Ross Perot's Son In the House
We headed to Pac Heights last night for the groundbreaking of the 76-unit luxury condo project at 2121 Webster. Here's developer Trumark Urban SVP Mark Higgins with Ross Perot Jr. This marks his Texan real estate firm Hillwood's first S.F. investment. Ross jokes that if you can get a project off the ground here, he shouldn't be complaining in Dallas. Ross is a world record holder, having completed the first helicopter flight around the world after graduating from Vanderbilt in 1982. (Wanna check out what made the 26,000-mile trek? The Spirit of Texas is on permanent display at the Smithsonian Institution’s Air and Space Museum in DC.)
Trumark managing director Arden Hearing tells Bisnow the project, branded The Pacific, offers large units inside an intimate building experience--complete with a full set of services--that's unlike anything in Pac Heights (neighbor Danielle Steel is already jealous). The units will range from 1,096 SF one-bedroom flats to 3,625 SF penthouses.
Formerly the University of The Pacific’s Dugoni School of Dentistry, the 222k SF building was meant to have an afterlife as condos, with 12- to 14-foot ceilings and 360-degree views of S.F. icons like the Golden Gate Bridge and Mount Tamalpais. The building’s former parking lot features townhomes that resemble single-family homes. Just as Michelangelo looked at a blank piece of stone and chiseled out an angel, Arden told the crowd he sees amazing bones at 2121 and potential to unleash that angel.
Above, some golden hammers got to work. Mark tells us the project will succeed because Trumark has an understanding of micro markets like Pac Heights and the type of buyer there. Elsewhere, Trumark's Amero condo project in Cow Hollow is 60% sold, with some penthouses remaining.
Handel Architects, which designed Millennium Tower locally, did some traveling to Bulgari in London and Milan and the Setai in Miami and New York to replicate a five-star hotel experience. Expect shared gardens and a business lounge/hospitality suite for overnight guests. Handel partner Glenn Rescalvo likens the project to a well-tailored suit or luxurious handbag. (We wonder if this red carpet will have an afterlife at Dolby Theatre for The Oscars.) The sales center will open next summer and residents can move in early 2016. Polaris Pacific is marketing the property.