San Francisco's new zoning rules are about to get their first real-world test — and the implications for the housing market are significant.
As Rob Luecke Jr wrote on r/bayarea (52 upvotes): A developer has proposed an 89-unit condo building at 3300 Geary Boulevard, replacing the former Hong Kong Lounge II site. Because it qualifies for the city's new streamlined housing program, the Planning Department will have six months to approve it once the application is complete.
Six Months vs. Six Years
For comparison, the 120-unit Coronet senior housing project located two blocks away took six years to secure approval after neighborhood opposition, environmental review, and an appeal.
The Geary proposal has grown substantially over time — from 41 units to 62 and now 89, after zoning changes allowed greater density. The project's affordable-housing requirement was also reduced from 15% to 5%, helping make it financially feasible.
Six projects representing approximately 300 new homes are now planned along Geary Boulevard. Whether all of them actually get financed and built remains to be seen, but reducing approvals from several years to potentially six months would be a major change in how San Francisco produces housing.
What This Means for SF Buyers and Sellers
For buyers, more supply coming to market in the Richmond District and Inner Richmond neighborhoods could eventually create more options and moderate price growth. But these projects are still years from completion — new construction timelines run 2-4 years even after approval.
For current homeowners near Geary Boulevard, the density increase is worth watching. More neighbors means more foot traffic for local businesses, but also construction disruption and potential changes to neighborhood character. Understanding your property's position relative to these developments is valuable whether you're planning to hold or sell.
The median San Francisco home sits around $1.4M. At that price, a traditional buyer agent commission of 2.5% is $35,000. With ShopProp, you pay a flat fee starting at $1,995 and get up to $33,005 back at closing.
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Source: SF Chronicle. As featured in NPR, USA Today, New York Post, and Brookings Institution.