Greystar and Ivanhoé Cambridge broke ground on 2198 Market Street, a new mixed-use development in San Francisco, California. The new development will feature 87 apartment homes and 5,000 square feet of retail space. A groundbreaking ceremony will be held on January 29, 2015 at 12 p.m. at the site which is located at the six-way intersection of Market, Sanchez, and 15th Streets.
“The development will contribute to the ongoing transformation of Upper Market Street and the Castro District of San Francisco,” said Ali Warner, Managing Director of development for Greystar. “2198 Market Street will offer stylish, high-quality apartment homes with an abundance of on-site amenities that will appeal to a variety of residents.”
The new community will have an urban design situated on a triangular site with frontage on Market Street and Sanchez Streets. 2198 Market Street will offer a variety of one- and two-bedroom floor plans ranging in size from 538 to 1,322 square feet. The units will have luxurious interior finishes and accessories.
Residents will enjoy a spacious rooftop terrace and Others amenities such as a bistro lounge, bike storage and underground parking. The mixed-use development will include ground-floor retail space with excellent pedestrian and automobile visibility along Market Street with space for a future restaurant.
“2198 Market Street will provide residents a transit-orientated community that provides convenient access to the Church Street Muni Metro and BART,” said Sylvain Fortier, Executive Vice President, Residential, Hotels and Real Estate Investment Funds for Ivanhoé Cambridge. “It’s also a 10 minute commute to downtown San Francisco and a short walk to local parks, schools and restaurants.”
Construction on 2198 Market Street is expected to be completed in summer 2016.
Greystar Real Estate Partners is a fully integrated multifamily company offering expertise in property management, development and investment throughout the United States and abroad. Headquartered in Charleston, SC., Greystar is the largest operator of apartments in the United States and manages approximately 385,000 units in 100+ markets with over 10,000 team members. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class services in the multifamily real estate business. Greystar’s innovative business model integrates the management, development and investment disciplines of the multifamily industry. To learn more about Greystar, visit www.Greystar.com