South of Market Landlord Offering Rare Apartment Amenity
Hines is adding an amenity not common in many San Francisco high-rise apartment towers. Its building at 33 Tehama, which was developed with Invesco, includes a butler service known as “Hello Alfred,” the San Francisco Business Times reports. For a fee, a resident can arrange for a butler to organize closets or pantries, run errands, set up catering for parties and order theater tickets.
This service is typically seen in the many luxury condos that are cropping up around the city, including Lumina, The Pacific and The Harrison, but is a rarity in apartments. JS Sullivan's One Franklin condo complex started offering the Hello Alfred service in 2016.
Additional amenities at 33 Tehama include lounges, co-working space, a kitchen, outdoor terraces, a fitness center with a spa, barbecue areas and a game room.
The South of Market building is competing with an influx of new housing with 5,000 new homes added to San Francisco’s housing stock in 2016 and 3,300 new units added last year, according to the San Francisco Business Times.
Apartment vacancies are at less than 5% and 33 Tehama is leasing up quickly. Months after it began leasing units in 2017, a quarter of the 403 units were leased. Construction completed at the end of last year.
Monthly rents are $3,600 to $4,600 for a one-bedroom unit and $5,375 to $6,300 for a two-bedroom unit. The 35-story building also includes 15% affordable housing units for residents earning up to 55% of the area median income.
Total development costs were about $160M.