Two important issues in the San Francisco area -- housing and parking -- will most likely receive some relief due to a new real estate project. This commercial real estate project will involve a brand-new parking garage along with a transit village that will contain 600 units. The garage and village will go up near a Bay Area Rapid Transit station.
Work on the parking garage was slated to start in early September. It will add 100 spaces at the BART station and will cost around $42 million. This new garage will be erected next to an existing garage in the station's south parking lot. The existing garage will stay open and available during the construction, and efforts will be made to minimize the construction's impact on passengers in the area.
The garage is just phase one of the real estate development and should be finished by the fall of 2018. The development will also include almost 600 apartments along with pubic plazas, restaurants and shops. The setup will allow those in the area to use their automobiles less while still having convenient access to various amenities.
Commercial real estate can be a solid investment due to the profit potential. The projects also benefit the communities in which they are located. However, dealing with this type of real estate is not always a smooth process, and unfortunately, a snag here or there may end up causing one's investment dreams to die even before a project gets started. An attorney in San Francisco can help with navigating the legal issues, including the trickiest and most complicated commercial real estate situations.
Source: Walnut Creek, CA, Patch, "Transit Village Construction To Start In Walnut Creek", Sept. 7, 2017