Or maybe this is an efficiency?
“It might be compact, but it’s more spacious than you can imagine. It’s my 259 sq. ft home.”
Here’s the question, from the new NEw MArket Building on Market in our Twitterloin / Mid-Market /South of Market / Tenderloin Adjacent area, you know, The City Part of Town:
And here’s the answer – like this, via The Lofts at SoDoSoPa:
And here’s your catchphrase:
NeMa: 24 months old and still no rent control.**
* NEW YORK TIMES: The prospective changes to the Tenderloin — a noirish haunt of Dashiell Hammett’s Sam Spade and arguably the central city’s last working-class neighborhood — have given rise to a new nickname: the Twitterloin.
* FORTUNE: Welcome to the Twitterloin, where tech-savvy cool meets gritty hood
**After 10 months of living in the NeMa, you just might ask yourself why you’re getting hit with a rent increase what’s 25 times more than most of your coworkers are facing, just saying…
Sam Whiting explains here in the San Francisco Chronicle:
Mmmm, no comments? Perhaps this attempt at a paywall is working too well.
But all right, here’s the SFGate version – surely the rabble will chirp up with comments like, “Well, what’s the rent?” Or maybe, “Smallest Studio in the Twitterloin, 0 bdrms, o bths, reclaimed wood?”
Nope. Just one comment. This is the least amount of NEMA-mocking I’ve ever seen, when the topic of the NEMA is raised:
“So, if Studio One were to break down, would it be NEMA-towed?”
Get it? Nematode – cause like “worms,” right? (Oh, I don’t get it, oh well.)
Hey, speaking of NeMA, there’s still no rent control there, so giant rent hikes are coming your way. It will happen like this:
“We looked at what we’re charging for new rents and what the rent trends are in the market. We came up with the following renewal offer by lease terms…”
And then BAM! You get hit with a 24% (or whatever) rent increase (on top of an already high rent) after just one year. Speaking of which, here’s what one Yelper recently had to say about the NEMA. So many details!
I’ll tell you, lots of SF newcomers move into buildings without knowing that rent control won’t apply to them. And they don’t know the first thing about rental deposit refunds until they hit for charges that they don’t have to pay and that they shouldn’t pay. IMO.
And I’ll tell you, I don’t work for SFGov, so it’s not my job to “activate” the “New Market” “Streetscape” with umpty-up art displays. IMO. SFGov should focus on the basics.
First it was all like this, with a seven pointed star, for Color of Authority:
But now it’s all like this, with SFMTA instead of MTA and the new logo the SFMTA stole a few years back. (Hey I wonder if they ever worked things out with those people in Chicago…)
Is this an improvement? I can’t tell. (Like, is relabeling the accurately-named 5L Limited the inaccurately-named 5R “Rapid” an “improvement?”)
Now when homeowners with garages see red curbs they say, “Goshdarnit, I need a red curb too!” But then they’ll discover all the SFGov red tape they’ll need to cut through, and all the green they’ll have to fork over, so they’ll paint their curbs red, you know, unofficially.
And then SFGov will come along to paint over the curbs in grey and On It Goes…
(And, you know, this is just my guess, as I generally don’t directly speak with the MUNI people because we’re far apart on many issues. And, oddly, these two curbs shown in the photos are right next to each other and they both have new looking paint…)
Or not. It’s hard to say how much rent control would benefit you next year once your lease is up.
But these days, there’s a ton of SF newcomers who are just figuring out the big benefit of RC.
“Unfortunately most residents can’t afford to stay longer that 1 year. We’ve been living at Argenta for 10 months and have been very happy with the apartment. But we began to suspect that things weren’t quite right with management shortly after moving in. People we met in the elevator, lobby and our floor were all saying the same thing — rent had been raised to ridiculous heights and they were moving out. Over the last 10 months we have watched many of the tenants on our floor leave because of the rent increase.”
