SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that a 32-story apartment is on the board for Transbay Block 6. Multi-Employer Property Trust together with its real estate advisor, Bentall Kennedy, and international real estate development firm, Chicago-based Golub & Co. revealed the development of the 409-unit high-rise complex in San Francisco's South of Market District.
Plans for the complex, which sources tell GlobeSt.com will cost more than $200 million, includes an apartment tower, townhome residences, a ground-level courtyard and street-front retail. Groundbreaking is expected by year-end 2013, with expected completion in late 2015.
A Golub & Co. team led by principals Michael Newman, president and CEO, and Lee Golub, EVP, was selected as the developer of the site by the City of San Francisco, owners of the site at 299 Fremont St.
Designed to achieve U.S. Green Building Council Leadership in Environmental and Energy Design (LEED) Gold certification, the project will create more than 2,500 green jobs and $490 million in economic activity for San Francisco.
The San Francisco office of Solomon Cordwell Buenz designed the apartment community and will serve as the architect of record, and the general contractor is a joint venture between Balfour Beatty and Cahill Construction.
The units at 299 Fremont will offer efficient floor plans with luxury finishes and appliances as well as full-height windows offering a combination of views of the city and the bay. Planned community amenities include sky balconies on every third floor of the tower, a state-of-the-art fitness center, and a community room with gourmet kitchen, game room and media lounge. Outdoor spaces will include a rooftop deck, hot tub, gas grills, seating, fireplace and terraces wired for Wi-Fi. Other amenities include a 24-hour doorman, package service, bicycle storage and repair, and dog bathing facility.
Check back with GlobeSt.com for more on this deal, including thoughts from Amy Price of Bentall Kennedy, Michael Newman of Golub & Co., and David Antonelli of MEPT Portfolio.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
