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|New construction can still be as hard to find as a banker at last week’s Occupy Oakland rallies. But we found some: a $60M, 202-unit multifamily project now rising in the Mission District. Developer Avant Housing is a JV between AGI Capital and TMG Partners, with funding from CalPERS.|
|We recently chatted with Avant development principal Eric Tao, who tells us the Class-A, market-rate project (1880 Mission St) is thelargest institutional-quality apartment community to be built in the area. (Previous projects have been either affordable or fewer than 150 units.) This is the time to do it, he says—the drivers for the project are the creative, entrepreneurial young people who are flocking to The Mission, not because it’s ritzy, but because it’s one of the City’s most eclectic and vibrant neighborhoods.|
|Giving a shout-out to CalPERS for supporting urban infill housing in rocky economic times, Eric says 1880 Mission is targeted toward the urban dweller—someone who treats San Fran as his or her playground and place of inspiration. The project boasts amenities designed for “doers and tinkerers”—instead of a business center with cubicles, an idea center will offer creative open space to encouragecollaboration. Other amenities include a small music center in place of a clubhouse, 1:1 bike parking (along with workbenches to do bike maintenance or just general whittling), an outdoor surfboard/bike/dog washing facility, and a community garden instead of a swimming pool.|
|The new community’s being built on the site of the former Louis Roesch Printing Co. The site, which Avant bought last November, hasn’t been without challenges—two previous developers failed to get off the ground, and the property seller, Michael Davos, died before the groundbreaking. (Eric is with his widow above.) Apparently, the third time’s the charm. Completion of 1800 Mission is slated forsummer '13, and leasing will begin about three months before that.Devcon's the general contractor.|