So that’s what you get with your brand-new building – a huge rent increase after your first year.
Generally speaking, older buildings have rent control and newer buildings do not. One exception is federal land, like Treasure Island and The Presidio. In those places, you can live in an older building but still get with huge rent increases.
Of course, it always pays to check.
Here’s a test – can you tell which places are rent controlled?
You see, it’s hard.
But don’t take my word for it, listen to one of your neighbors at 8 Tenth Street, 94103, via the Yelp:
“Please read this if you are considering any non-rent control building in San Francisco. I wish someone had told me this when I moved to the city and chose Nema. Please consider this advice.
If you have visited Nema, you probably can tell that the management, amenities and staff are outstanding. You may also notice that everyone living in the building has just moved from another city or state. Here’s why:
UNDER NO CIRCUMSTANCES should you rent in a non-rent control building, unless you can sign a multi-year lease. Could you afford a double digit rent increase? 50% rent increase? Is your income doubling next year? It seems far away now, but you will probably want to renew your lease. Now is the time to make a good decision about housing, not next year because you will be paying much more then.”
So basically, buildings built AFTER rent control came to San Francisco in 1979 don’t have no rent control. (The relevant date is printed on your landlord’s Occupancy Permit, but if your crib went up in 1980 or later, don’t even bother checking.)
That means that your friends renting units in older buildings will face a maximum annual rent increase limited to 60% of a certain Cost of Living Index dealing with the Bay Area. That means one-something percent per year.
OTOH, if you moved into the NeMA at $1950 per month last year (as some did, 2nd or 3rd floor, lousy view* – Unit 324, for example**) and your lease is coming up, consider that there are no units available now for less than $2800 (I’m srsly – some studios go for $4000+)
Are you, the NeMA renter, looking at a 40% rent increase soon?
If not this year, what about the next year too? How long will it take to have a 40% increase for your unit, you know, cumulatively?
Sooner than you think Auslander.
Sooner than you think, Outlander.
Why don’t websites aimed at tourists and newcomers tell you this? Well, because they’re on the take from … The NEMA!
I assign this story to the San Francisco Chronicle – this one writes itself. (This would be a good CW Nevius, I’m seriously.)
*Compared with the rest of the units in the Nema.
**This was not a BMR (Below Market Rate) unit reserved for those people making less than $38,000 per year, no no. Those places went for around $950 per month. I’m talking about market rate units back when market rate was $1950 per month for the least desirable apartments at NeMA – that was all the way back in 2013.
This was the promise, a few years back:
“From the beginning, art elements and overall design featured prominently in strategy discussions and were kept at the forefront. Inventive and well-known global design firm IDEO was brought in early on to work with Gannett’s innovation team incorporating relevant research into the human-centered design* that was being developed for The Bold Italic.”
The cost to Gannett? Well, millions were spent on just one website / defunct magazine. How many millions? Well, as with Charles Foster Kane’s Xanadu, No Man Can Say.
But let’s check the water cooler chitchat over at The Gannet Blog:
“The revenue plan was mysterious because there was no revenue. Not for the first 24 months anyway. The Bold Italic had a burn rate that rivals some of the most infamous dot.com fizz outs. They blew through $2 million a year for the first 2 years, before snagging a whopping $41k in revenue based on their skimming from entertainment ticket / event sales.”
And that brings us to July 2014, where these bits came out within hours of each other:
My point is that you didn’t need to go There to get Here.
My other point is that:
1. Aging east coast media baron Gannett Co. Inc. is Charles Foster Kane; and
Oh here it is, 34 Page Street – so sexy! You can see the glow from all that reclaimed wood upstairs:
In closing … Rosebud!
END OF LINE
*What on Earth does that mean? I’m clueless. It’s just blah blah blah while the meter’s running at $500 per hour…
Is this your new, new logo, DPT MUNI?
As seen on the #5 Fulton:
Click to expand
Uh, did you really think this one through?