San Francisco’s Mid-Market neighborhood is Soon to Break Out!

With new housing developments and more than 750 homes on the way, Mid-Market will soon look very different from today, and most likely lure thousands of new residents into the area. For years, Mid-Market has historically maintained a seedy character and reputation for crime. It is next to Tenderloin, and squalid conditions, homelessness, crime, illegal drug trade, prostitution, liquor stores, and strip clubs give the neighborhood a seedy reputation.

But with the arrival of companies such as Twitter, Uber and Square in the past several years, Mid-Market launched into a spotty transformation from gritty to hipster.

Last fall, developer Encore Capital Management had put in the market sales of Stage 1075, a 90-unit condominium building in the heart of Mid-Market. “The building was designed with urban pioneers in mind who really recognize the potential of up-and-coming Mid-Market,” said Michelle Antic, principal with Level Four Advisors, the firm marketing Stage 1075.

Three major apartment projects could start construction soon adding more than 750 new homes. Developers have finalized or are close to finalizing building permits to move forward on building these sleek apartment towers sites:

  • Group I’s 247 condos, a 232-room hotel and 16,050 square feet of retail at 950 Market St
  • Shorenstein Properties’ 304 rentals at 1066 Market St
  • Tidewater Capital and Warhorse LLC’s 186 units at 1028 Market St

  • These soon-to-arrive towers are all close to the intersection of 7th and Market streets nestled between Union Square and Civic Center.

    In addition, Trinity Place at 1145 Market St also has construction underway on another 511 units.

    And existing structures on a triangular lot at the intersection of Market, Turk and Mason streets will also be demolished by Group I. Ou told the Business Times last summer that the neighborhood begs for more housing and retail development. “We look forward to breaking ground in the near future,” said Joy Ou, head of Group I.

    Breakdown of Development Housing at Mid-Market:

      Address: 950 Market St.
      Size: 247 condos, a 232-room hotel and 16,050 square feet of retail
      Construction cost: $144 million
      Developer: Group I
      Status: Building permits filed
      Contractor: Bovis Lend Lease

      Address: 1028 Market St. 
      Size: 186 units 
      Construction cost: $60 million
      Developer: Tidewater Capital and Warhorse LLC
      Status: Building permits filed
      Contractor: Swinerton Builders

      Address: 1066 Market St. 
      Size: 304 rentals 
      Construction cost: $84.6 million
      Developer: Shorenstein Properties
      Status: Building permits filed
      Contractor: Swinerton Builders

      Address: Stage 1075, at 1075 Market St.
      Size: 90 condos
      Total cost: $56 million
      Developer: Encore Capital Management 
      Status: Sales ongoing
      Contractor: Build Group

      Address: Trinity Place, phase 4, 1145 Market St.
      Size: 511 units
      Construction cost: $177.3 million 
      Developer: Trinity Properties
      Status: Under construction 
      Contractor: Swinterton Builders

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