Since 2015, the East Bay area has seen the biggest spike in construction spending in over a decade. The Oakland, Fremont and Hayward metro area has received roughly $4.8 billion in new construction spending since 2015. The majority of new construction has been focused on residential real estate that includes apartments and condo buildings.
In Oakland, rent averages bubble around $1,600 a month, making recent construction projects a sigh of relief to locals and those moving into the San Francisco Bay Area. There’s a large demand for housing in San Francisco, and even though construction spending is up 92 percent since 2015, forecasters fear that the relief will not be enough for middle-class workers in the area.
Numerous construction projects are currently in the pipeline for completion, we’ve compiled a brief list of some of the high rise buildings set for completion by 2017.
This new high-rise climbs to 70 stories high with 435,000 sq.ft. of Class A office space. A collection of 67 residences are located on the upper floors. Residents and office tenants will have access to 11 transportation lines via skybridge. Floor-to-ceiling windows, landmark architecture and stunning views of the Bay and City are some of the features available.
The first of two 13-story towers is under construction and set to be completed August 2016. Located in Pacific Heights, the Rockwell condo project will feature 260 condos starting in the low $700,000s for one-bedroom units, with less than 800 square feet. Custom finishes, specialized floor plans and cinematic views round out the luxury perks available when purchasing one of these condos.
Located two blocks away from Transbay Transit Center, this project is currently under development and is projected to house 410 units. Designed by Arquitectonica, an extra 57 units can be added to this project. This complex is designed to attract technology workers and young professional employees with 85 percent of the apartments being market rate. This will be the first With 403 apartments and 35 floors, this multifamily building will be ready to move in tenants in late 2016.
Construction Equipment For Rent in San Francisco, California
BlueLine Rental provides construction equipment rentals in the San Francisco-Oakland California area. BlueLine Rental rents equipment to government contractors, builders, construction companies, and people working on home improvement projects. Reach Forklifts, Boom Lift & Material Handlers are available for rent at the San Francisco BlueLine Rental location to help you complete your construction project when moving materials around a building in its final stages of construction.