SAN FRANCISCO—Richmond Heights, OH-based Associated Estates Realty Corp. revealed that along with the firm's investment and development partners, they have broken ground on the firm's 350 8(th) Apartments in the South of Market neighborhood.
“This project is unique because it enables residents to experience all that San Francisco has to offer in one, superb property,” notes Jason Friedman, SVP of acquisitions and development for Associated Estates. “Beyond advancing the growth and development of the surrounding community and benefitting local residents and business owners, 350 8(th) will offer our prospective residents truly differentiated, upscale housing options in the Western SoMa neighborhood with immediate access to on-site restaurants, shopping, artist spaces and a public park.”
The 3.4-acre site is centrally located, with easy access to employment and entertainment options throughout the city, Silicon Valley and the East Bay by walking, biking or public transportation.
350 8(th) will be a 410-unit apartment community with seven distinct buildings. Residents will enjoy exclusive access to multiple roof decks, a community lounge and kitchen, a dog run, a fitness facility and a conference center.
The buildings will offer three unique residential experiences: flats, lofts, and two-story townhomes. Each apartment will feature premium finishes, such as stone countertops, stainless steel appliances and custom cabinetry. The first units are expected to be available in November 2015.
“We are thrilled to be making this high-quality property in a growing neighborhood with such a rich heritage a reality,” says Jeffrey I. Friedman, president and CEO. “350 8(th) is a significant milestone for Associated Estates that will contribute to long-term value creation for all of our shareholders.”
Partners of the project include AIG Global Real Estate Investment Corp., 4Terra Investments, James E. Roberts-Obayashi Corp. and Kava Massih Architects. PNC Bank, Bank of America and RBS Citizens Bank provided construction financing for the project.
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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.
