Are the Wealthy Starting to Leave San Francisco?

San Francisco’s status as a destination city for tech workers and people who hate temperature changes of more than five degrees has made it one of the most expensive housing markets in the world. After years of home prices making like tech stocks and going up, up, up, the COVID-19 pandemic has now thrown the city into a state of flux, as people are moving within and out of the city to adjust to their new pandemic reality.

San Francisco is one of two cities in the country where the overblown narrative of a pandemic-driven urban exodus actually holds true (New York, specifically Manhattan, being the other). While it will take years to definitively suss out what exactly is happening in migration patterns today, recent housing-market data is starting to signal who is leaving San Francisco — and it’s the rich.

According to Zillow’s August housing-market report, San Francisco saw a 1.5 percent uptick in available homes for sale year over year. That may sound like only a minor increase, but it puts San Francisco far ahead of other cities in the state, which are experiencing profound supply shortages. Sacramento’s market has more than 40 percent fewer homes available than it did last year, and nearby San Jose — which usually moves in lockstep with San Francisco — saw a 19 percent drop in August year over year. Rises in the number of total listings usually put downward pressure on prices and lead to homes staying on the market longer, but in San Francisco, neither is happening. Median list prices there have risen by 22.6 percent since January, and homes are selling more quickly.

“My sense is there could be a lot more expensive, higher-end listings that are driving up the list-price data,” said Zillow economist Cheryl Young. “Those tend to stay on the market a bit longer. They’ll always show up in overall inventory, and a few might be added every week as new inventory. There’s not a lot going back on the market, but there might be more stuff kicking around that’s higher end.”

So these twin trends in Zillow data — more high-priced apartments in the mix, plus more properties overall for sale — naturally create the suspicion that wealthy people are leaving the city (a position reinforced by the parallel suspicion that wealthy people are leaving New York as well). Both places have gotten more expensive because of changes to the federal tax code, notably the cap on the state and local tax deduction passed in 2017 that disproportionately impacts wealthy households on the coasts.

Much has been made about the possible impact of expanded work-from-home policies at the tech companies that dominate the Bay Area, but local realtor Tracy McLaughlin says that isn’t a motivator for the sellers she represents. San Jose, which serves as a giant corporate office park for its more chic neighbor to the north, is not seeing any outbound migration, which you’d expect if work-from-home policies were triggering an exodus. It appears that the pandemic has merely exacerbated existing conditions and accelerated changes in any given market. San Francisco’s housing market was already cooling, as prices were bumping up against an affordability ceiling, and those tax changes drove up prices. “San Franciscans might have waited until their kids were maybe 4 and 7 to say, ‘Well, we don’t really want to do private school in San Francisco — we’ll move to another county,’” McLaughlin says. “People with very young children who weren’t going to leave the city until the kids were school-age are leaving now.”

And people appear to be leaving in San Francisco in particular — not Oakland or San Jose or elsewhere in the Bay Area. Zillow’s home-price index in San Francisco grew by just 2.7 percent year over year in August, while other major California markets grew by at least 5 percent. The index for San Jose home prices grew 10.3 percent. This suggests that the added inventory at the high end is reflective of a broader market cooling that is unique to San Francisco.

Wealthy households leaving San Francisco isn’t such a bad thing for the housing market, as downward pressure on home prices is a welcome change for any renter looking to become a buyer, more so in an expensive place. But if you’re looking to buy in San Francisco, don’t expect to have an easy time of it, as it’s still very competitive. “I’ve never been busier,” says McLaughlin. “I’ve never had more visits.”

Article source: https://www.curbed.com/2020/9/24/21450969/san-francisco-housing-real-estate-wealthy-leaving

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Editorial: Vote yes on all SF props

We often find at least some San Francisco props worth rejecting, but not this year. Most involve revenue issues facing the city’s billion-dollar budget deficit projections due to COVID-19; some deal with law enforcement reform and housing; and bond and regional transit measures are among the rest. We recommend a yes vote on all 13 SF measures. Unless otherwise noted, the propositions need 50% plus 1 of votes to pass.

Proposition A: Health and Homelessness, Parks, and Streets Bond. Yes. This is a $487.5 million bond for the acquisition of real property to house or provide services to people experiencing mental health challenges, substance use disorder, and/or homelessness. Additionally, it provides funds for improvements to neighborhood parks, playgrounds, community gardens, and recreation centers. Infrastructure repairs, such as to city streets, are also included. This was placed on the ballot by the mayor and Board of Supervisors to assist the city’s economic recovery during the pandemic and spur job creation. It does not raise taxes and must be approved by 66 2/3% of voters. Vote YES on Prop A.

