While Planning balked at the proposed approach for securing two separate office allocations for the redevelopment of the historic Central SoMa building at 130 Townsend Street, which is currently home to Tres SF, and the parking lot at 100 Stanford Street which occupies the remainder of the former Inglenook Vineyard warehouse parcel behind, the plans have since been refined and Presidio Bay Ventures is pushing ahead and seeking a streamlined approval of the project.

Two and a half years ago, San Francisco adopted an aggressive plan to add more housing, including affordable homes, along transit corridors. Under the Home SF program, officials hoped to see 16,000 units completed by 2037.

At an October 24 hearing, Planning Commissioners denied an appeal of the approval of a residential project at 65 Ocean Avenue in proximity to the Balboa BART station. Presidio Bay Ventures plans to construct 193 dwelling units on a 0.9-acre site that also includes a 5,942 square foot childcare facility, ground floor commercial, both private and shared open space, and below-grade parking. The residences will be a mix of studios, one, two and three bedroom units with a total of 48 below-market rate units. The planning process involved over three years of community outreach.

A large project using the new San Francisco density bonus received approval from the Planning Commission late last month, and may break ground by June.

The San Francisco Planning Commission on Thursday advanced a 193-unit residential project at 65 Ocean Ave. despite pressure from community advocates to fully study the impacts of the development on the surrounding neighborhood.

The bigger plans for the development would now yield 193 residential units, 48 of which would be offered at below market rates (BMR), with a basement garage for 121 cars and 149 bikes, and a 5,900-square-foot child care facility on the building’s ground floor.

A plan to build nearly 200 homes on Ocean Avenue in the Excelsior District would be the first San Francisco development to take advantage of the new federal Opportunity Zone program, designed to bring investment to economically distressed neighborhoods.

A joint venture between two local commercial real estate firms has acquired the home of a tequila bar and Mexican restaurant in downtown San Francisco, which the firms plan to redevelop into a pair of office buildings. Presidio Bay Ventures and Long Market Property Partners purchased 130 Townsend St. from owner Gregory Melanson for $24 million, or about $2,413 per square foot.

From speaking five languages to regularly pulling 12-hour work days, Presidio Bay Ventures' Managing Director Cyrus Sanandaji is living in the fast lane of San Francisco's real estate market.

Presidio Bay Ventures has sold a luxury Oakland apartment complex to an undisclosed buyer in the East Bay's largest per-unit multifamily transaction to date. The Amador, a 25-unit building at 4445 Piedmont Ave., went for $19.4M, or $776K per unit, according to CBRE, which represented Presidio Bay Ventures. The transaction closed in May.

The Garland, a mixed-use downtown building home to the historic Globe Theatre, has received $7.8 million in financing for energy, water and infrastructure improvements. The money was provided by Sausalito-based CleanFund Commercial PACE Capital Inc.

CleanFund, the leading nationwide provider of Commercial Property Assessed Clean Energy (C-PACE) financing, today announced providing $7.8 million for the energy, water and related infrastructure improvements supporting the adaptive re-use of The Garland, an 11-story, 82,000 square-foot downtown Los Angeles mixed-use property in the burgeoning Broadway Theater District that is also home to the Globe Theatre.