600 Innes Ave - Palmilia By the Bay Site 3.21 Acres of Residential Land Offered at $26,522,481 CAD in San Francisco, CA 94124

Palmilia By the Bay is an exceptional proposed project located in the thriving city of San Francisco, California.
The subject property encompasses a large parcel of land totaling 139,908 square feet (approximately 3.21 acres) and is designated for the proposed development, Palmilia By the Bay. This development project features a gross building area of approximately 494,321 square feet, comprising 224 residential units, 24 of which are designated as inclusionary housing, and 20,000 square feet of retail and commercial space distributed across two structures. Palmilia By The Bay is part of the Hunter's Point Phase 1 development, a city effort to revitalize the area into a modern mixed-use neighborhood.
With a maximum height of 55 feet the plan is divided into two projects. Project A details the construction of 178 units for rental purpose and 20,000 square feet of retail and commercial space. Furthermore, Project A will feature a 273-space parking garage, providing dedicated parking for each residential unit and ample space to accommodate the needs of retail tenants. 10,000 square feet will be allocated for an anchor tenant with various retail, accounting for the remaining square feet. Project B will include 46 residential units with the purpose of individual sale.
The subject property assemblage offers the potential for a quicker return on investment should the project be approved and construction completed. Investors have the opportunity to acquire a proposed project located in the world-class city of San Francisco, California.
The investment appeal of this asset is driven by San Francisco's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of the Bay Area, Palmilia By The Bay presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, and access to shopping, dining, and entertainment options.