I read in the Chronicle June 2010 that the tunnel at Devil’s Slide is on schedule to be complete and open in the fall of 2010. Caltrans is quietly fighting a lot more water then they expected, which may still hold them up. It is not clear to me if the tunnel has been dug completely through at the time of this writing.
People always ask me if the tunnel will bring home pricing up in Montara and the Mid-coast. I believe it will, partly due to timing, and partly due to the increasing cost of the Golden Gate and that commute.
When the Bridge tolls went up to five dollars we saw an increased number of sales and interest in Pacifica, which arguably is the most affordable area on the Peninsula. Since the toll went up, inventory in Pacifica has dropped to about half of it’s historic amount.
Many have always been reluctant to look further south, not wishing to commute on Devil’s Slide. This is partly because the traffic on the Slide is so heavy during the weekends, particularly, the good weather weekends. Also many don’t like driving on the windy road next to the water’s edge. Truth is most days’ commuters travel at the limit off the Coastside, with their cruise control on, as they are so used to the road.
I don’t see the tunnel helping ease the minds of those who don’t like to drive twisty roads, but since San Mateo County is generally in recovery, and Montara tends to lag but follow the County’s trend, I think the opening of the tunnel may serendipitously help Mid-coast look like a real value. The toll again has risen again on the Golden Gate, six dollars. This may make the Mid-coast the new bright value of the Peninsula.
