president fong: allan mark. >> hello. i am a resident of washington hills for 20 years and a homeowner there. i have also been a member of the telegraph club for 18 years. i am the president of the company involved in real estate consulting on the residential side. i strongly support the northeast embarcaderos study. it has been very thorough, very well thought out. this town averages about 1000 sales a year of condos. at the peak of the market, there were 3000 condominium sold in 2007. right now we have 800 left that are not in contract. there is virtually no new residential construction going on in the market. i do not see anything happening for the next year or two. i envision another shortage of housing, unfortunately. many developments take a minimum of 18 months to three years to build. i know the embarcadero very well. i think we can activate the site. i do not think it is terribly safe at night. i am a major walker. i think we should support this. it involves a lot of surface lots. i see empty lots that turn into