100 Van Ness
San Francisco, CA
Originally constructed in 1974, 100 Van Ness was a 28-story, Class B office building situated two blocks from City Hall. Its location straddles the Civic Center district of cultural and arts destinations and Hayes Valley, a walkable neighborhood filled with restaurants, bars, and boutiques. In 2008, NEBF provided an acquisition and development loan secured by the building, which was the headquarters of the California State Automobile Association and later took title to the collateral in January 2011. In 2012, National Development staff and a local partner began the design of an adaptive re-use of the building into a 418-unit apartment tower.
Growth in the nearby commercial office area and interest in convenient urban living created significant demand for more residential development near the city center with highest-in-the-nation rental rates reflecting tightness in supply. Companies such as Twitter and Square developed new creative office complexes nearby, employing a young professional demographic wanting to live close to their work. 100 Van Ness is well-positioned to meet this demand for luxury apartments, offering top-of-the-line amenities and unparalleled views of the San Francisco Bay area. At completion, the Van Ness Complex (100 Van Ness and 150 Van Ness together) offered the most extensive amenity package in the city.