Vanguard Real Estate on Mission Street says No on G. Photo by Daniel Hirsch.

The weekend is nigh. What with elections (and shootings) and all the subsequent infographics and spiders, we’re exhausted. But before we can mainline a can of Tecate and catch up on American Horror Story, we’d like to review the week that was in real estate and development news.

This week (like most weeks) a lot happened in aforementioned beat, and we didn’t cover it all. So, this is our chance (and yours) to review. Consider this a big ole’ ICYMI (“in case you missed it” for those of you who missed the tutorial on that web-speech acronym).

Here ‘tis:

Chain gangs

Of particular concern for Mission artisans and local merchants, the Board of Supervisors finally made a decision on the long-brewing amendments to formula retail law (aka chain stores, if you’re new here). Previously, a store would need 11 U.S. locations to be considered formula real estate under city law—this means outright bans in some neighborhoods, and special conditional use hearings in others. Now, it’s 11 locations worldwide.

For those keeping track at home, in the counterfactual alternate universe where this is and has always been the law, here’s how the formula retail law would affect our favorite examples:

  • Jack Spade’s numerous international location gets the full bureaucratic heft  of formula retail controls (in addition to classic Mission ire).
  • Fred Perry (with its nearly 100 global spots) goes through conditional use hearings, fo sho.
  • Betabrand still not a chain.

The new law also includes a couple of other changes. Notably, large stores over 20,000 square-feet will have to undego an economic impact report in the approval process. We’re looking at you Target.

Gentrification station

According to Curbed, the G word turned 50 this week. From all we can tell, it’s not slowing down in middle age. Socketsite reports another record breaking home sale in the Mission. $4.9 milion. Duh-damn.

And the gentrification and gringos discourse around Dia de los Muertos just won’t quit over at MissionMission.

A G that won’t make it to its first birthday is the Proposition of the same initial. The tax on real estate speculators, the only substantive measure dealing with housing on the whole ballot, failed. Our offering to the fallen ballot initiative? We put dots on a map.

Even the alleged SilkRoad guy was nervous about his rent going up in this climate. (Truth be told, he probably should have been worried about the FBI):

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    Endangered Species Watch    

Photo Epicenter, home of Hamburger Eyes Photo Epicenter closes with a shrug, reports Uptown Almanac.

But a longtime dive is here to stay… at least for a little while. There is a power in an Uptown union, according to Capp Street Crap.

   Swoon alert!  

But really, quintuple swoon alert here (Sigh. We miss when they were working hard for the money right across the street from ML HQ):

That’s it for now all. Until next time. This has been Developments in Development. Questions, comments, let us have it: tips@missionlocal.com

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  1. “The analysis of rent control is among the best-understood issues in all of economics, and — among economists, anyway — one of the least controversial. In 1992 a poll of the American Economic Association found 93 percent of its members agreeing that ‘a ceiling on rents reduces the quality and quantity of housing.’ …
    “But people literally don’t want to know. A few months ago, when a San Francisco official proposed a study of the city’s housing crisis, there was a firestorm of opposition from tenant-advocacy groups. They argued that even to study the situation was a step on the road to ending rent control — and they may well have been right, because studying the issue might lead to a recognition of the obvious.”
    Progressive Nobel Prize-winning economist Paul Krugman.
    http://www.nytimes.com/2000/06/07/opinion/reckonings-a-rent-affair.html

  2. rents are up 71% THANKS TO rent control. Just imagine how much a studio in the Mission would rent for if there were no rent control to keep the rents “down”

  3. Maybe rents are by by 71% precisely because of rent control, and the way that suppresses the vacancy rate?