Bayview Residents concerned with real estate changes
April 8, 2017
Longtime residents of Bayview have voiced their concerns over the sudden trend/change that they fear will eventually push them out of their San Francisco neighborhoods.
The fear is attributed to the rapid renovation and growth of home prices as well as the introduction of the tech bus transit system that was resurrected down the 3rd street corridor, according to an article by the SF Bay Area CBS.
Matt Fuller, president of the San Francisco Association of Realtors, attributed the sudden transformation to the impact from Silicon Valley.
“Part of it has been kind of the shift south in the center of gravity of San Francisco real estate,” Fuller said. “People used to want to be in our central or north central neighborhoods as their first choice, now because of Silicon Valley, people would prefer to be on the south side of the city because it will save them 30 minutes on their commute.”
Al Norman, a resident of Bay View, is not happy with what he describes as this gentrification, which seems is trying to push him and his neighbors out.
Others like resident Shamann Walton, who is the current president of the San Francisco Board of Education, understands Norman’s trepidation.
“It’s definitely hard to overstate the change, especially up and down the 3rd street corridor,” said Walton.
It wasn’t that long ago that a median home at Bay View was listed at $360,000. Currently those same homes are now priced at $750,000, a 108 percent increase.
The same issue arose in the Mission District and the city is trying to prevent that same situation where new residents squared off against those who have called the neighborhood home for years.
“Nobody is going to be against economic opportunity or economic drivers and jobs,” Walton said. “But what we have to do is make sure that opportunity that comes is available to the people who have been here forever.”
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