Entry-Level Price Point and Walkability Lend to Housing Appeal

A mixed-use property in the Mid-Market area will have housing and retail space.

SAN FRANCISCO—The development of a mixed-use property comprised of 90 for-sale housing units and above-ground-level retail space at 1075 Market in the Mid-Market area is progressing. Commercial real estate investment banking firm George Smith Partners arranged $34 million in ground-up construction financing for the project, according to its principal, Jonathan Lee, senior vice president David Stepanchak and vice president Adam Candler.

“It took our team just two years for entitlement for the project, which is fast for San Francisco. The city is focused on redevelopment in Mid-Market, along with transit-oriented developments,” Lee tells GlobeSt.com. “There are less than 30 parking spaces for 90 units and 12 below-market rate units on this project. It is priced at $800,000 to $900,000, which is more affordable than most projects of its kind.”