Proposition B: Department of Sanitation and Streets, Sanitation and Streets Commission, and Public Works Commission. Yes. Supervisor Matt Haney is behind this charter amendment in response to the criminal arrest that brought down former public works director Mohammed Nuru earlier this year. Haney represents the Tenderloin, which has been adversely affected by the pandemic and homelessness that ballooned during the lockdown. Haney points out that San Francisco Public Works does not have an oversight commission, a safeguard which may have prevented the use of street cleaning as a political perk or punishment, leaving streets filthy and residents and visitors disgusted. The point is to provide more supervision so Public Works does not operate unchecked. Additionally, Haney believes that a department dedicated to street and sidewalk cleaning would be more effective than being lost in a department with wide-ranging responsibilities. Cleaner streets and sanitary public spaces will help keep people healthier during and after the pandemic. In addition to a commission for Public Works, this new street cleaning department would have its own oversight commission that would set baseline standards, control spending, and investigate corruption. We do have some concerns with the cost, estimated by the controller to be between $2.5 million to $6 million annually, mostly due to new administrative expense and based on current service levels. But the choice is to live with current conditions or to focus on the singular goal of keeping streets and sidewalks cleaner. Vote YES on Prop B.

Proposition C: Removing Citizenship Requirements for Members of City Bodies. Yes. This charter amendment would greatly benefit all San Franciscans. Prop C would remove the requirements that city residents applying for boards and commissions be U.S. citizens and registered to vote. Instead, people will have to be San Francisco residents of legal voting age. This will open up the process so that more people are eligible to participate in civic government. The views of immigrants are vitally important for many city agencies, and they should have representation on those bodies. This would allow queer immigrants, for example, to be involved in the government of their adopted city. It will also expand the San Francisco law to align with California’s existing law to allow all state residents, regardless of immigration status, to serve on California’s local and state boards and commissions. Vote YES on Prop C.

Proposition D: Sheriff Oversight. Yes. A charter amendment, Prop D would primarily create an independent oversight board, which would appoint an inspector general to evaluate the work of the San Francisco Sheriff’s Department, provide public transparency for investigations of misconduct and abuse within the department, develop recommendations for a use of force policy, and report on complaints filed against the department. It has widespread support, including District Attorney Chesa Boudin and Public Defender Mano Raju, and the full Board of Supervisors. Prop D will almost certainly pass given the prevailing mood to reevaluate law enforcement. Sheriff Paul Miyamoto respectfully disagrees. In a recent Zoom call to discuss the ballot measure, Miyamoto pointed out that the department has an internal affairs unit and had just signed a new agreement with the Department of Police Accountability that he said Prop D. duplicates. Supervisor Shamann Walton, the main proponent of Prop D, stated that public transparency is necessary, and that the city has paid out millions of dollars in settlements over the years. The San Francisco Police Department has a strong police commission that provides oversight. Similarly, we think independent oversight is better than a city department investigating another city department. Vote YES on Prop D.

Proposition E: Police Staffing. Yes. This charter amendment is timely. Due to city leaders’ actions to move money out of the San Francisco Police Department in response to the protests over the summer calling for changes to policing, as well as the shifting nature of crime, SFPD and the police commission should be able to determine staffing levels of full duty sworn officers. Right now they cannot; the charter sets the number of full duty sworn officers at 1,971. Prop E, led by Board of Supervisors President Norman Yee, would require the police chief to provide a report to the commission describing the department’s current number of full duty sworn officers and recommended staffing levels for same. The report would be required every two years and include a public hearing by the police commission on the issue. Prop E would also remove the requirement that the city maintain the number of sworn officers dedicated to neighborhood policing and patrol at least at the level in fiscal year 1993-94. There seems to be broad agreement between the mayor and supervisors that sworn officers should not be responding to mental health calls and other activities, and therefore fewer officers would be needed. Police officers have tough jobs and they should not be deployed as social workers, as Yee wrote in the ballot argument. Prop E should be passed so that SFPD and the police commission — not some arbitrary number set in the charter — can determine the appropriate staffing levels for sworn officers. Vote YES on Prop E.

Proposition F: Business Tax Overhaul. Yes. Yee is also the main sponsor of Prop F, which is a charter amendment that will blunt the economic challenges brought about by COVID-19. It would provide tax relief for sectors affected by COVID, including retail, restaurants, the arts, and manufacturing. It would eliminate the payroll tax and fully transition to the more equitable business tax system. It would increase the small business exemption ceiling for the gross receipts tax to $2 million. Other benefits include making available over $700 million for child care and early education, homelessness, and other essential services. This has support from the mayor and the board. Vote YES on Prop F.

Proposition G: Youth Voting in Local Elections. Yes. Called Vote16SF, Prop G would allow 16- and 17-year-olds to vote on all local races and city ballot measures. A charter amendment, it is similar to a measure in 2016 that was defeated by voters. Yee, a former school board member, supports the measure, which would increase voter participation. Supporters are right to point out that decisions made at the ballot box often impact 16- and 17-year-olds, from police reform to transportation, housing, and economic development. They should be able to have their voices heard by exercising their right to vote. Vote YES on Prop G.

Proposition H: Neighborhood Commercial Districts and City Permitting. Yes. This measure would help small businesses impacted by the pandemic to keep their doors open and employees on the job. It would allow more outdoor operations on sidewalks and parklets, permit cafes and restaurants to include workspaces, support new arts and nonprofit uses, help fill vacancies and keep commercial corridors vibrant, and streamline the permitting process from a year to a month. This alone is worth passing Prop H, as it would cut thousands of dollars in overhead costs for new merchants. Vote YES on Prop H.

