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After Large-Scale Remediation, Housing Site Goes into Marina District

SAN FRANCISCO—The result of winning a highly competitive selection process with Chevron to acquire, remediate and build on two sites, DM Development aims to catalyze redevelopment of the northern gateway and provide housing to a neighborhood with historically low inventory.

By Lisa Brown | Updated on October 27, 2016
Residential 2301 Lombard will feature panoramic views of the city, Bay and Golden Gate Bridge.

SAN FRANCISCO—With housing at a premium, new developments take many twists and turns to get to approval stage. And, some are lucky enough to nab prime real estate with enough dogged determination. Two sites of that type are poised for much-needed housing in the Marina.

Positioned at the intersection of San Francisco’s most sought-after neighborhoods– the Marina, Cow Hollow, Russian Hill and Pacific Heights–2465 Van Ness is just blocks from the city’s northern waterfront, between Union and Green Streets. 2301 Lombard is located between two popular shopping and dining streets, Chestnut and Union in the Cow Hollow, Marina and Pacific Heights neighborhoods.

DM Development has acquired and plans to develop these two residential projects in the Marina District. The result of winning a highly competitive selection process with Chevron to acquire and build on both sites, DM Development aims to catalyze the redevelopment of the northern gateway and provide housing options to a neighborhood with historically low residential inventory. DM Development recently closed on $35 million in equity financing for both sites, which are planned to start construction in late 2017, with completion slated for 2019.

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