San Francisco Chronicle
From the Article:
As jazz strains wafted over from the brand-new SFJazz Center and homeless people lounged on the sidewalk, Gregg Nelson and Arden Hearing stood in front of a Mid-Market property where they plan to build 120 condos and pointed to buildings where marquee companies Square, Twitter and Dolby have set up shop.
"There's been a tremendous creation of jobs here and huge demand for housing," Nelson said. "There is a compelling, increasing demand for new for-sale housing in San Francisco."
Their company, Trumark Urban, hopes to meet that demand.
In a city where most current construction focuses on rental apartments, Trumark Urban plans to build small and midsize condominium complexes - ranging from about 25 to 130 units each - in core areas around San Francisco, tailoring each complex to visions outlined in neighborhood plans.
Trumark has lined up six sites - in the Mission, Potrero Hill, Cow Hollow, South of Market, Nob Hill and Mid-Market - where it hopes to build 550 condos, ranging from 500 square feet to 2,500 square feet, and from $500,000 to $2 million, plus some below-market-rate units as required by the city. The first groundbreaking is set for spring; most would start construction next year.
Workers, retirees
By year end, it hopes to have identified more San Francisco real estate, with a goal of 1,000 condo units coming over the next few years.
Trumark is targeting two populations: Gen Y tech workers "who want to live in urban areas near their jobs," and Baby Boomer retirees who prefer "walkable neighborhoods to Sun City-style senior housing environments," Nelson said.