SAN FRANCISCO | 1177 Market Street (Trinity Place) | 240 FT | 24 FLOORS

[edit]

Originally Posted by nativeguy1964

Im sure people will be smoking in the stairwells, thats what theyll do. They do it already. Or maybe the smokers will all choose low floorsand that will leave more high floors for me.!yay

I'm with you native. Just throw me up on one of the top floors.

*elevator ding*

Just pondering on that topic. I never did get any response from the contact I listed earlier in the thread as far as a seniority list. Any word on your side? You seem to have an especially close eye on all the details.

[nativeguy1964]

Originally Posted by edit

I'm with you native. Just throw me up on one of the top floors.

*elevator ding*

Just pondering on that topic. I never did get any response from the contact I listed earlier in the thread as far as a seniority list. Any word on your side? You seem to have an especially close eye on all the details.

All I can tell you is that they will let us know when the time comes. I wish I had a better idea. But things are moving quickly and on sked - and personally I think they will come in ahead of sked. Prior to that - i understnad they will begin taking tenants though some of the finished units for a look. The process of choosing and moving in is going to take a long time to complete for 300 residents so they want to get the process started as soon as possible

[nativeguy1964]

Besides with several months to go, any current list would change by then. No matter what though - the new apts will be nice no matter what floor u get.

[nativeguy1964]

one nice thing about the first few floors is those full floor to ceiling picture windows instead of the square ones.

[nativeguy1964]

I just hope the pigs don't tear the new place up. you know the little piglets who leave their trash and food in the hall and elevator - the ones who act like they were raised in a mud hut or whos former home was a cardboard box on 6th street.

[nativeguy1964]

my only hope is that we can get a shitload of respectable folks to hurry and move in now and take over. If I were lucy ricardo id be cooking up a scheme right now.

[edit]

Originally Posted by nativeguy1964

my only hope is that we can get a shitload of respectable folks to hurry and move in now and take over. If I were lucy ricardo id be cooking up a scheme right now.

I've had all 32 of my "massage therapists" move into different units this last month just with that in mind.



Hopefully we can just fit them all in one floor and then I'll be renaming the floor "the danger zone". Just Imagen the elevator buttons now... 12,13,the danger zone,15,... Then it's just a matter of getting the elevator to play the top gun theme whenever the floor button is pressed.

No seriously though, the type of crowd in the front office filling out applications as of late has definitely changed since the sfgate article. A bit more of the "planning ahead crowd" rather then the kids that are simply using it to crash at for a month till they can find a closet to rent in the mission.

Also they can't actually be thinking of bringing our current security over. A doorman that actually secures our entering and exiting would be a great addition then say the current "let me see your keys and ID" ones I've come to love whenever entering with a guest. I've walked past soma grand seeing security "dealing with" some bums before just to get around the corner to see our regular bums asleep peacefully.

Except of course Jen.

Quick fact. The homeless woman on mission behind our building that just screams at people in insulting gibberish all day long I've named "Jen". She doesn't appreciate the pet name much but her rent is drastically cheaper then ours. So I figure we're square. Plus it's more like a game trying to understand what insult she's going with every day.

win-win

[edit]

Oh Native! The Million dollar question.

...Dishwashers?

It doesn't look as though there is one in the mock up photo of the apartment. However it's possible I've actually just forgotten what a dishwasher looks like.

I recall seashells?..or something? No wait, that was the Demolition Man movie.

[nativeguy1964]

Dishwashers was my number one million dollar question too -- but I didnt see one in the visit to the mock up....

[BTinSF]

I do not see a dishwasher in this previously posted photo:


Source: http://www.sfgate.com/cgi-bin/blogs/cityinsider/detail?entry_id=37804

but it's hard to believe they would not have them in units they ever expect to rent at market rates (and you can't just leave a big hole in the units that are rent-controlled).

[nativeguy1964]

Originally Posted by BTinSF

I do not see a dishwasher in this previously posted photo:


Source: http://www.sfgate.com/cgi-bin/blogs/cityinsider/detail?entry_id=37804

but it's hard to believe they would not have them in units they ever expect to rent at market rates (and you can just leave a big hole in the units that are rent-controlled).

Then the only units that might have them will be the market rate corner one bedrooms

[nativeguy1964]

but you can totally get some great little portable d/w of varying sizes from countertop size to rollaway size - ( the latter actually provides additional counter sapce on which to set your microwave)

[nativeguy1964]

[nativeguy1964]

[nativeguy1964]

I know that about that crazy lady on mission. She doesn't bother me nearly as much as the losers who hang out on the wall out front all day. I wish trinity would turn the sprinklers on. I'mstill trying to figure out how to hide a mini wireless loudspeaker down there in the bushes so I can freak them out. i think market street should have cameras, speakers and strobe lights mounted on poles so that at night we could monitor the entire street and then press a button and turn on the strobe lights while we speak into our microphones from the comfort of home in an ominous voice... { hey yyou stupid loser fuck - stop beating your crack ho right now are we are going to taser you with our nuclear hovercraft..." lol theyre so high and stupid it would make them shit their pants. god that would be fun.

