties like 5800 Third located along the route (and accessible to Hunters Point) are now just another neighborhood in easy reach of tech and financial employers alike. “Building in the path of progress, where jobs are growing, is a classic development and redevelopment formula,” said Holliday. Added Paul Zeger of Pacific Marketing Associates, “5800 Third’s sold-out first phase, busy grocer Fresh and Easy and cafe’s Limon and Brown Sugar Kitchen have turned the property into center of community, activity and commerce.” Bayview Project Area Committee Chair Angelo King told the crowd, “The positive change in the Bayview led by 5800 Third is just one piece of a story that is transforming the area, for longtime residents such as myself as well as newcomers. There’s a whole range of housing options and activities that make this a great place to live.”
Authored by: Ron Heckmann, Heckmann Communications.