Top 10 Multifamily Projects Under Construction in the Bay Area
MULTIHOUSING NEWS, Sept 18, 2020- California was one of the first states to impose stay-at-home orders and social distancing rules on construction sites, forcing developers to push back completion dates. San Francisco’s year-to-date deliveries accounted for 0.6 percent of existing stock, less than half of the 1.3 percent national average, according to Yardi Matrix data. Despite that, the metro has delivered 11 properties, totaling roughly 1,550 units.
Some 23,000 units were under construction across 125 properties as of August, with another 120,000 in the planning and prospective stages. Most new projects target upscale renters and include luxury amenities, despite the metro’s affordable housing woes. One solution policymakers and developers have implemented to address the issue is setting aside a percentage of units as affordable, with half of the 10 largest properties currently underway marked to include affordable apartments.