[nativeguy1964]

you know those "misters" they use in palm springs to keep you cool - they could line market street with those only bigger so at night it would be like rain every 10 minutes. from sun down to sun up... that would both clean the street and keep the street clean.

[nativeguy1964]

in the meantime im trying to figure out how to attach a water hose to my sink.

[nativeguy1964]

They are getting the esterior panels on very quickly. I don't get how they can do it in this wind. This construction compnay is really organized too. They never stop working.

[BTinSF]

Friday, May 1, 2009
Unscathed Sangiacomo pushes ahead on project
San Francisco Business Times - by J.K. Dineen


“We’re very frugal:” Staying away from borrowing kept Sangiacomo out of trouble.

Angelo Sangiacomo is going full speed ahead on Trinity Place.

Despite a recession that has killed new construction across the city, Sangiacomo’s Trinity Properties has topped off the 440-unit phase one of the 1,900-unit Mid-Market development, and is pushing to open the building in the first quarter of 2010, according to Sangiacomo.

The project, being built by the Cannon Group, represents a $175 million investment into the Mid-Market neighborhood, a long-depressed stretch of Market Street that has seen a number of projects languish, including Crescent Heights’ 721-unit two-tower development 1401 Market St. Trinity Place is the largest of just two significant market rate housing projects under construction in greater downtown San Francisco. The other is Jackson Pacific’s 180-unit One Hawthorne St.

The first phase of Trinity Place will house about 360 long-term rent control tenants currently living in Trinity Plaza, a former Del Webb’s Townhouse motor lodge Sangiacomo bought in 1977 and converted into studio apartments. Under the terms of a development agreement between Sangiacomo and the city, Trinity Properties agreed to move all the rent control tenants into the new building at their previous rents.

Sangiacomo said in the end he decided to make larger units than were required under the development agreement. The studio units will be an average of 462 square feet, rather than the 348 square feet in the current building. The studios are designed to feel more like small one bedrooms, with a separated living room and bedroom and a flat screen television that swivels between the two rooms.

“From a business standpoint, I’m going to keep the building a long time and keep it full. Tenants are my bread and butter. I have to take care of them,” he said.

The son of an Italian immigrant builder, the 84-year-old Sangiacomo put up his first six-unit project for $26,500 on Sixth Avenue in the Richmond district and over the next 40 years developed or acquired roughly 10,000 units. Sangiacomo, who was the No. 1 target of rent control advocates and tenant groups in the 1970s and 1980s, does not discuss what buildings his company, Trinity Properties, now owns or how many units are in his portfolio.

Sangiacomo said he has avoided much of the fallout from the real estate bust because he resisted borrowing money to buy properties during the real estate bubble of 2006 and 2007.

“I’m not leveraged. I didn’t go crazy,” he said. “I’m from Genoa, Italy. We’re very frugal. If you do a job, you do it once and you do it right. And then you live with your sins.”

Given how much property values have tumbled in the last year, Trinity CFO Walter Schmidt said the company would take a look at some of the distressed properties that other owners are losing to lenders, including buildings formerly owned by the Lembi Group, another of San Francisco’s largest landlords. The Lembi Group faces possible foreclosure on about 40 properties and has already deeded 51 buildings back to lender UBS in lieu of foreclosure.

“If there is a way to extract those properties so they can stand on their own, sure we would be interested,” said Schmidt. “We always like to be in the deal flow, particularly here in San Francisco.”

After the tenants are moved over to the new building in Trinity Place, Trinity’s next step will be demolition of the current building and completion of the working drawings on phase two.

“We have been in discussions with our architect about engaging them and getting them to move forward (on phase two). Right now, we’re kind of in the home stretch here,” said Schmidt.

Sangiacomo emphasized that he is losing money on the first phase of Trinity Place, but promising to preserve the rent control units was the only way to ever revive a centrally located property he has wanted to build on for 30 years.

“I was tired of fighting and I figured the hell with it,” he said.

[email protected] / (415) 288-4971

Source: http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2009/05/04/story4.html

A continuing loss on Phase 1 should be a powerful motivator to move ahead with Phase 2 which is what I care about. I'm looking forward to seeing the change on Market St.

[nativeguy1964]

Eventually phase on will make money. You know all the talk about the rent control and the low rents - well, it so happens that one bedrooms in the current building are renting for 1895 a month. I can get a one bedroom on twin peaks with a view and parking for 1000 now. Studio rents inteh current building have been going for 995-1395 for the last two years at least - at or slightly ABOVE the going rate for a studio in this neighborhood. There is a lot of turnover here and each time there is turnover they can reset the rents. The rent here continues to go up despite the citywide downturn and the availability of 1000s of apartments all over town now. So by the time the new building opens I have no doubt that most of the units will actually be at, just below, or even above, current market rates here in the civic center/tenderloin area. i don't have any complaints, but I'm just trying to give a little perspective to those anti rent control types who blame world hunger and cancer on rent control. all rent control does is stabilize your rent so you avoid big unexpected increases and decreases.