San Francisco ─ October 16, 2017 ─ National Real Estate Advisors announced today the topping out of 150 Van Ness, a 418-unit luxury apartment complex that the company’s subsidiary, National Real Estate Development, is developing in the downtown Civic Center neighborhood with local developer, Emerald Fund. The ceremony marked the completion of the 13-story building’s cast-in-concrete superstructure. The project is scheduled for completion in May 2018 with interior finish work already underway on the first four levels and glass installed on all floors. Terra cotta panels will complete the structure’s distinctive skin. The first apartments are projected to be available for leasing this winter; 50 of the project’s units will be affordable housing.
The 450,000-square-foot building will include 9,000 square feet of ground floor retail and one level of below grade parking. Among the building’s tenant amenities will be a rooftop terrace, lap pool, yoga studio, golf simulator, theater room, expansive three-story fitness center, and a basketball court. The building will be GreenPoint rated under the Build It Green Multifamily Building ratings for efficient energy use for lighting, water usage and mechanical systems.
Jeff Kanne, National’s President and CEO, said: “150 Van Ness fits National’s build-to-core model for developing cutting edge new projects which will be highly attractive to discerning renters seeking high quality space in one of the most high-demand markets in the U.S.”
National is developing 150 Van Ness on behalf of the National Electric Benefit Fund in a joint venture with Emerald Fund, a local San Francisco development company. National and Emerald have already completed the conversion of 100 Van Ness, the adjacent former California State Automobile Association office building, into a 420-unit luxury apartment tower with 28 floors.
About National Real Estate Advisors
National Real Estate Advisors is a leading investment manager, specializing in build-to-core—developing and owning large-scale, urban commercial and multifamily projects for its institutional client accounts. National constructs investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data center and hotel—with design features, technological enhancements, and amenities that can drive high tenant demand and create value for investors. The firm is a subsidiary of the National Electrical Benefit Fund. For more information visit www.natadvisors.com.