search

The Real Deal Logo

Trending

Housing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MTides Equities faces three foreclosures in Fort WorthTides Equities faces three foreclosures in Fort WorthDevelopers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it out
Residential
San Francisco

Flurry of residential projects could boost Mid-Market

Over 2K new units, along with hotel and retail space have been completed or are in works

District 6 Supervisor Matt Haney said influx of new residents will "reinvigorate" San Francisco's Mid-Market (50 Jones, Handel Architects LLP)
District 6 Supervisor Matt Haney said influx of new residents will "reinvigorate" San Francisco's Mid-Market (50 Jones, Handel Architects LLP)

A number of construction projects in Mid-Market that include 2,000 residential units, a new hotel and retail space are looking to breathe new life into the troubled area.

The stretch of central Market Street between Mason Street and Van Ness Avenue has experienced a significant amount of store closures and continues to grapple with crime, but the recent projects could provide a long-term lift, according to the San Francisco Chronicle, which tabulated the developments.

Projects such as 50 Jones and 1550 Mission Street have brought almost 900 residential units to the neighborhood, according to the report. Meanwhile, 950 Market Street will include 242 residential units and a 236-key hotel; and another neary complex will bring 500 units and a 50,000-square-foot Whole Foods, the Chronicle reported.

Read more

Sign Up for the undefined Newsletter

But the area is still struggling to rebound from the pandemic and the WFH world it spawned. Before Covid, the grocery store and food hall at Twitter HQ, called Market on Market, had 18 vendors. Only three vendors remain.

Supervisor Matt Haney, who represents District 6 — including Mid-Market — said the influx of new residents to the area will “reinvigorate” the thoroughfare, the report noted.

“We were overly dependent on big offices before the pandemic,” he said.

[SFC] — Victoria Pruitt

Tags
Mid-MarketRetail