Austin KlarVanguard Properties · Lawyer Turned Real Estate Agent

Thousands of New Housing Units Coming to Stonestown SF

Name: Thousands of New Housing Units Coming to Stonestown SF
Uploaded: 2024-07-01T01:00:16+00:00
Duration: 36 s
Channel: Austin Klar
Description: In this brief update, Austin Klar outlines Brookfield Partners' proposal to transform the parking lot at San Francisco's Stonestown Galleria Mall into a…

1 Jul 2024 · 1 min

Watch on YouTube

0:36

In this brief update, Austin Klar outlines Brookfield Partners' proposal to transform the parking lot at San Francisco's Stonestown Galleria Mall into a mixed‑use community featuring between 2,900 and 3,500 residential units, with 20% designated as affordable housing. The $2 billion project would add 6 acres of open park space, a town square with outdoor dining and a farmer’s market, a main‑street corridor offering roughly 150,000 sq ft of retail and restaurant space, and a childcare center. While the exact timeline remains uncertain and the plan still requires approval from the San Francisco Board of Supervisors, Klar notes that the project is moving forward and invites viewers to follow for more Bay Area real‑estate news.

Chapters

Brookfield Partners is working on replacing a parking lot at Stonestown Galleria Mall with several thousand new homes. The developer just entered into an agreement with the city of San Francisco to up the number of units it plans to build from 2,900 to 3,500 at the 41-acre mall site. And 20% of these units are slated to be affordable housing. The development is currently expected to cost at least $2 billion and calls for 6 acres of open park space, a town square with outdoor dining, and a space for hosting a farmer's market. Plans also call for a main street with 150,000 square feet of retail and restaurants, as well as a childcare center. Timing is still very much up in the air and the agreement still needs to be blessed by the Board of Supervisors, but at least things are moving in the right direction. Follow me for more Bay Area real estate.