Ventas has purchased the recently completed Genesis Office Complex for $1 billion. The project, which features two sleek glass towers, will add considerable depth to the companies growing portfolio of properties. Genesis wrapped up construction in 2019, yielding 721,000 square feet of office space for the South San Francisco market.
This week’s big little permits take away is its uptick in ADU filings. Even with Indigenous Peoples’ holiday providing a lull on Monday, planners picked up the pace for the rest of the week. This article covers over 128 new units of apartments and ADUs across the Bay Area plus Sacramento, as well as twenty-one single-family houses. Our map shows how widespread the permits were across the city of San Francisco, no more than a few in any one neighborhood. Some unusual and significant little permits include a large wine storage building in Santa Clara County and additional classrooms filed for the Athenian School in Danville.
This week, the biggest little permits include over sixty additional dwelling units, a 30,000 square foot new medical facility in Alameda, new monuments in Sacramento, and even a treehouse in Palo Alto. At this pace, over three thousand ADU’s would be produced within a year. Along with ADU’s, nineteen new single-family houses were applied for and thirty-four Tesla power walls across the counties. Perhaps the most surprising was a two-story additional dwelling unit in Palo Alto with an estimated construction price of nearly $1.4 million. If ever there was a point where an ADU became just another single-family house, this might be a contender.