Thursday, March 19, 2009

and now for some real estate:The Next Real Estate Boom: Prison Cells?

San Quentin State Prison
The exercise yard for the east unit of death row comes almost to the edge of San Francisco Bay at San Quentin State Prison in San Quentin, Calif. Some people think it would be a great place for private homes.
(Eric Risberg/AP Photo)
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But if one California lawmaker has his way, the site of the state's oldest prison could one day be home to waterfront mansions and luxury

But if one California lawmaker has his way, the site of the state's oldest prison could one day be home to waterfront mansions and luxury condos with spectacular views of the San Francisco skyline.

In what might be called the worst real estate blunder in California's history, in 1851 San Quentin State Prison was built on a then-remote peninsula at the northern end of San Francisco Bay. Today, that 432-acre spit of land is surrounded by some of the area's best real estate with breathtaking views.

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