During the 1st half of 2013 the Valencia Street corridor saw quite a bit of change. A few new shops & restaurants opened up and several commercial properties either finished up or will soon come online. Below is a quick review of the latest developments.
Located a half block east of Valencia Street at the corner of Mission and 15th, the recently named Vara Apartments is nearing completion. Developed by Avant Housing with CalPERS money, this property includes 202 apartments featuring studio, one, two, and three bedroom floor plans. It also has 7,500 square feet of ground floor retail space, 155 below ground parking spaces, and 1:1 ratio for bicycle parking. Vara Apartments is one of the largest residential developments built in the Mission District within the last several decades.
411-415 Valencia Street was recently completed. This property has 16 condominiums with 1,283 square feet of ground floor retail space. The condos quickly sold out during the 1st quarter of 2013. One bedroom units sold between $495K to $595K and two bedroom units sold between $695K to $822K. The retail space in this building is still available. There are two spaces, one at 687 SF and the other at 596 SF. Both are offered at $5 PSF/Mo.
The old Bombay Ice Creamery at 550 Valencia Street has recently been converted to a restaurant named, West of Pecos. This restaurant serves southwest style American comfort food. West of Pecos is a side project by the owners of the Woodhouse Fish Company.
560 Valencia Street will soon be home to Blue-Dot, a Minneapolis-based designer and maker of modern home furnishings. Blue Dot’s other stores are in the SoHo neighborhood of New York and in Downtown Los Angeles. Their Valencia Street store will total about 5,000 SF.
777 Valencia Street is currently under construction. Upon completion, this property will house two restaurants and a jazz club named The Chapel. The jazz club will be the west coast headquarters for the Preservation Hall Jazz Band. The original Preservation Hall is located in the French Quarter of New Orleans and was established in 1961 by Allen and Sandra Jaffe.
780 Valencia Street has recently been transformed from The Summit café/tech incubator/think-tank into a retail shop named Betabrand. This company is San Francisco based clothing designer and manufacturer.
A new mixed-use project at 798 Valencia Street is nearing completion. This property will soon house 17 luxury condominiums and 3,450 square feet of ground floor retail space. Pricing for the condos should be released soon.
The ground floor at 806-820 Valencia Street was recently renovated. The old Mission Council medical offices are now gone and three new retail tenants have moved in. They include Aggregate Supply (a clothing store), Gingko (a furniture store), and DigitalFix (a stereo/electronic shop). The storefront for Rhea’s (purveyor of some of the best sandwiches in San Francisco) was also updated during the renovation.
Digging deeper into the rumor mill it looks like La Rondalla restaurant at 901 Valencia Street might open during 2013. This restaurant, specializing in stiff margaritas, has been family-owned for 60 years. Over the last few years, the family has renovated the space and it appears as if most of the work has been completed.
While you are here – check out our rundown of the latest developments over on on neighboring Mission Street.
If you are looking to lease a commercial space or purchase an investment property in the Mission District, feel free to give us a call at (415) 385-5263 or send us an email.RELATED CONTENT