SAN FRANCISCO — As economic recovery continues, developers are replacing gas stations with penthouses, according to sfgate.com.
Since 2010 housing developers have begun projects to replace 23 gas stations throughout the city, said the article. By 2017 San Francisco will have 40 percent fewer stations than in the previous decade.
According to Supervisor Scott Wiener, who represents Upper Market Street, the change makes sense. He said the city had too many gas stations taking up a lot of land, but the city does need some of them.
Trumark Managing Director Arden Hearing stated that cars are becoming less useful in San Francisco. “We need gas stations less and car washes less,” he said in the article.
Sam Hariz, president of the Service Station Franchise Association, said in the article that profits are different for gas stations now, since the profit margin on a tank of gas is not as high as it has been in the past.
“Obviously you are going to get a much higher return on investment by selling it to a developer for housing or retail,” Hariz explained in the article.
Some residents are less optimistic about the expansion of housing.
Port worker Manny Macheco stated in the article, “Condos are popping up in the city like pieces of toast. They claim it’s going to be affordable. I think it’s affordable to brain surgeons or lawyers — not your average Joe. If you’re an average Joe, good luck finding a garage to sleep in.”
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