India Basin Development Update

The massive India Basin development project by San Francisco-based Build, Inc. is set to break ground to build up to 1,575 units of housing, 1,800 parking spaces, 209,000 square feet of commercial space and 5.6 acres of open space along San Francisco’s eastern shoreline.

 

India Basin Redevelopment Rendering 2018 - Retail

Render courtesy of Build, Inc/SocketSite

India Basin Redevelopment Rendering 2018 - Commercial

Render courtesy of Build, Inc/SocketSite

India Basin Redevelopment Rendering 2018 - Street

Render courtesy of Build, Inc/SocketSite

India Basin Redevelopment Rendering 2018 - Cove

Render courtesy of Build, Inc/SocketSite

The proposal was approved by San Francisco’s Planning Department and construction is set to begin around early 2020 “in phases over a period of 5 to 15 years based on market demand and financing,” as reported by SocketSite.

To comply with the city’s requirements, the developers are also building its affordable housing component (BMR units) offsite, and the number of these Below Market Rate units has also been  increased to 394 (a whopping 25% of the total units).

Render courtesy of Build, Inc/SocketSite

Exciting news, but as in typical San Francisco fashion, developments are met with challenges in court. Recently, the owner of Archimedes Banya – an adjacent spa, bathhouse, massage and bodywork facility which features “a breathtaking view across India Basin from its sun-lit deck” – has challenged the validity of the development project’s Environmental Impact Report in court.

Photo: banyasf.com

 

Due to the lawsuit, Build, Inc, has quietly pushed back construction until sometime in 2021.

Build, Inc says:

“Based on market demand and financing, the India Basin development wouldn’t be ready for occupancy until 2022, at the earliest..”

 

It is safe to say that the financing troubles have a lot to do with construction costs (due to tariffs), which are plaguing every development and developer across San Francisco and generally the Bay Area.

Source: SF-Planning.org, indiabasinsf.com, SocketSite

Leave a Reply

Your email address will not be published. Required fields are marked *