85 New Homes to be Built on Redeveloped Land in San Francisco Bay Area.
Approved in 2006, the site is part of the city's downtown development plan. It calls for residential development of the nursery, and a mix of residential and commercial development on adjoining properties. The New Home Company said they will build a wide range of homes on the site, "including 50 units for seniors, 29 single-family homes, and six below-market-rate cottages," says John Caulfield. The land was of great interest to them because it is located right over the Golden Gate Bridge.
"The San Francisco Business Times and the Marin Independent Journal report that the redevelopment has been stalled since August 2010, when The Irving Group-which represents the Niven family, the landowner since the 1920s-sued the property's developer Larkspur Housing Partners, alleging that the developer had voided its contract by not closing escrow in time for a July 1 deadline," said Caulfield.