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Urban Housing Becomes Paramount in San Fran

SAN FRANCISCO-According to M/PF Research, San Francisco is the leader in a recent California trend in which renewed emphasis on housing is taking a hold in urban neighborhoods.

By Michelle Savage | Updated on April 11, 2002

SAN FRANCISCO-A report by M/PF Research, an apartment market research firm, reveals that renewed emphasis on housing is taking hold in urban areas of California, such as San Francisco. This urban housing development coincides with significant commercial development and public works projects, including new office buildings, hotels, convention/meeting facilities and sports venues.

“Population density more than twice the national average makes California a logical choice for urban residential development,” says Joseph Clements of M/PF. “Across the state the stock of existing housing is relatively small compared to the number of resident prospects who work in and around downtown areas. However, getting new projects out of the ground is a struggle, due to limited site availability and very high development costs. In turn, these new properties command sizable rents and sales prices that make affordability a challenge for many households.”

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