Proposition I: Real Estate Transfer Tax. Yes. Supervisor Dean Preston is the main proponent of this measure, which would ask those who are selling property valued at $10 million or more to pay a higher tax when they sell their property. This would mostly affect large corporations or real estate trusts. The revenue will help those who have suffered the most during the pandemic, he explained, by providing much needed revenue to the city. (There is no change to the transfer tax for the average homeowner or property owner.) The progressive tax measure will generate much-needed emergency funds, especially with San Francisco facing a deficit of $1.7 billion due to the pandemic. Vote YES on Prop I

Proposition J: Parcel Tax for San Francisco Unified School District. Yes. The city passed a similar measure in 2018, but it’s been stalled by an ongoing legal dispute because it did not pass with two-thirds of the vote. The city is collecting the parcel tax but is not spending the money. Mayor London Breed is seeking an end-run around this with Prop J, which would require a supermajority of 66 2/3% of the vote. It would replace the old proposition if it passes and the annual parcel tax would be $288, lower than the current $320. It would be effective July 1, 2021 through June 30, 2038. Prop J is expected to generate about $48 million a year for the cash-strapped school district, which is also facing a budget deficit due to COVID. Vote YES on Prop J.

Proposition K: Affordable Housing Authorization. Yes. Supervisor Preston is the primary proponent and noted that Prop K would be a step in removing a racist legacy in housing. Article 34 of the state constitution passed in 1950 to block affordable housing and exclude Black tenants. Prop K would authorize the creation of up to 10,000 additional units of permanent affordable housing in San Francisco. Prop K would also authorize the creation of municipal social housing, a form of affordable housing for the public good, charging low rents and housing a broad range of incomes. It’s supported by the full board. Vote YES on Prop K.

Proposition L: Business Tax Based on Comparison of Top Executive’s Pay to Employees’ Pay. Yes. This would create an additional tax that would generally apply to all companies conducting business in the city for which the compensation of the business’ highest-paid managerial employee compared to the median compensation paid to the business’ employees based in the city exceeds 100:1. Known as the overpaid executive tax, it’s expected to raise $140 million a year, which would allow the city to hire hundreds of nurses, doctors, and first responders. Corporations can avoid the tax by paying their executive less or raising their employees’ wages. Vote YES on Prop L

Measure RR: Caltrain Sales Tax. Yes. Caltrain is an essential part of the Bay Area’s transportation network. Voters in San Francisco, San Mateo, and Santa Clara counties must all approve this by 66 2/3%. It will save Caltrain from a shutdown by imposing a 30-year one-eighth-cent sales tax in the three counties. Caltrain, like BART and Muni, has had a significant decrease of passengers due to the pandemic. But once people start returning to work or travel, we don’t want everyone using their cars again. Vote YES on Measure RR.

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Article source: https://www.ebar.com/news/news//297487/editorial:_vote_yes_on_all_sf_props

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Coronavirus reopening in the Bay Area: Here’s what each county does and doesn’t allow

The Bay Area continues to emerge from pandemic health restrictions as coronavirus case rates and test rates improve. Most counties have advanced to the second-strictest red tier in the state’s color-coded reopening system, with only Contra Costa and Sonoma still in the most-restrictive purple tier.

California’s online “Blueprint for a Safer Economy” shows each county’s status and spells out which activities and businesses are allowed under that tier. However, each county may choose to keep tighter restrictions. As a result, the state’s website may not reflect what is actually allowed in each county.

Here’s a county-by-county rundown of what’s currently open and closed in the Bay Area, based on local guidance.

SAN FRANCISCO

Tier status: San Francisco has been in the red tier for three weeks, and has met orange tier thresholds for the past two weeks. It has filed a formal request for the state to re-evaluate its data in order to advance to the next tier. San Francisco is conducting more coronavirus tests than any other county in California, and thus its case rate may be adjusted down by the state health department to account for that. A similar process allowed the city to move from the purple tier to the red tier.

Latest assessments: 3.3 per 100,000 case rate, 2.3% positive test rate

 Coronavirus reopening in the Bay Area: Here’s what each county does and doesnt allow

Next week’s potential status? San Francisco could move into the less restrictive orange tier if its case rate remains below 4.

Schools: In-person learning for students up to sixth grade with permission from the health department. SFUSD continues with distance learning. Tentatively, middle schools will be allowed to reopen in October, and high schools in November.

