Bayview condo project bought

Houston developer Noteware Development and Goldman Sachs (GS)have purchased 5800 Third Street, a 338 condominium project slated for construction at the former Coca Cola (KO) plant in San Francisco’s Bayview-Hunters Point neighborhood, the firms said in a release.

The $146 million development is the second new housing collaboration between Noteware and Goldman Sachs in the Bayview. Their first project is the 198 unit development under construction on Jamestown Avenue near Monster Park at Candlestick Point, slated for occupancy in January 2008.

The firms have invested nearly $250 million in southeastern San Francisco, according to Goldman Sachs Urban Investment Group Managing Director Alicia Glen.

The firms said the 5.75 acre site, previously owned by the Lennar Corp. (LEN) and Levin Menzies & Associates, will include 291 market-rate and 47 below-market-rate condominiums and 11,000 square feet of retail on Third Street. The condos will likely start in the mid-$500,000s, the firms said. The below-market-rate units will likely start in the mid-$200,000s.

“I think it’s a pretty good project. It depends on how well they interact with the community. We just hope they live up to the entitlements … that we had with the former owners of that project,” said Al Norman, president of the Bayview Merchant’s Association.

businessBusiness & Real Estate

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

The Medical Examiner's Office van on Tuesday, April 23, 2019. (Kevin N. Hume/S.F. Examiner)
San Francisco’s 2020 overdose deaths soar 59 percent to 699

Fatal drug overdoses surged by nearly 59 percent in San Francisco last… Continue reading

Police Commissioner John Hamasaki questions Chief Bill Scott at City Hall on Wednesday, May 15, 2019. (Kevin N. Hume/S.F. Examiner)
SFPD should probe whether officers joined Capitol raid, commissioners say

Chief unaware of any members participating in insurrection

Homeless people's tents can be seen on Golden Gate Avenue in the Tenderloin on Wednesday afternoon, Dec. 16, 2020. (Photo by Ekevara Kitpowsong/S.F. Examiner)
Statewide business tax could bring new funds to combat homelessness

San Francisco could get more than $100 million a year for housing, rental assistance, shelter beds

The Museum of the African Diaspora in San Francisco (a mural by artist Jamie Treacy is pictued) has a lineup of free online programming including activities for youngsters scheduled for Martin Luther King Jr. Day on Jan. 18. (Courtesy Demetri Broxton/Museum of the African Diaspora)
Stanford, Museum of the African Diaspora host MLK Day activities

Online offerings include films, music, discussion

Speaker of the House Nancy Pelosi presides the US House of Representatives vote on the impeachment of US President Donald Trump at the US Capitol, January 13, 2021, in Washington, DC. - The Democrat-controlled US House of Representatives on January 13 opened debate on a historic second impeachment of President Donald Trump over his supporters' attack of the Capitol that left five dead. (SAUL LOEB/AFP via Getty Images/TNS)
House votes 232-197 to impeach Trump a second time

Focus shifts to Senate, where McConnell has signaled he may not stand by president

Most Read