Having hit a record high at the end of 2019, the number of apartments and condos now under development in San Francisco (i.e., the city’s housing pipeline) has since dropped 4.6 percent, primarily driven by a sharp decline in the pace of newly proposed projects.
That being said, there are still 9,500 units of housing which are already under construction across the city and should be ready for occupancy within the next year or two, which is down 2.3 percent on a year-over-year basis but roughly 50 percent higher than the average number of units which have been under construction across the city over the past decade.
At the same time, the number of housing units in projects have already been entitled and for which building permits have either been issued, approved or requested – but for which the ground has yet to be broken – has ticked up to nearly 18,000, which is the most in over a decade, while the number of units in projects that have already been approved but not yet permitted (which still includes the majority of the 10,500 units by Candlestick, 7,800 units on Treasure Island and 5,680 units at Parkmerced, projects which have overall timelines measured in decades, not years) has ticked up to 32,900 and is now 7.0 percent higher than at the same time last year.
And with proposals for another 10,200 units of housing under review by the City’s Planning Department, which is the fewest since the fourth quarter of 2014 and down over 35 percent versus the same time last year, San Francisco’s overall Housing Pipeline now totals 70,418 units of housing, which is down 4.7 percent on a year-over-year basis and includes 13,900 units of affordable housing, according to our latest accounting of Planning’s databases as mapped and distributed above.
Article source: https://socketsite.com/archives/2020/12/san-franciscos-housing-pipeline-down-5-percent-but.html