[Noisebridge-discuss] Spaces and tradeoffs (was Re: viewing report: 50 Juniper)

[Andy Isaacson]

On Thu, Jul 23, 2009 at 05:34:00PM -0700, Praveen Sinha wrote:
> That said, this place has a moveout on demolition clause -- I don't know the
> details of it (although someone said that it is slated in 2 years) and if we
> would be compensated for a moveout, but do we really want to move into a
> place that we will basically need to leave in 2 years or once the real
> estate market picks back up?

Indeed, once the real estate market recovers, the 5th and Clementina
area will be redeveloped.  One of the partners in the property is
CALPERS according to the agent, and they have a specific mission to
advance affordable housing.  The original project plan documents are
still online:
http://www.900folsom.com/

It's a gamble as to how long it will be until a project of this size is
viable in the SF market again.  I don't think that it will happen before
the end of 2012 at the earliest, and it could easily be 2015.  The
developers seem to have the long view in mind.

On the other hand, it's conceivable the market could roar back and have
them breaking ground in 2011.  Seems unlikely, but I have no crystal
ball.

-andy