San Francisco –The Integral Group (“Integral”) is pleased to announce a groundbreaking ceremony on May 20 at 11:00 A.M. for EVIVA Mission Bay, an apartment community of 129 units with 103 market-rate units and 26 below-market-rate units affordable to moderate-income residents earning 90% of the Area Median Income (AMI). EVIVA Mission Bay is the last parcel to be developed in the Mission Bay North Redevelopment Area. The unit mix consists of 72 one-bedroom units, 53 two-bedroom units and 4 three-bedroom units, along with 82 garage parking spaces. Argosy Real Estate is Integral’s joint-venture equity partner and construction financing is provided by East West Bank.
Mr. Egbert Perry, Chairman of Integral, stated, “EVIVA Mission Bay represents the very best of Integral: a mixed-income, new apartment community that provides quality housing for the work force and the broader market in one of the most housing-constrained communities in the United States. Integral has a twenty-year track record of providing both affordable and market-rate housing in urban communities throughout the United States. In addition to the transformational EVIVA Mission Bay project, Integral is co-developer of a recently completed affordable housing development in Sacramento known as Cannery Place, and a luxury market rate development, named EVIVA Midtown, under construction in the midtown neighborhood of Sacramento.”
“EVIVA Mission Bay represents a great collaboration with the City of San Francisco Office of Community Investment and Infrastructure, our public-sector partner in this project,” said Mr. Christopher Martorella, President of Integral’s Commercial Real Estate Division. “It is the first large-scale project to provide moderate-income, inclusionary housing units in a market-rate project in the City of San Francisco. Because of EVIVA Mission Bay, teachers, firefighters, health care workers, recent college graduates, young families and other members of San Francisco’s critical workforce will have a place to call home.”
The property is located in Mission Bay and is well positioned in the market with convenient access to the new Mission Bay Hospital system, downtown San Francisco, walkable retail and proximity to the many amenities of Mission Bay. Additionally, this property is just a few blocks from the Giants AT&T Park, a short muni ride to the Financial District, steps from the CalTrain terminus station, and has direct access to Highway 101 and Interstate 280. EVIVA Mission Bay is created with the best of urban living in mind.
EVIVA Mission Bay incorporates amenities including a Wi-Fi café/bar, BBQ areas, a fitness center, ample bike parking and a yoga room. All units will have 9-foot ceilings, private patios or balconies, a roof garden, landscaped courtyard and environmentally friendly fixtures. Packaged concierge services, including security, also come standard for the EVIVA Mission Bay Apartment community.
Construction started in March 2015, with completion expected in October 2016.
Integral is an Atlanta–based vertically integrated real estate development and investment firm, with a particular focus on providing innovative development strategies in key urban markets across the U.S. (http://www.integral-online.com) Recently, Integral launched its national multi-family brand “EVIVA”, a unique project portfolio deeply rooted in high design, sustainability and community vibrancy. Branded projects are underway in Atlanta, Denver, San Francisco, and Sacramento.
About Argosy Real Estate
Argosy Real Estate, founded in 1990, specializes in opportunistic real estate investments. Through joint venture structures, Argosy Real Estate (www.argosyrealestate.com) partners with entrepreneurial operating partners possessing significant local market knowledge and a demonstrated track record of success. Argosy Real Estate currently has $325 million in equity value of assets under management, serving institutional investors, family offices and high net worth individuals.