I will share articles, data, tweets, and everything in between each week that I want people interested in Bay Area real estate to read.
Sutter Health Expanding In Emeryville With $1B Investment In Medical Campus"The plan for the regional expansion includes building a new flagship campus at a 12-acre site in two existing buildings at Horton and 53rd streets in Emeryville. The new campus will include a 335K SF medical center with an initial capacity of up to 200 beds, 530K SF of outpatient services and an acute care services center." (Bisnow)
Can Daniel Lurie get SF workers back to office full time?"If San Francisco Mayor Daniel Lurie is able to push more city workers back into the office five days a week, it would be a boon for the city’s downtown, especially the hard-hit Civic Center and Mid-Market neighborhoods, according to commercial real estate experts. But with union contracts that run until 2027 featuring a two-day remote policy, it’s unclear how many of the city’s hybrid workers the new administration will actually be able to get back to full-time office work in the near future." (The Real Deal)
Auction of S.F.’s troubled downtown mall delayed — again "The auction of San Francisco Centre, the city’s biggest mall, was pushed back for the third time, adding more uncertainty to the troubled property’s future. Initially scheduled for last November but delayed repeatedly, the mall auction had been slated for Thursday on Van Ness Avenue but was scrapped again. The auction date is now planned for March 27, according to the website of First American Title, one of the companies managing the auction.The reason for the delays isn’t clear, but there are numerous lenders tied to the mall’s debt, which has risen to over $625 million after owners Westfield and Brookfield stopped payments and walked away from the property at 865 Market St. last year." (San Francisco Chronicle)
Lenders threaten to foreclose on former site of 50-story Sunset District tower "Lenders are threatening to foreclose on 2700 Sloat Blvd. as the developer behind a defunct proposal for a 50-story proposal at the site prepares to sell it to new ownership." (San Francisco Business Times)
US Housing Starts Slip 9.8% as Builders Pull Back "Housing starts dropped to an annualized pace of 1.37M units, per the Census Bureau. Single-family starts fell 8.4% to 993K units—the first decline since October—while multifamily starts plunged 13.5% to 373K units. Harsh winter weather, oversupply concerns, and financing challenges drove the pullback." (CRE Daily)
San Jose to rezone land near airport for business development "San Jose planning department officials want to rezone about 11 acres of unused, city-owned land along Coleman Avenue and West Hedding Street from open space to commercial. The proposal is expected to go before the Planning Commission in April. Airport commissioners recommended the idea last year." (San Jose Spotlight)