What is currently open:

• Essential businesses like health care, grocery stores, pharmacies, banks

• Restaurants for outdoor dining, pickup or delivery

• Bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms

• Indoor retail, including malls, with 25% capacity, plus closed common areas and food courts;

• Indoor and outdoor personal care services such as hair and nail salons, barbershops, tattoo, piercing and massage parlors

• Indoor gyms and fitness centers at 10% capacity

 Coronavirus reopening in the Bay Area: Here’s what each county does and doesnt allow

• Outdoor museums, zoos, historical sites, publicly accessible gardens and swimming pools with limited capacity

• Indoor museums, zoos and aquariums with 25% capacity

• Parks, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts and outdoor recreation facilities

• Places of worship and political facilities can allow one person indoors and 50 people outdoors with physical distancing

• Indoor funerals with up to 12 people

• Indoor health emergency respite centers, like cooling and cleaner air centers

• Elementary schools for in-person learning, on a rolling basis with approved safety plans (SFUSD continues distance learning)

• Higher and adult education, up to 14 people outdoors (indoors requires approved safety plan)

• Specialized and targeted support services for vulnerable children and youth

• Outdoor family entertainment centers, including drive-in theaters

• Low-contact service businesses like appliance, automobile or shoe repair, car washes, laundromats and pet grooming

• Indoor cleaning services, such as housekeeping and janitorial services, with limitations

• Outdoor activities like walking and biking with proper social distancing

• Construction, real estate transactions and other outdoor businesses with physical distancing requirements

• Child care, preschools, educational programs and summer camps with stable groups of up to 12

• Hotels and lodging

• Tour buses and boats

• Manufacturing and warehouse facilities

• Professional sports games, tournaments and other entertainment venues without spectators

• Curbside library services

What is not open

• SFUSD schools for in-person instruction

• Restaurants for indoor dining

• Indoor wineries and tasting rooms

• Bars, breweries and pubs that don’t offer outdoor sit-down dining

• Hot tubs, spas, saunas and steam rooms

• Indoor movie theaters, community centers and concert venues

• Playgrounds and recreational team sports

• Indoor museums, galleries, zoos and aquariums

• Cardrooms, casinos and satellite wagering sites

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

ALAMEDA

Tier status: One week in red tier 2

Latest assessments according to state data: 3.5 per 100,000 case rate; 2.5% positive test rate

Next week’s potential status? Alameda moved from the strictest purple reopening tier to the red tier on Tuesday. Its current case rate and test positivity rate are below the threshold to move to the orange level. However, the county must remain in its current red tier for at least three weeks before it can move tiers again.

Schools: Despite moving to the red tier, the Alameda County Public Health Department has instructed schools to continue with distance learning. If the county’s metrics remain stable through Oct. 6, the health department will release a phased reopening plan that will include schools.

What is currently open:

• Essential businesses like health care, grocery stores (50% capacity), pharmacies, banks

• Restaurants for outdoor dining, pickup or delivery

• Bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms

• Indoor retail, including malls, with 25% capacity, plus closed common areas and food courts

• Indoor and outdoor hair salons and barbershops; outdoor nail salons, non-medical messages, skin care and waxing services

• Outdoor gyms, fitness centers and non-contact fitness classes

• Outdoor museums, historical sites, publicly accessible gardens and swimming pools

• Outdoor recreational activities, including miniature golf, batting cages, driving ranges and kart racing

• Parks, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts and outdoor recreation facilities

• Outdoor places of worship and cultural ceremonies

• Outdoor political gatherings or protests with physical distancing

• Distance learning for K-12 schools and higher education

• Low-contact service businesses like appliance or automobile repair, car washes, laundromats and pet grooming

• Indoor cleaning services, such as housekeeping and janitorial services, with limitations

• Small outdoor gatherings of 12 or fewer individuals from similar social bubbles

• Outdoor activities like walking and biking with proper social distancing

• Construction, real estate transactions and other outdoor businesses with physical distancing requirements

• Child care facilities and day camps

• Manufacturing and warehouse facilities

• Curbside library services

What is not open:

• Restaurants for indoor sit-down eating

• Indoor wineries and tasting rooms

• Bars, breweries and pubs that don’t offer outdoor sit-down dining

• Indoor religious services and protests

• Tattoo parlors, piercings and electrolysis services

• Indoor gyms and fitness studios

• Hot tubs, spas, saunas and steam rooms

• Movie theaters, family entertainment centers, community centers and concert venues

• Public or private gatherings of more than 12 people

• Playgrounds and recreational team sports

• Indoor museums and zoos

• Cardrooms, casinos and satellite wagering sites

• Door-to-door sales and services

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

CONTRA COSTA

Tier status: Three weeks in purple tier 1

Latest assessments: 6.5 per 100,000 case rate; 4% positivity rate

Next week’s potential status? Contra Costa is currently in the most strict purple reopening tier. It could move to the red tier if its case rate remains below 7.

Schools: Distance learning for K-12 schools and higher education; in-person instruction for TK-6 schools in stable groups of no more than 14 students and two adults with waiver approval.

