San Francisco has one of the most inflated real estate markets in the country. It has a large population with a relatively small geographic area, so potential home and condominium owners end up paying a lot more to own a place to live. One of the ways to decrease the cost of housing is to make the size of living units smaller. This isn’t always possible due to zoning regulations, but architect George Hauser has found a part of the city where he’s come up with an innovative design for a 250 square foot condominium.
Hauser has stated that they’re not for everyone. He stated, “It’s not the last place a person might own, but a great place to spend three to five years as a young single … to build equity and move up; you’re in a small space with great amenities and the resources of the city” to the San Francisco Chronicle.
This size of apartment unit is actually very common in Japan, but hasn’t yet hit the United States. These units feature a bathroom, a small kitchen with a two burner stove and mini sink, a convertible bed/sofa, and even a small deck! On the ground floor, there’s a café and a number of additional retail spaces that will be available to rent.
The units are definitely fitted for luxury, so the price per square foot isn’t the greatest. You’ll end up spending approximately $1100 for every square foot in your condo. At the end of the day, you’ll pay anywhere from $279,000 to $330,000 depending on which amenities that you opt in for. On top of the price of the unit, you’ll have to pay an additional $270 per month for operating costs and other dues.
With the economy not doing so well, they’re even offering their own “economic stimulus sale” in hopes of drumming up business in the area’s depressed real estate market. Units that were selling for $320,000 are now available for $240,000 and units that were available for $280,000 are now available for $220,000.
The apartment center is actually complete and you could even go see the place if you’d like. Throw “766 Harrison Street, San Francisco, CA” into Google Maps and you’ll be able to see its destination. The name of the building is “Cubix Yerba Buena” and the company even has their own website.
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