Neighborhood #10–Town Center

Art & Wine FaireThe original plan for Foster City included nine neighborhoods, a “Town Center” area and an “Industrial” area. Almost all residential neighborhoods contain some mixture of single family homes, two story townhomes and two and three story condominiums and apartments. Each residential neighborhood in Foster City is distinguished by street names found within the neighborhood. Most of the street names are derived from the marine nature of the City.  Each part of town has unique characteristics and styles and often in each neighborhood there are several individual developments that give special flavor to life there.

Neighborhood #10 is a largely commercial area that has offices, Banks, the Metro Center shopping and business center (it’s got, among others, Turtle Bay and Cold Stone Creamery!) and the large, soon to be filled by IBM, Parkside Towers.(formerly the Inktomi Mausoleum. It also is home to the Town Green townhouses and Cityhomes Townhouses as well as the upscale Promontory Point condos, Spinnaker Cove, Meridian Bay condos and the Emerald Bay townhouses.

Comments

  1. My husband and i have two small sons, but they dont play soccer. He has always heard that this was a prerequisite for living in foster city if you didnt want the local dads to run you out of town with a pitchfork. Is this true? Which would be the best neighborhood for us.

  2. Actually, Foster City is a very diverse community where many esoteric activities for kids are openly tolerated and accepted…such as football for example! Why, there are even parts of town where people openly admit to being registered Democrats and they have friends, socialize with others and generally enjoy life without the usual condemnation they could find elsewhere.

  3. Jennifer Minkey-Selvitella says:

    Yes, Foster City is a HUGE soccer town, but it is equally a baseball, basketball, tennis, swimming and every other sport imaginable town. As far as I am aware, there currently is no Pop Warner (football) league in FC. You may have inadvertently offended the primarily Democratic population. In reality, it is the Republicans who may be shunned if the openly admit it!!!! Foster City is a great choice for anyone considering raising a family. I loved it so much growing up, that my husband and I are now raising our 3 kids here. And one of them doesn’t even play soccer……

  4. There is a very strong flag football program at PJCC as well as many organized sports for kids.

    http://www.pjccsports.com/

  5. How well (or unwell) do you think the Cityhomes townhouses are doing these days? We have one of the floor plan that boasts 3 bed and 2.5 baths. There was one that was up for sale which was the same size and floor plan as ours last month, and the sign did not stay up too long, maybe three weeks at the most. I wonder if it sold or got taken off the market?

    Thanks.

  6. The unit you mentioned was withdrawn after 27 days. It looks like that person bought that unit in 2005 for $738,000, which was the same price it was for sale for recently. I would assume that they saw their loss being ultimately larger than they thought and they decided to stay. Since there are so few 3 bedroom comps at City Homes it’s kind of hard to figure how much value has been lost, but I would say they’re in the range between $710,000 and $750,000 depending on how upgraded it may be.

  7. Hmm… so that’s what happened.

    In your expert opinion, being that there is only a few units of this size making it to the market, would it have done well? Not necessarily in price but DOM?

    What’s the average DOM for Cityhomes townhouses? How does it compare, in price and DOM, to the other townhouse communities of Foster City?

    BTW, thank you for creating this blog. Very informative.

  8. A bunch of good questions Rowena…and sort of hard to give you an easy quick answer too. The only market that matters from a Days on Market (DOM) standpoint is the last, say, 6 months. Since the subprime problem has made an appearance. Right now there are 3 active listings at City Homes, they’ve been on for 275,174 and 43 days respectively. Then you have 2 Pending Sales that were on 22 and 19 days respectively. Go figure! The 174 day unit is VERY nice too! Lot’s of factors will play into this too. Location within the project has always been big…the units on the outer rings facing Shell or Metro Center Pkwy have always taken longer to sell. Several units sold there last fall at prices over $700,000 so I would say the project is holding it’s value pretty well. It’s hard to comment specifically on the unit you mentioned near you but it was only on for 27 days, that’s not really that long…but certainly long enough to know if you’re going to get multiple offers or not and they no doubt had a price they were not willing to go under.

    I think a 3 bedroom at City Homes would compare favorably with several other projects in Foster City. The only knocks against City Homes I’ve really ever heard from a marketing standpoint were the outside ring issue and the fact that those units don’t have any kind of yards. That obviously hasn’t stopped plenty of people from buying them all this time either! If you’re interested in this, keep an eye on my friend Denise Nagel’s listing at 612 Aquarius in Shell Cove. It’s been on for 2 days. I think it’s priced right ($718,000)and it shows real well! If that does well that’ll give you a good feel for your 3 bedroom.

  9. Jim,

    Thank you so much. I do appreciate your time answering all my questions. Such thoroughness.

  10. Sort of as expected, Denice got 6 offers on her listing on Aquarius yesterday and, no surprise, it went over asking. If a property is priced right and positioned correctly it’s going to generate alot of interest just like this.

  11. Jennifer says:

    How is it that the Spinnaker Cove condos and Cityhomes townhomes neighborhood school district is zoned to Audubon Elementary as opposed to Foster City Elementary, which is much closer? (Sorry, wasn’t sure if I should have asked the question under Neighborhoods or under the specific school blog) Any insights, Jim?

    One another note, is there a significant amount of traffic on Metro Center Blvd that would warrant that units facing that street would take longer to sell? What do people take that road for, besides Costco? I would think that Hillsdale Blvd or Foster City Blvd are way busier streets.

  12. The schools are actually aligned based upon demographics in particular neighborhoods, not really upon geographic location. Thus, there are undoubtedly lots of kids in the neighborhoods south of Hillsdale and they’ll fill FC school. There are not as many kids north of Hillsdale so they’ll be moved to Audonbon. This is really a School Board question and I’m going to try and get somebody to comment here about this issue. Maybe they’ll make more sense of it than I can.

    No question traffic would effect sales times on the outside rings at Cityhomes.

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