What is currently open:

• Essential businesses like health care, grocery stores, pharmacies, banks

• Restaurants for outdoor dining, pickup or delivery; bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms; indoor retail, including malls, with 25% capacity, plus closed common areas and food courts; indoor and outdoor hair salons and barbershops

• Outdoor nail salons, non-medical messages and other personal care services that don’t require close contact with the face

• Outdoor gyms, fitness centers and non-contact fitness classes

• Outdoor museums, historical sites, publicly accessible gardens, exhibit spaces, drive-in theaters and swimming pools

• Outdoor recreational activities, including miniature golf, batting cages, driving ranges, shooting ranges and kart racing

• Parks, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts and outdoor recreation facilities

• Outdoor places of worship and cultural ceremonies

• Outdoor political gatherings or protests with physical distancing

• Low-contact service businesses like appliance or automobile repair, car washes, laundromats and pet grooming

• Indoor cleaning services, such as housekeeping and janitorial services, with limitations

• Small outdoor group gatherings

• Outdoor activities like walking and biking with proper social distancing

• Construction, real estate transactions and other outdoor businesses with physical distancing requirements

• Child care facilities and day camps

• Manufacturing and warehouse facilities

• Hotels and lodging

• Curbside library services

What is not open:

• Restaurants for indoor sit-down eating

• Indoor wineries and tasting rooms

• Bars, breweries and pubs that don’t offer outdoor sit-down dining

• Indoor religious services and protests

• Tattoo parlors, piercings, electrolysis services and other personal care services that require close contact with the face, such as permanent makeup, facials and waxing

• Indoor gyms and fitness studios

• Hot tubs, spas, saunas and steam rooms

• Movie theaters, family entertainment centers, community centers and concert venues

• Playgrounds and recreational team sports

• Indoor museums and zoos

• Cardrooms, casinos and satellite wagering sites

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

MARIN

Tier status: Two weeks in red tier 2

Latest assessments: 4.8 per 100,000 case rate, 2.6% positivity test rate

Next week’s potential status? Would remain in red tier 2 based on current case rate.

Schools: Distance learning for K-12 schools and higher education; in-person instruction for TK-6 schools with waiver approval.

What is currently open:

• Essential businesses like health care, grocery stores, pharmacies, banks

• Restaurants for indoor dining with 25% capacity or 100 people, whichever is fewer, plus outdoor dining, pickup and delivery

• Bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms

• Indoor retail, including malls, with 50% capacity, plus plus closed common areas and limited capacity for food courts

• Indoor and outdoor hair salons, barbershops, nail salons, massage therapy, tattoo parlors and other personal services with modifications

• Indoor gyms and fitness studios with a maximum 10% capacity plus outdoor gyms and fitness centers; indoor museums, zoos and aquariums with 25% capacity

• Indoor movie theaters with 25% capacity or 100 people, whichever is fewer

• Outdoor recreational activities, including miniature golf, batting cages, driving ranges, shooting ranges and kart racing

• Parks, beaches, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts, outdoor recreation facilities and limited swimming pool use

• Indoor places of worship and cultural ceremonies with 25% capacity or 100 people, whichever is fewer, plus outdoors

• Outdoor political gatherings or protests with physical distancing

• Outdoor vehicle-based gatherings

• Low-contact service businesses like appliance or automobile repair, car washes, laundromats and pet grooming

• Indoor cleaning services, such as housekeeping and janitorial services, with limitations

• Small gatherings of 12 or fewer people from the same social bubble

• Outdoor activities like walking and biking with proper social distancing

• Construction, real estate transactions, charter boat operation and other outdoor businesses with physical distancing requirements

• Child care facilities and day camps

• Manufacturing and warehouse facilities

• Hotels and short-term lodging

• Libraries at 50% capacity

What is not open:

• Indoor wineries and tasting rooms

• Bars, breweries and pubs that don’t offer outdoor sit-down dining

• Hot tubs, spas, saunas and steam rooms

• Community centers and concert venues

• Playgrounds and recreational team sports

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

NAPA

Tier status: Three weeks in red tier 2

Latest assessments: 4.3 per 100,000 case rate, 2.3% positive test rate

Next week’s potential status? Would remain in red tier 2 based on current case rate.

Schools: Distance learning for K-12 schools and higher education; individual schools and districts and can decide if it’s safe to open for in-person instruction beginning Sept. 14.

What is currently open:

• Essential businesses like health care, grocery stores, pharmacies, banks

• Restaurants for indoor dining with 25% capacity or 100 people, whichever is fewer, plus outdoor dining, pickup and delivery

• Bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms

• Indoor retail, including malls, with 50% capacity, plus closed common areas and food courts limited to 25% capacity or 100 people, whichever is fewer

• Indoor and outdoor hair salons, barbershops, nail salons, massage therapy, tattoo parlors and other personal services with modifications

• Indoor gyms and fitness studios with a maximum 10% capacity plus outdoor gyms and fitness centers; indoor museums, zoos and aquariums with 25% capacity

• Indoor movie theaters with 25% capacity or 100 people, whichever is fewer

• Outdoor recreational activities, including miniature golf, batting cages, driving ranges, shooting ranges and kart racing

• Parks, beaches, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts, swimming pools and outdoor recreation facilities

• Indoor places of worship and cultural ceremonies with 25% capacity or 100 people, whichever is fewer, plus outdoors

• Outdoor political gatherings or protests with physical distancing

• Low-contact service businesses like appliance or automobile repair, car washes, laundromats and pet grooming

• Indoor cleaning services, such as housekeeping and janitorial services, with limitations

• Outdoor activities like walking and biking with proper social distancing

• Construction, real estate transactions and other outdoor businesses with physical distancing requirements

• Child care facilities and day camps

• Manufacturing and warehouse facilities

• Hotels and lodging, including fitness centers at 10% capacity

• Curbside library services

What is not open:

• Indoor wineries and tasting rooms

• Bars, breweries and pubs that don’t offer outdoor sit-down dining

• Hot tubs, spas, saunas and steam rooms

• Community centers and concert venues

• Playgrounds and recreational team sports

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

SAN MATEO

Tier status: One week in red tier 2

Latest assessments: 6.6 per 100,000 case rate, 4.5% positive test rate

Next week’s potential status? Would remain in red tier 2 if case rate, which rose from 6 to 6.6, remains below 7.

