The proposal at 626 Octavia St began taking shape in 2019, when SocketSite reported a preliminary concept for 30 homes, 15 parking spaces and 7 stories. By 2020, the design had grown to 38 condominiums, including 8 below-market-rate homes, with 25 parking spaces.
The project later expanded to 40 homes across 8 stories. The current mix includes 12 one-bedroom, 26 two-bedroom and 2 three-bedroom homes, with 10 affordable units. March Capital Management, represented by Eduardo Sagues, is pursuing the development through the AB 2011 ministerial pathway.
The Planning Commission approved the project 4-3 on April 28, 2022, according to Streetsblog San Francisco. The approval included a concession for 30 parking spaces instead of the 20 allowed by right. SocketSite reported that the developer viewed the additional parking as important to financial viability amid high construction costs and market volatility.
The project secured entitlements in April 2022, and the applicant filed building permit 202209273243 in September 2022. Plans reported by San Francisco YIMBY included two retail spaces, parking for 30 cars and 46 bicycles, and four permanently subsidized replacement homes for residents of the existing building.
Progress later stalled. HVSafe reported on April 15, 2025, that March Capital had placed construction plans on hold because of challenging business and market conditions. LoopNet listed the fully entitled, site-permit-ready property for sale on April 17, 2025, but no longer advertises it. As of April 2025, the site still held a four-unit residential building and a parking lot with more than 20 spaces.
The latest dossier update records the building permit as issued in August 2026 after 2 dormancy periods. The permit issuance clears a key administrative step, but the record does not establish whether construction has started.
Bottleneck Watch: Building Code
Building Code is the longest-running active review station on this project.