Rents For This Planned San Francisco Senior Apartment Project Reach $27K Per Month
A pair of national apartment developers have a luxury project in the works for San Francisco that will count a bevy of extravagant amenities, and a price tag to match.
The swanky 13-story, 208-unit project was not designed with young tech entrepreneurs in mind, but rather for seniors.
The project will feature Michelin-rated chefs, chauffeured town cars and private healthcare facilities, with asking rents starting at $16K a month and capping at $27K, the San Francisco Chronicle reports.
Related and Atria Senior Living are teaming up for the project under construction at 1001 Van Ness Ave., at the former offices of KRON4, with an opening date pegged for March 2022. Related and Atria formed a new senior housing development company, Coterie, for the building; a second location is slated to open late next year in Manhattan’s Hudson Yards.
According to the Chronicle, a Mercedes Sprinter van will be available at Coterie Cathedral Hill to take groups to the opera or symphony, for example, both located just a few blocks up the street. Other on-site features include Mayo Clinic-approved fitness centers, a movie theater, nutritionists, several pools and rooftop gardens.
San Francisco-based Handel Architects is handling design.
Coterie is targeted for “sophisticated urban seniors who would prefer to stay in their home towns,” Atria CEO John Moore told the Chronicle, and those looking to relocate from the suburbs for a more social climate.
There are 21,355 apartment units under construction in the Bay Area, down nearly 12% from last year, according to a Q3 market report by Kidder Mathews.
The largest project to open in the city last quarter was 1177 Market at Trinity Place, a 501-unit project that opened in July in the SoMa district.