Wednesday, February 27, 2008

The Dogpatch

If you look on a map, this area will be labeled as the Central Waterfront. If you stop a San Francisco resident on the street and ask how you get to the Central Waterfront neighborhood, you might be met with a blank stare. It is much more commonly known as the Dogpatch. This is a neighborhood with an extremely rich history, and a very bright future. It is located at the bottom of the eastern slope of Potrero Hill. It lies between Mariposa and 23rd, and the 280 Freeway and Illinois Street. This is only nine square blocks.

The Dogpatch began to take shape in the mid 1800s as an important center for heavy industry. This was a true working class neighborhood. Many homes were built between 1860 and 1910, and many were built by the homeowners themselves. Architect Jon Cotter Pelton Jr. often published his designs in a local bulletin to make it possible and affordable for the workers to build their own homes. The Dogpatch is now officially recognized as a historical neighborhood.

It is also being recognized as one of the most up and coming neighborhoods today. It has become the home of many newer live work developments designed with the artist community in mind. It has also recently become much more accessible with the addition of the "T" Third Street light rail which will get you downtown in just minutes. The Dogpatch is also surrounded by the Mission Bay, which is the largest redevelopment plan in San Francisco's history, and by the new UCSF research campus.

In today's housing market, you will most likely see lofts or new condominiums available in the Dogpatch. The Victorians are still in existence, but rarely for sale. There are twelve active listings at the moment; eleven of which are lofts or condos. Six of those loft/condos are in one development, Esprit Park.

We actually just toured this development with some clients yesterday. The models are not yet finished and they are one third of the way sold. It is quite amazing how many people are willing to purchase their home without ever setting foot in it! There are a lot of great things about; they are using quality finishes, green materials where they can, and two of the buildings are the original brick and timber structures. There is the obvious great location and sunny weather. My favorite thing was that the smallest floor plan is over 800 square feet! So many of these larger new complexes start with studios at 400 square feet; I thought this was refreshing. I believe their models should be ready sometime in March.

The units in Esprit Park are condominiums, but the most common product in the Dogpatch are lofts. Those that are currently available range in price from $529,000 to $699,000. Only nine lofts have sold in this neighborhood in the past six months at an average price of $784,000. Most of the sold units were two bedrooms, and the current active listings are mainly one bedrooms.

The only two bedroom loft that is currently available is 1325 Indiana #102.
It is two bedrooms, two and a half baths, fourteen hundred square feet, and it has a deeded patio and one car parking. It is a nice building and a lovely unit; one problem is the current construction of a new building being erected next door.

Last but not least, we can't forget to mention the plans for Pier 70, which is one of the largest ship repair yards on the west coast. This will be turned into a bike and walking pathway that will circle the bay and make the waterfront much more accessible. The Dogpatch is defintely a neighborhood you want to keep your eye on!

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