Central Station

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Monday, October 29, 2007

The Clocktower Connection

I went on a tour last week with Rick Holliday that started at the Emeryville Warehouse lofts, then went to the Pacific Cannery Lofts and finished at the Clocktower in San Francisco. All are Holliday Development & David Baker + Partners communities, and they all share some key characteristics, from the interior courtyards to a wide mix of well designed lofts.

As we walked through the Clocktower, a for-sale flyer was outside one of the lofts, listed for $899,000. I had literally been standing at the Pacific Cannery Lofts 10 minutes earlier, walking through a comparable loft that when finished will likely be $450,000. Both have the exact same architect (whose office was only a few doors down), exact same developer (who was standing right next to me), and in many people’s opinions the Cannery stands to be an even better project because of the great bones of the existing building combined with 20 years of experience. Doing the quick math, being 10 minutes away saves me $450,000...about $45,000/mile.

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