Schools: Distance learning for K-12 schools and higher education; individual schools and districts and can decide if it’s safe to open for in-person instruction without a waiver after two weeks in red tier.

What is currently open:

• Essential businesses like health care, grocery stores, pharmacies, banks

• Restaurants for indoor dining with 25% capacity or 100 people, whichever is fewer, plus outdoor dining, pickup and delivery

• Bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms

• Indoor retail, including malls, with 50% capacity, plus closed common areas and food courts limited to 25% capacity or 100 people, whichever is fewer

• Indoor and outdoor hair salons, barbershops, nail salons, massage therapy, tattoo parlors and other personal services with modifications

• Indoor gyms and fitness studios with a maximum 10% capacity plus outdoor gyms and fitness centers

• Indoor museums, zoos and aquariums with 25% capacity

• Indoor movie theaters with 25% capacity or 100 people, whichever is fewer

• Outdoor recreational activities, including miniature golf, batting cages, driving ranges, shooting ranges and kart racing

• Parks, beaches, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts, swimming pools and outdoor recreation facilities

• Indoor places of worship and cultural ceremonies with 25% capacity or 100 people, whichever is fewer, plus outdoors

• Outdoor political gatherings or protests with physical distancing

• Low-contact service businesses like appliance or automobile repair, car washes, laundromats and pet grooming; indoor cleaning services, such as housekeeping and janitorial services, with limitations

• Outdoor activities like walking and biking with proper social distancing

• Construction, real estate transactions and other outdoor businesses with physical distancing requirements

• Child care facilities and day camps

• Manufacturing and warehouse facilities

• Hotels and lodging, including fitness centers at 10% capacity

• Curbside library services

What is not open:

• Indoor wineries and tasting rooms

• Bars, breweries and pubs that don’t offer outdoor sit-down dining

• Hot tubs, spas, saunas and steam rooms

• Community centers and concert venues

• Playgrounds and recreational team sports

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

SANTA CLARA

Tier status: Three weeks in red tier 2

Latest assessments: 4.7 per 100,000 case rate, 2.4% positive test rate

Next week’s potential status? Would remain in red tier 2 based on current case rate.

Schools: Distance learning for K-12 schools and higher education; individual schools and districts and can decide if it’s safe to open for in-person instruction beginning Sept. 14.

What is currently open:

• Essential businesses like health care, grocery stores, pharmacies, banks

• Restaurants for outdoor dining, pickup and delivery

• Bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms

• Indoor retail, including malls, with 50% capacity, plus closed common areas and limited capacity in food courts

 Coronavirus reopening in the Bay Area: Here’s what each county does and doesnt allow

• Indoor and outdoor hair salons, barbershops, nail salons, massage therapy, tattoo parlors and other personal services with modifications

• Indoor gyms and fitness studios with a maximum 10% capacity plus outdoor gyms and fitness centers

• Indoor museums, zoos and aquariums with 25% capacity

• Outdoor recreational activities, including miniature golf, batting cages, driving ranges, shooting ranges and kart racing

• Parks, beaches, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts, swimming pools and outdoor recreation facilities

• Outdoor gatherings of up to 60 people for worship services, cultural ceremonies and protests or political activities

• Car-based gatherings, including drive-in theaters

• Low-contact service businesses like appliance or automobile repair, car washes, laundromats and pet grooming

• Indoor cleaning services, such as housekeeping and janitorial services, with limitations

• Outdoor activities like walking and biking with proper social distancing; construction, real estate transactions and other outdoor businesses with physical distancing requirements

• Child care, summer camps, summer schools and other educational and recreational programs with limits of 12 or fewer participants

• Manufacturing and warehouse facilities

• Hotels and lodging, including fitness centers at 10% capacity

• Libraries with 50% capacity

What is not open:

• Indoor dining

• Indoor wineries and tasting rooms

• Bars, breweries and pubs that don’t offer outdoor sit-down dining

• Indoor gatherings, including religious services and political activities

• Indoor personal services that require the removal of face coverings, such as facials and face makeup application

• Hot tubs, spas, saunas and steam rooms

• Community centers, concert venues and movie theaters

• Playgrounds and recreational team sports

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

SOLANO

Tier status: One week in red tier 2

Latest assessments according to state data: 6.5 per 100,000 case rate; 3.4% positive test rate

Next week’s potential status? Solano County would remain in the red tier if the case rate, which rose from 5.3 to 6.5, remains below 7.

