SAN FRANCISCO: Residential, Meet Grosvenor
It's been in San Francisco since 1973, but mega-developer Grosvenor's first (and not last) residential effort is now opening. (It's known locally for prime Union Square retail properties.) Grosvenor VP of development in SF Steve O'Connell gave us the tour of 1645 Pacific, a six-story oasis (think pre-war, ritzy, black and white) at the intersection of Nob Hill, PacHeights, and Russian Hill. It's a rags-to-riches story, from an old car garage to 39 luxury residences and penthouses from 613 SF to 1,877 SF (some of the city's biggest new construction condos). One ground-floor space is leased to an art gallery, and another's up for grabs. While other new condos go the pre-sale route, Grosvenor gambled on a different approach: finishing it first so potential buyers could experience the building instead of browsing floor plans. (The night of our tour, we spotted a young couple signing on the dotted line.) Move-ins start this month.