San Francisco Business Times
From the article:
Snapping up a waterfront condo under a half-million dollars with views of the downtown skyline and the bay may sound impossible in San Francisco, but that is what Lennar Urban is promising with its launch of the Shipyard in Hunter’s Point.
The sales center for the first 88 homes kicks off Saturday dropping new inventory into San Francisco’s crunched housing market. The first units, comprised of townhomes and condos, range from the mid $400,000s to $700,000s.
“The homes are going to be a breath of fresh air — a lot of people are getting priced out of San Francisco,” said Sheryl McKibben, vice president of sales and marketing at Lennar Urban. “We can’t build them fast enough.”
The project — more than a decade in the making — will transform a 758 acres of former military base into a new neighborhood with more than 12,000 new homes once it’s fully built out.
Lennar started the huge project with a 25 townhomes called the Olympia and the 63-unit Merchant condo building that sit on a hill off of Innes Court in Hunters Point. All of the units, which range from 500 to 1,500 square feet, come with a parking space.
The developer plans to finish its first model homes this summer and welcome the first residents in September.