This exciting hub of culture and diverse city living has seen meteoric increases in property values as new mixed-use developments signal a shift towards a sophisticated, yet hip, gentrification.
When San Francisco commissioned Arthur Brown Jr. to design City Hall in 1913, he went into his bag of tricks from his studies at the Ecole des Beaux-Arts and modeled this civic landmark after Paris' Les Invalides to create an architectural axis to anchor the city after the 1906 quake. CaenLucier narrows focus this month on Hayes Valley and the fortuitous flurry around the Civic Center. When Ron Conway rattled the cages of Ed Lee's offices, Doug Shorenstein's bet on mid-Market paid off with Twitter deciding against abandoning the city. With Benchmark Capital already across the street in the Warfield Building, it was game on for the tech sector effect on residential values. In an odd way, the 1989 Loma Prieta earthquake followed by Art Agnos' tenacity to tear down the freeways reinvigorated two iconic San Francisco districts... The Embarcadero and Hayes Valley.
Hayes Valley has seen a renaissance like no other neighborhood in town. While the blue collar to white-ish collar transformation of Noe Valley, Potrero Hill, and Bernal Heights has been noteworthy over the past five years, Hayes Valley is truly where the action happens. Traci des Jardin and Bill Russell-Shapiro put their money down on Jardinerre and Absinthe, respectively, in the late '90's. In 2012, Randall Kline gifted our city, and particularly Hayes Valley, the Mark Cavagnero designed SF Jazz Center, adding to the internationally lauded opera, symphonic, and ballet companies that culturally anchor the Civic Center. The neighborhood now bumps to a new beat, a beat that embodies hip refinement and satisfies the intellectual curiosity of San Franciscans. Like many districts in town, Hayes Valley has been a hot bed for new development. With over 300 new units in the past four years and another 500 debuting and under development, it's go time for investors and astute residents to invest in this re-imagined neighborhood.
CaenLucier investment tip: The numbers don't lie. In the last three years of this robust market, the median price of neighborhood condominiums is up 38% ($830,000 to $1,150,000) and the single family home sector has climbed 54% ($1,550,000 to $2,400,000) CaenLucier is confident that this district has a continued sustainable and attractive growth curve. Please consult us for leading edge opportunities in this neighborhood. We look forward to sharing our expertise in your pursuit of adding real estate to your portfolio.