VAN NESS HAYES | SAN FRANCISCO, CA

KEY STATS

  • Gross SF / Units : 450,577 / 420
  • Property Type : Apartment
  • Status : Construction

DESCRIPTION 
Located near City Hall between the City’s arts district and a burgeoning residential area, the Van Ness Hayes project will follow-on and complement the re-development of 100 Van Ness, an adjacent National Development project, by delivering a 420-unit mid-rise apartment complex. At acquisition, a seven-story office building constructed in 1925 and a connected eight-story office building built in 1959 comprised the site, along with adjoining 13,410-square-foot land parcel. The site had historically been part of the California State Automobile Association corporate campus until acquired by NEBF in 2011.

DEVELOPMENT OPPORTUNITY 
The project takes advantage of the favorable supply and demand residential dynamics in the city center, generated by an influx of expanding tech-related businesses and young professionals seeking nearby residences. Once complete, the Van Ness Complex (Van Ness Hayes and 100 Van Ness) are anticipated to offer the most extensive amenity package in the city.

STRATEGY
The project team has demolished the prior improvements and are constructing the new residential apartment building, including ground floor retail, below-grade parking, and three guest suites totaling approximately 450,000 gross square feet of space. Van Ness Hayes will interconnect with 100 Van Ness offering shared amenities such as roof decks, swimming pool, courtyards, athletic facilities, a basketball court, and screening rooms.

STATUS 
Construction is progressing on time and on budget. The first units began to deliver in March 2018 with the balance delivering later in the summer. Marketing and preleasing efforts have commenced and initial tenant move-ins are expected as early as April 1, 2018.