Over the years, we have been part of many successful development projects. We have seen
what works and, occasionally, what doesn’t. While there is no set formula for success, we have
distilled our development philosophy down to these guiding principles:

Why San Francisco? It starts with a love of place but is solidly grounded in real estate fundamentals. The formula is quite simple: people follow jobs, and vice versa. With the center of gravity of the tech sector shifting north from the Silicon Valley and a growing pool of echo and baby boomers flocking to San Francisco, the demand for new housing is strong and shows no signs of slowing. Even with a healthy development pipeline, the production of new housing units over the next 30 years won’t be adequate to meet the demand of San Francisco’s ever growing population, making our SF-focus a fundamentally sound investment strategy over both the short and long term.

In a dynamic marketplace, it’s critical to be flexible and nimble. As we pursue our core investment strategy of acquiring, entitling and developing new residential and mixed-use communities on underutilized infill sites – the “diamonds in the rough” that are indigenous to the urban fabric of San Francisco – we have the knowledge and experience to respond to the specifics of each opportunity in order to maximize value. With expertise in both condominium and apartment development, we are not limited to a single investment strategy. And we also have the luxury of taking on projects of various sizes, with the resources to pursue larger projects and the organizational flexibility to take on smaller deals.

"Cities have the capability of providing something for everybody,
only because, and only when, they are created by everybody."
— Jane Jacobs

In a frenzied market, it’s easy to get caught up in the moment. While not afraid to be opportunistic and aggressive, we believe that a disciplined, data-driven approach to underwriting is the key to consistent, high-quality returns and long-term success. For every development opportunity we look at multiple exit strategies and sensitivity test the most critical assumptions. Our approach doesn’t eliminate the uncertainty or risk inherent in the process, but it empowers us to make careful, informed investment decisions.

Some developers view “the neighbors” as the enemy, but we see them as an essential partner in the development process. No one understands the charms and challenges of a neighborhood better than the individuals who have chosen to call it home. Through a community engagement process that is proactive, collaborative and respectful, we believe it’s possible to develop a strong consensus around new development that preserves the unique character of San Francisco’s neighborhoods while at the same time meeting the needs of the future.

"For those who are lost, there will always be cities that feel like home."
— Simon Van Booy

The right partners make all the difference. To get things done, it takes a team of talented individuals with a common vision and shared values. From the lead architect to the apprentice carpenter and the equity partner to the loan officer, everyone’s contributions and efforts are important. We hold ourselves to the highest standards and seek out partners who share our commitment to excellence, hard work and integrity.

Memorable buildings make a statement without trying too hard. They are contemporary yet contextual - contemplating the future, speaking to the present and respecting the past. They embrace innovation but not as a gimmick. Truly great architecture stands the test of time. That’s our commitment.

"We shape our dwellings, and afterwards our dwellings shape us."
— Winston Churchill

Sustainable development is a commitment, not a catchphrase. Rather than an after-thought, it’s an organizing principle that informs every opportunity we pursue and every decision we make. While we each have a role to play as environmental stewards, we feel a keen sense of responsibility as developers to minimize our impact on the local and larger environment. It’s both a moral imperative and an economic opportunity.