150 VAN NESS | SAN FRANCISCO, CA

KEY STATS

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

DESCRIPTION 
Located near City Hall between the City’s arts district and a burgeoning residential area, the 150 Van Ness project follows  and complements 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 took 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. The Van Ness Complex (100 Van Ness and 150 Van Ness) offer the most extensive amenity package in the city.

STRATEGY
The project team has completed construction of   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. 150 Van Ness connects to 100 Van Ness offering shared amenities such as roof decks, swimming pool, courtyards, athletic facilities, a basketball court, and screening rooms.

STATUS 
Construction completed on time and on budget in the first quarter of 2018. The first units delivered in March 2018 with the balance delivering later that summer. Leasing efforts continue with occupancy at 95%.