Is SF Chinatown A Dinosaur?


#302

Thanks for the tip. Will advise Big Bro of the situation…


#303

Well, just on average, each unit is renting $3,825/mo. Seems plausible, if two adults working in FD or South of Market and sharing a unit for 2k/mo each. Shoot, imagine if say 3 or 4 in a unit (sharing bedrooms or somehow using living room as a bedroom) then easily achieved. Again, that one I just saw is charging over $4k/mo so apparently demand is there. Cha-ching!!!

Oh, and this building is like the one I saw, where it could def go up in height fairly easily without really bothering the neighbors. More money…


#304

#305

:+1: A lot of the issue I find about Chinatown is that so many of the residents are stuck in this “starvation mentality” mindset. Chinatown != poor and dirty unless you want it to be permanently poor and dirty. Look at China proper. So much of modern China is now clean and modern ---- why be stuck in the old mindset?


#306

The folks figure if the place is portrayed as poor and dirty that no one would want to disturb them or bother them so home security to a certain degree. If places are nice, more expensive and more competition. Who wants that (from their perspective)? NIMBYs!!!


#307

you know what, i just went to chinatown today to buy some american ginseng to bring back to hk next month.
i notice portsmouth square is stink as fxxk, once i step outta elevator , there’s big pile of pee right outside of the elevator area. Then i also notice a lot of store closes down on grant. what’s going on chinatown ppl, last time i went is around 7-8 months ago and things looks totally different, a lot less ppl now too


#308

For sure, a lot of empty storefronts like other neighborhoods. It is just so hard to make a living selling junk when the neighborhood shuts down essentially after 6pm and of course the rents are high. If the associations or owners’ kids don’t want to continue the businesses, maybe Chinatown should relax the rules on who and what can come in. Now, it could also be related to the long construction of the bus station that is wearing the neighborhood down. Kind of like what we are seeing downtown with the street closures for so many years. How long can businesses just wait? The hope is that bus station will revitalize the area. We can only hope…


#309

Geez, so a 2/2 condo in this prime location to the Financial District, Downtown and the soon to be operational bus station goes for a mere 700K. Isn’t this is a decent deal for a rental? Rentometer says ave rents are about $3800/mo.


#310

About time…


#311

http://usa.chinadaily.com.cn/a/201811/15/WS5bec483ba310eff303288b96.html


#312

Innovate or die. Nothing lasts forever.


#313

Geez, mankind is relying on Boba tea shops now…:grinning:


#314

It says all 4 Ping Yuen buildings were remodeled — the one on 990 Pacific at the cost of $65M. To be fair, from the street level, all these complexes now look really nice. I wasn’t around to see them during their nadir (in the 70s/80s?) – don’t know if @sfdragonboy you care to comment?

You can use your browser’s private browsing feature to get around the paywall.


#315

Hey @aalj, just got back from 10 days of Caribbean sun and sand…

I have of course seen the work in progress when visiting Chinatown for my $5 haircuts. Let’s be honest, projects are still projects. I would prefer them completely gone but I suppose remodeled ones are way better than not. Like anything, let’s see how long they stay nice…


#316

Yeah, the article mentions that the catalyst for the remodel was the late Ed Lee, getting transferring responsibility of the building to the Chinatown Community Debelopment Center and getting federal funds to maintain the buildings.

I dont know anything about this organization. Friend or Foe? I bet they are all yes on prop 10 though …

https://www.chinatowncdc.org


#317

Is your project done yet???


#318

Not yet. :slight_smile: I’m slow rolling it for completion in line with the subway. No point in rushing it to market with recession fears all over the place. If the subway (and my project) are complete in the middle of a recession, then I’ll just rent it out and collect income.


#319

Uh, don’t wait for Muni…


#320

:rofl::rofl::rofl::rofl:

Its ok. My holding costs are not a big deal. I look at the opportunity cost as a way to hedge against a falling stock market.


#321

Are stocks falling??? :grinning: