Nearly every property zoned to rise at least 120 feet tall under 2009â€™s Market-Octavia Plan has been snatched up, and the cityâ€™s newest spate of towers is in the works. Carpet stores, auto repair shops, car dealerships, Goodwills, donut shops and parking lots in the area have become some of the cityâ€™s most valuable real estate. The Planning Department wants to give some of these properties even more height allowances to generate hundreds more housing units.
Thereâ€™s at least one big hold out: a self-storage facility. The 61,000-square-foot site at 99 South Van Ness â€“ on the edge of western South of Market and the Mission â€“ is owned by a self-storage facility where you can rent a small unit for $130 a month. The land is zoned to rise from four stories to 12 stories, but the owner is Public Storage, a publicly traded real estate investment trust (REIT) that is highly unlikely to sell its land to a residential developer like so many of its neighbors.