Introduction

There are two anchors being dropped at the north and south ends of the area south of Market St. In due course, they will have a very positive impact on adjoining residential real estate. One is the Transbay Terminal at Mission between First and Fremont Streets and the other is Seawall Lot 337 in Mission Bay just south of ATT Park. Two other improvements will also be positives: the expansion of SF MOMA to accommodate the Fisher modern art collection and Forest City’s work to improve the Metreon. Take a look at the map to get your bearings.

North/South Anchors

Demolition of the existing bus terminal is scheduled to start in August. There are probably some fans of the existing 74-year old structure, although I do not know  any of them personally. In its place will rise the Transbay Terminal, aka the Grand Central Station of West. If it is anything like this video rendering, it will be a knock out. Maybe it is just the music that gets me - every time.

On the southern end, across from ATT Park in Mission Bay, is a multi-faceted development that is trying to gain traction under the auspices of the Port Authority who owns the land. It goes by the titillating name of Seawall Lot 337.  The land, much of which is currently used by the Giants for parking during games, would become new offices, housing, shopping, entertainment, and open space. It will bring new vibrancy to Mission Bay, which continues to grow as the country’s life sciences hub. The Radiance will benefit as well.

In the Middle

Both the Metreon and SF MOMA, at the western and eastern sides of Moscone Center, are undergoing their own changes. The same folks who gave birth to the successful Westfield Center also own the Metreon. It’s a structure in dire need of a new direction and theme, and according to the San Francisco Business Times, the owners are struggling to reinvigorate it.

On the eastern side, SF MOMA is planning a new southern façade, one that will house the Fisher modern art collection, which was bequeathed to the museum last year. While plans need to be drawn and money raised, the direction is clear if not the timetable: SF MOMA will be the home to one of the most unique art collections in the world, yet another reason for people to live and visit south of Market Street.

The Antagonists

On June 25, 2010, the San Francisco Business times published an article “Supes Might Make High-rises Endangered Species. The article starts by noting that there are more habitats for butterflies than high-rises being built on Rincon Hill these days, and a growing number of San Francisco slow growth advocates like it that way.

This is an article worth reading – all the way through. Besides the difficulty in obtaining financing for new condominium developments, the Board of Supes makes it exceedingly difficult for a developer to launch a new project. Three pieces of land on Freemont St. (numbers 325, 340, and 399) are sprouting flowers/butterflies along with 45 Lansing. There are no flowers or butterflies at 201 Folsom, the future home to a second Infinity complex, just U.S. Postal vehicles awaiting there next assignment. Meanwhile some people in the city actually think that we should have more housing!

The Optimist

Notwithstanding the killer bee instincts of the Board of Supervisors, there are folks like the Port Authority, SF MOMA and Westfield/Forest City who are making south of Market St. a better place to work, live and visit. We even have a new upscale restaurant, Nancy Oakes’ Prospect at 300 Folsom in the Infinity complex, which just opened in June. Before too long, construction lenders will lend, developers will develop, the Supes will bend, and new homes will be built. As one of my clients often says, it’s a beautiful world!