🥇San Francisco Rides to the Top of Global Transit Rankings

Driving the news: For the second time, San Francisco has clinched the top spot in the 2024 Urban Mobility Readiness Index, which evaluates 70 cities on transit adaptability. Key factors include accessibility, resilience, and technology adoption.

The City’s leadership in robotaxi implementation and electrifying public buses played a pivotal role in its ranking.

Details: The study, conducted by UC Berkeley and the Oliver Wyman Forum, lauded San Francisco for excelling in a new "technology adoption" subcategory:

• Autonomous vehicles and AI integration were major contributors.

• Investments in EV charging infrastructure further bolstered the City’s score.

• And a $40 million allocation by Mayor London Breed to develop affordable housing near transit hubs bolstered the ranking.

   

Why it matters: San Francisco’s success highlights a promising local vision for public transit, blending technological advances with commitments to sustainability. As the region contemplates a greener, more accessible future, these efforts reinforce its reputation as a global leader in urban mobility.

The big picture: While San Francisco excels in innovation, it lags in public transit efficiency compared to global peers like Singapore. Issues such as cycling infrastructure gaps and hilly terrain also present ongoing challenges.

What’s next: Global cities like Los Angeles and Shanghai are pushing mobility boundaries with air taxi projects. San Francisco may need to explore similar bold initiatives to maintain its top ranking.

The bottom line: Despite challenges, San Francisco’s transit system stands as a beacon of innovation, proving that future-forward planning pays dividends.

🥂Raise Your Glass! Top Spots for New Years Eve in San Francisco

Driving the news: San Francisco’s dining and nightlife scene is pulling out all the stops this New Year’s Eve, offering a mix of festive dinners, lively parties, and unique experiences. From casual bites to Michelin-starred feasts, there’s something for every celebration style and budget.

Here’s a taste of what’s on the menu for the big night:

Radhaus: Kick off your day with a DJ, $5 elderflower spritzes, and panoramic views of the Golden Gate Bridge. A perfect stop for pre-party vibes. Full menu here.

El Lopo: Enjoy a four-course tapas menu for $89 or join the Porron competition for a chance at weekly wine refills in 2025. Full menu here.

Shuggie’s: This Mission spot offers a house party with live jazz, passed apps, and drink packages starting at $88. Full menu here.

Left Door: Celebrate with caviar, champagne, and cocktails at a cozy $100 cocktail party in the Marina. Full menu here.

Mattina: Opt for an à la carte dinner featuring dishes like pesto risotto, or take home a carbonara pasta pie for a low-key celebration. Full menu here.

Prelude: Indulge in a luxurious five- or eight-course meal ($155-$245), with options to attend the Jay Hotel’s NYE party for a midnight champagne toast. Full menu here.

Besharam x Lion Dance Cafe: A vegan-friendly dinner pairing Indian and Southeast Asian flavors for $175, with a Bollywood pop DJ and family-style service. Full menu here.

7 Adams: Savor a five-course Michelin-starred meal, complete with an aged ribeye and a Champagne toast at midnight for $175. Full menu here.

Wayfare Tavern: Chef Tyler Florence’s multi-floor extravaganza ($300+) features jazz, martini fountains, seafood towers, and a disco dance floor. Full menu here.

Why it matters: San Francisco's vibrant culinary and cultural scene ensures locals and visitors alike have access to world-class options for ringing in 2025. The variety of offerings—from affordable daytime gatherings to high-end feasts—showcases the City’s inclusivity and flair.

The big picture: Whether you’re a foodie, a partygoer, or a homebody, San Francisco’s NYE lineup makes it easy to tailor the night to your style. Restaurants and bars are blending creativity with tradition to create unforgettable experiences.

What’s next: As New Year’s Eve draws closer, reservations are filling up fast. Book early to secure your spot and toast to 2025 in true San Francisco style.

🎥 Coming to San Francisco: The Multi-Billion Dollar Treasure Island Project

Is Treasure Island SF's Next Great Neighborhood?

San Francisco's ambitious $6 billion+ Treasure Island project is transforming the former naval base into a groundbreaking waterfront community: 8,000 new homes, 300 acres of parks and open spaces, a 7-minute ferry connection to Downtown SF, innovative environmental design addressing sea level rise, and new retail corridors along the scenic Clipper Cove.

Discover how this historic redevelopment is creating San Francisco's most unique mixed-use neighborhood in the middle of the Bay.

🧩The Housing Puzzle: What SF’s Market Says About Affordability

Driving the news: San Francisco’s housing market is painting a divided picture in 2024. While home prices have stabilized after a correction in the wake of aggressive interest rate hikes, rents continued climbing, underscoring demand for urban living and setting the stage for innovative solutions to meet housing needs.

Details: Home prices remain between below their 2022 peak, presenting a rare chance for prospective buyers to enter San Francisco’s market at a relative discount. On the other hand, average rents, now at $3,300 per month, reflect a strong desire to live in the city, reinforcing San Francisco’s enduring appeal.

Surrounding counties like Alameda and Marin show price recoveries, hinting at potential rebounds in San Francisco as the economy stabilizes, especially with leveling off of office and retail vacancies.

Why it matters: The current market represents a window for strategic investments and policy shifts. Lower home prices can help expand access to homeownership, while rising rents highlight the importance of accelerating housing development to support demand.

The big picture: With state-mandated goals for 82,000 new homes by 2031, San Francisco has an opportunity to reimagine its housing strategy. Fast-tracking building approvals and incentivizing new developments can bridge the gap between current production and future needs.

By the numbers:

• Home sales in San Francisco: Up 10% year-to-date, signaling renewed interest despite challenges.

• Housing permits in 2024: 742 approved through October, leaving room for growth to meet state goals.

   

What’s next: By capitalizing on existing demand and focusing on solutions, San Francisco has the chance to chart a path that supports both renters and buyers. Building partnerships, streamlining approvals, and exploring creative financing models could unlock housing potential.

The bottom line: San Francisco’s housing market isn’t just about challenges; it’s about possibilities. With careful planning and action, the City can turn this moment into a foundation for more affordable, accessible housing for all.

📊 Market Trends

Renewed purchase demand in San Francisco has caused prices to increase compared to last year. Over the past quarter compared to the same quarter last year, average price per foot of single family homes rose 3.7%; median sale prices rose 4.8%; and average prices rose 0.4%.

The condo and co-op market showed even greater strength: average price per foot rose 3.4%; median sale price rose 9.1%; and average sale price rose 7.2%.

In contrast, Marin County prices fell, as demand slowed slightly compared to last year: average price per foot fell 2.2%; median sale prices were flat; and average sale prices fell 1.3%.

While relatively weaker, demand hasn’t crashed in Marin, and supply isn’t growing rapidly. Monthly supply levels still remain firmly in “seller’s-market” territory (1.7 months), so there’s no reason to believe an imminent crash is coming. But, as always, I’ll have my eyes on the data and keep you updated. Reach out with any questions.

🗞️ In Other News…

• Multiuse regional events center is headed to Dublin

• A Luxe Sleeper Train Will Soon Connect San Francisco and Los Angeles

• S.F. Great Highway: First details on city’s plan for art installations in new park