Growing up, I would visit my Father at his job sites, watching contractors pour concrete or landscapers planting around a new terrace with the clamor of nails and heavy machinery around us. As a builder and developer, my Father educated me on the many intricacies of new construction, green construction, heating and cooling systems, inspections - you name it. He would point and pry, introducing me to the engineer, architect, electrician - everyone under the sun. This world is one I feel comfortable in. Yet, given my familiarity, I am constantly enamored by the sheer volume of construction in Pacific Heights. Yesterday, I went for one of my typical walks in the neighborhood and could have counted 20 different construction projects on Vallejo Street alone. I'm not talking a new sidewalk and a few cosmetic improvements, I'm talking about stately buildings completely demolished down to the bedrock to accommodate newly appointed, state of the art single-family homes. The neighborhood is alive with construction crews, cranes, workmen on their lunch breaks - it feels almost surreal, as if you're walking through a movie set.
As most of you know, Pacific Heights plays host to some serious real estate. As evidenced by SF Curbed, some of these home owners pay close to half a million in real estate taxes annually. If you walk the neighborhood in the evening, you'll notice that a handful of these homes are empty, including the Pincus' home that was just listed for $18M. As inventory is limited, pockets are deep and demand is high, it will be interesting to see how the neighborhood changes throughout all of these projects - a subject of true fascination.