The newly developed Shipyard features a selection of mid-rise buildings in a relatively low-density area, consisting mostly of townhouses and condos costing an average of $800 per square foot. Some of the more expensive units offer spectacular view of the bay. The development will establish an estimated 6,500 homes as the neighborhood spans across 500 acres, including 220 acres of parks and recreational areas. Every place comes with quartz countertops, tile backsplashes, stainless steel kitchen appliances, gas stoves, on-site washers and dryers, hardwood or carpeting, and parking, thankfully, since amenities are not close by. The nearest grocery store is two miles away, the closest public school is a mile away, and there are very few businesses in the neighborhood so far. Perhaps as residents move to the area, however, businesses will follow – there is talk of turning the local Crisp Avenue into a main street for businesses. Only one Muni line runs through the neighborhood, in addition to a free shuttle that leads to Caltrain and downtown.
Currently, only about 150 of the new units are occupied, with only a couple dozen more for sale. The rest of the units will be released slowly to avoid flooding the market, with the first 950 units planning to be complete within three years. As part of the Mayor’s Office of Housing Below Market Rate program, 10.5% of the units will be reserved for low or middle income residents.
As for the Shipyard’s artist community – many live at the nearby Shipyard Studios, and their influence can be seen in the outdoor sculptures located around the grounds. The Shipyard redevelopment is creating a new, separate studio complex for artists.