Schools: Distance learning for K-12 schools and higher education. Individual schools and districts can decide if it’s safe to open for in-person instruction without a waiver after two weeks in the red tier.

What is currently open:

• Essential businesses like health care, grocery stores, pharmacies, banks

• Restaurants for indoor dining with a 25% capacity or 100 people (whichever is fewer), plus outdoor dining, pickup and delivery

• Bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms

• Indoor retail, including malls, with 50% capacity, plus closed common areas and food courts limited to 25% capacity or 100 people (whichever is fewer)

• Indoor and outdoor hair salons, barbershops, nail salons, massage therapy, tattoo parlors and other personal services with modifications

• Indoor gyms and fitness studios with a maximum 10% capacity plus outdoor gyms and fitness centers

• Indoor museums, zoos and aquariums with 25% capacity

• Indoor movie theaters with 25% capacity or 100 people (whichever is fewer)

• Outdoor recreational activities, including miniature golf, batting cages, driving ranges, shooting ranges and kart racing

• Parks, beaches, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts, swimming pools and outdoor recreation facilities

• Indoor places of worship and cultural ceremonies with 25% capacity or 100 people (whichever is fewer), plus outdoors

• Outdoor political gatherings or protests with physical distancing

• Low-contact service businesses like appliance or automobile repair, car washes, laundromats and pet grooming

• Indoor cleaning services, such as housekeeping and janitorial services, with limitations

• Outdoor activities like walking and biking with proper social distancing

• Construction, real estate transactions and other outdoor businesses with physical distancing requirements

• Child care facilities and day camps

• Manufacturing and warehouse facilities

• Hotels and lodging, including fitness centers at 10% capacity

• Curbside library services

What is not open:

• Schools for in-person instruction without waiver approval at least until Oct. 6

• Indoor wineries and tasting rooms; bars, breweries and pubs that don’t offer outdoor sit-down dining

• Hot tubs, spas, saunas and steam rooms

• Community centers and concert venues

• Playgrounds and recreational team sports

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

SONOMA

Tier status: Three weeks in purple tier 1

Latest assessments according to state data: 8.3 per 100,000 case rate; 4.6% positive test rate

Next week’s potential status? Sonoma County would remain in the purple tier based on the current case rate.

Schools: Distance learning for K-12 schools and higher education. In-person instruction for TK-6 schools with waiver approval.

What is currently open:

• Essential businesses like health care, grocery stores, pharmacies, banks

• Restaurants for outdoor dining, pickup or delivery

• Bars, pubs and breweries that offer outdoor sit-down meals

• Outdoor wineries and tasting rooms

• Indoor retail, including malls, with 25% capacity, plus closed common areas and food courts

• Indoor and outdoor hair salons and barbershops

• Outdoor nail salons, non-medical messages, skin care and waxing services

• Outdoor gyms, fitness centers and non-contact fitness classes

• Outdoor museums, historical sites, publicly accessible gardens and swimming pools

• Outdoor recreational activities, including miniature golf, batting cages, driving ranges and kart racing

• Parks, golf courses, dog parks, skate parks, campgrounds, athletic fields, tennis courts and outdoor recreation facilities

• Outdoor places of worship and cultural ceremonies

• Outdoor political gatherings or protests with physical distancing

• Low-contact service businesses like appliance or automobile repair, car washes, laundromats and pet grooming

• Indoor cleaning services such as housekeeping and janitorial services, with limitations

• Outdoor activities like walking and biking with proper social distancing

• Construction, real estate transactions and other outdoor businesses with physical distancing requirements

• Child care facilities and day camps

• Manufacturing and warehouse facilities

• Curbside library services

What is not open:

• Schools for in-person instruction without a waiver

• Restaurants for indoor sit-down eating

• Indoor wineries and tasting room

• Bars, breweries and pubs that don’t offer outdoor sit-down dining

• Indoor religious services and protests

• Tattoo parlors, piercings and electrolysis services

• Indoor gyms and fitness studios

• Hot tubs, spas, saunas and steam rooms

• Movie theaters, family entertainment centers, community centers and concert venues

• Playgrounds and recreational team sports

• Indoor museums and zoos

• Cardrooms, casinos and satellite wagering sites

• Offices for non-critical infrastructure sectors

• Public events and gatherings, including nightclubs, convention centers, theme parks, festivals, concerts and live audience sports

Kellie Hwang and Mike Massa are San Francisco Chronicle staff writers. Email: kellie.hwang@sfchronicle.com, mmassa@sfchronicle.com

Article source: https://www.sfchronicle.com/bayarea/article/Coronavirus-reopening-in-the-Bay-Area-Here-s-15588650.php

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New Real Estate Data Suggests A “Bay Area Exodus” Is Underway – San Francisco News

UNITED STATES—A lot of homeowners are leaving San Francisco. How many? Well, according to a new report out of the real estate company Zillow, inventory in SF rose 96 percent between 2019 and 2020.

Remote Work Flexibility

The obvious reason behind this rapid rise in empty homes is the COVID-19 pandemic. As more Californian tech companies allow employees to work remotely, San Franciscans are increasingly interested in finding more spacious homes at more affordable rates.

