Shipyard Resales Hit the Market As Demand Continues

A peek inside a living room at the Shipyard being offered by Lennar Urban.

SAN FRANCISCO—Along with the 100th close of escrow at The San Francisco Shipyard , there are several other milestones within this multi-billion-dollar community. One of those milestones is that two resales within the community’s first buildings, Merchant and Olympia, are now hitting the market for the first time since they sold two years ago, and at a 30% price increase, according to Lennar Urban . As of early April, 100 escrows have closed, more than 170 homeowners have moved in to five completed buildings, eight additional buildings are under construction and a total of 247 homes will be completed by the end of the year. Another four buildings will be completed by the end of 2017, delivering another 132 homes. Eventually, The San Francisco Shipyard will encompass 6,000 homes. “It’s hard to believe that just last March we announced the quick sell-out of the first two buildings and now this community is coming to life as green parks sprout up, public art displays have been installed, social events occur daily and more homeowners make The SF Shipyard their home,” said Sheryl McKibben , chief marketing officer at Lennar Urban. “Buyers who were originally attracted to our attainable pricing, modern design and superior finishes, now begin to see the value in the waterfront views, manicured parks, wide open spaces and easy access to downtown San Francisco, the Peninsula and East Bay. It’s all coming together.” Last year, Lennar Urban also launched The Storehouse, The Shipyard’s first community marketplace. The Storehouse is a destination for Shipyard residents to buy essential items, but also a gathering place for neighbors to meet and get to know one another. It’s ideal for picking up grocery items like milk, bread and pasta, trying new local products like candles and seasonal items, indulging in some sweet treats or grabbing a cup of coffee before work. “My teenage daughter and I were among the first people to move in at The Shipyard when I purchased a townhome last May,” said  Robert Knigge , who just listed his townhome and is moving to a larger three-bedroom home at The Shipyard. “I wanted a neighborhood for my daughter to safely ride her bike and play outside. My Realtor first brought me here when it was only a construction site. But, I saw the potential with the affordable homes, the water and city views, and the proximity to downtown. Now that we live here, every week the neighborhood seems to change. We drive around in our golf cart to see another new park opening or landscape going in. When we go to The Storehouse for coffee on Sundays, there are more people riding bikes, walking dogs and pushing baby strollers. I knew all of these things would eventually happen, but now it’s becoming a reality.” In addition to an array of amenities, hundreds of acres of parks and easy access to downtown, residents will be adjacent to an Urban Innovation District. This integrated community will comprise of nearly five million square-feet of waterfront commercial space, including an emerging business incubator and possibly San Francisco State University’s extended campus. Through purposeful programming and physical design, the district will be activated with coffeehouses, gyms, dining, retail and entertainment venues. Knigge tells GlobeSt.com: “I spent 25 years living downtown and wanted a quiet, safe place for my daughter and me. It is everything I wanted. It is the perfect place: surrounded by water on the edge of Hunter’s Point on a hill where you can see the entire city skyline. It is on the sunniest side with no fog. It’s a hidden gem.”