From April 23rd to the 30th, San Francisco received 909 applications for a building permit for a total of $217,789,926. This is an increase from the previous week of about 14% in new permit applications and a 55% increase in total estimated construction cost compared to last week.

While those are big numbers since we started doing the trend analysis, permit applications is actually down about 10% on the week year over year while construction cost is way up. This same week last year had 990 applications last year for a total of $45,444,366.

Year to date, construction spending is still way behind but certainly trending in the right direction. In 2018, estimated construction spending is $1,317,988,298 on 13,411 jobs while at this stage last year we were sitting at $5,265,579,419 on 54,595 permits.

While this years totals are still way down, the average price of a building permit is up a few percentage points. At this point, the average permit costs $98K while it cost $96K last year. With such a small difference, it could likely be due to inflation.

This Week’s Biggest Permits

Now lets dig into this weeks numbers. We saw a big jump in total cost of construction, so I’m going to guess that we’ll have a few large construction jobs.

1140 Harrison St
Number of Permits: 1
Cost: $80,000,000
Description: Build a 7 story structure with 371 units
Analysis: 1140 Harrison is the biggest permit this week. The owners, MHM Properties, filed a permit to convert this building into a 7 story mixed use building with 371 apartments. I don’t know about you, but I would love to see 371 more units added to downtown SF.

625 Gilman Ave
Number of Permits: 1
Cost: $65,000,000
Description: Build a 6 story affordable housing apartment building Analysis: 625 Gilman is an undeveloped site over by the old Candlestick Park site. There have a been a number of permits filed over in this area as the city looks to redevelop and add housing to different parts of the city.

1301 Pierce St
Number of Permits: 1
Cost: $7,192,697
Description: Seismic upgrades
Analysis: 1301 Pierce is a commercial garage owned and operated by the city and with a focus on seismic compliance, it makes sense the city would take this time to upgrade their structures.

These three permits combined for more than $150 Million of the weeks $217 Million haul. If you remove these, it looks like a pretty normal week.

Credit

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Mike Hardy

Mike is the founder of Local Insights, a real-time data provider for property records, building permits, and tax assessments

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