Incentives to Leave

Interestingly, a few companies now offer employees incentives to move out of the Bay Area. For instance, the software company Zapier is now offering workers $10,000 to help them leave San Francisco. One of the goals behind this initiative is to reduce employee stress by encouraging workers to live in more affordable cities.

California Real Estate Trends

Although COVID-19 accelerated the move away from San Francisco, it’s not the only reason behind this trend. Indeed, real estate specialist, Eric Andrews points out that SF is an outlier compared with other American cities, most of which still have inventory shortages.

For example, Andrews pointed out that San Jose—another tech-centric city in California—hasn’t seen a significant uptick in home availability. When comparing SF with San Jose, researchers found San Jose seemed to attract more families.

Down with Culture, Up with Crime (and Mortgage) Rates

While cost and family appeal might have influenced San Francisco’s real estate numbers, there seem to be other reasons at play. For instance, ever since restaurants, parks, and theaters have been closed due to the pandemic, residents no longer have access to many San Francisco cultural attractions. While there have been some innovations in California cities during the pandemic to help promote health and wellness, for many residents, it just isn’t enough to keep them from moving on.

A few tech employees have also complained about an uptick in crime and homelessness. According to recent data out of the City of San Francisco, there are now at least 8,000 homeless people living in the city.

But perhaps the most significant reason driving residents out of San Francisco is the city’s high mortgage rates. The current median home value in San Francisco is set at $1.4 million. The Golden Gate City also has 13 of the nation’s priciest zip codes.

Where to, Next?

It’s clear San Franciscans are moving out—but where are they moving to? Well, it appears San Franciscans are moving anywhere they could find a good deal.

For instance, Pittsboro, North Carolina has seen many Californians trading in big city life for small town charm.  Realtor Eric Andrews comments that Californian’s are amazed, not only by how much further their dollar stretches, but also by how drastically improved their quality of life can be. North Carolina offers green space everywhere and is never too far from either the beach or mountains.

Recent reports also suggest many San Franciscans are relocating to the Lone Star State. Indeed, the Texas Realtors’ Association revealed the number of Californians moving to Texas jumped 36 percent in recent years.

In response to this trend, many Silicon Valley companies are re-thinking their headquarters. For instance, Palo Alto-based Palantir recently decided to relocate to Denver. As remote work becomes increasingly common, most real estate experts believe this inventory surge will continue in San Francisco.

Article source: https://www.thesfnews.com/new-real-estate-data-suggests-a-bay-area-exodus-is-underway/67541

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Chicago REIT To Pay $1B For Bay Area Life Sciences Buildings: REPORT


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Investor demand for Bay Area life sciences properties might be as high as ever. 

5577c placeholder Chicago REIT To Pay $1B For Bay Area Life Sciences Buildings: REPORT

Chicago-based real estate investment trust Ventas has acquired South San Francisco‘s 721K SF Genesis project and another property in the city for about $1B, according to Commercial Mortgage Alert

San Diego-based life sciences developer Phase 3 Real Estate Partners purchased the then-single-tower site, located at 1 and 2 Tower Place, for $220M in 2015 and opened the 21-story second tower last year. While the 12-story building is fully occupied, the newer tower entered the pandemic with about 8% vacancy, the San Francisco Business Times reported in March. 

Phase 3 is joined by Bain Capital in a joint venture selling the properties, which include a four-story, 72K SF building at 4000 Shoreline Court, Commercial Mortgage Alert reports. Citigroup and J.P. Morgan are supplying a $415M 10-year, fixed-rate mortgage, the outlet said. 

The transaction had yet to be reflected in county property records at the time of this report. 

The deal is one of the clearest signs of a hot life sciences sector in several markets across the country, including the Bay Area. Nationally, Blackstone, one of the world’s largest owners of real estate, said its already-strong interest in life sciences real estate has only grown.

Meanwhile, South San Francisco and neighboring cities continue to receive a host of activity despite the economic slowdown. Bay Area life sciences space saw over 540K SF of gross absorption and 106K SF of positive net absorption in Q2, according to Kidder Mathews

Genesis’ recently completed north tower was the tallest life sciences lab building on the West Coast upon its opening last year, according to Phase 3 and architecture firm Skidmore, Owings Merrill. The project includes a fitness center, a conference center and a seven-story parking structure.

Ventas’ purchase price for the three buildings combined comes out to about $1,261 per SF. It did not respond to a request for comment, and Bain Capital and Phase 3 Real Estate Partners declined to comment. 

A healthcare REIT that owns and operates senior housing, RD real estate and healthcare properties throughout the U.S., Ventas has faced challenges from the senior housing sector’s struggles during the coronavirus pandemic. It reported a second-quarter loss of $159.2M, and its stock is down about 23% year-to-date. 

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 Chicago REIT To Pay $1B For Bay Area Life Sciences Buildings: REPORT

Article source: https://www.bisnow.com/san-francisco/news/life-sciences/bain-capital-phase-3-to-complete-1b-sale-of-bay-area-life-sciences-properties-report-106013

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