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Week of Sept. 2nd-SF residential projects languish as rising costs force developers to cash out

September 2, 2018

Just 3 miles separate 2675 Folsom St., a vacant former restaurant equipment warehouse in the Mission District, and 160 Folsom St., a former parking lot near the Transbay Transit Center where a condo tower is under construction.

But in the current economic landscape of the San Francisco’s housing development, the two properties are a world apart.

While the next crop of luxury condo towers like 160 Folsom, which developer Tishman Speyer has branded as Mira, continue to rise in the fast-growing eastern end of South of Market, other approved housing projects across the city, like 2675 Folsom St., are stalled and on the market because of soaring construction costs and fees, developers and other industry sources say.  Read more




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