‘Poor’ economy is discouraging development in San Francisco Bay Area, apartment firm says

A developer is requesting a delay on its mixed-use project at Encinal Terminals in the San Francisco Bay Area due to unfavorable economic conditions. Tim Lewis Communities aims to postpone the redevelopment of the former industrial site, which includes plans for 589 homes and commercial space, until the market improves. High construction costs, falling rents, and a challenging permitting process have made the project financially unviable. The Alameda City Council will consider the request for a three-year extension on January 7.