SAN FRANCISCO—Locations near workplaces, dining and necessities continue to command attention with renters. But equally important to proximity to active environments is the ability to relax after a workday. In this exclusive, Randy Ackerman, managing director of development with Greystar, recently discussed the amenities that appeal to young professionals and millennials, and what The Duboce offers that has resonated with that group.
GlobeSt.com: What are potential residents looking for when searching for an apartment in the city?
Ackerman: Location is a primary concern for potential residents. While most people want to live where the action is, they also want their own oasis to unwind at the end of a hectic workday. Proximity to retail, dining, transportation and more importantly, their workplaces, are also major factors that can sway the decision for one apartment over the other. Additionally, amenities can be the selling point for a building—making or breaking a decision.
GlobeSt.com: What makes The Duboce a competitive market offering, given your insights into market trends?
Ackerman: The Duboce Triangle is a vibrant and highly desirable neighborhood infused with culture. With the perfect blend of high style and urban luxury, the building embodies boutique living at its finest. Strategically located at the heart of the Upper Market neighborhood of San Francisco, with all the nearby amenities and major employers, The Duboce meets tenants' high expectations and needs.
GlobeSt.com: How many units have been leased to date at The Duboce and how does this compare with other developments?
Ackerman: The Duboce began leasing in March and since then, we have been incredibly successful with leasing efforts. This indicates a strong rental market and high demand for residences in this neighborhood. In a short span of seven months, we are more than 90% leased and of the 10 below-market-rate units, we currently only have four available through the city's process. Other similar residential products may take up to a year to fully lease, we consider our leasing a success story.
GlobeSt.com: What do you think has contributed to the leasing success and how does this fit into any trends in the market?
Ackerman: As walkable communities become more popular than ever among young professionals and millennials, we have witnessed a desire by residents to be near everything they value: great dining venues, entertainment, key transit, and among it all—a home laden with amenities to make it as if they need never leave their front door. From the dry-cleaning delivery service to the rooftop spa, residents at The Duboce can live effortlessly after a long day of working hard. Our leasing success attests to the growing trend of services and catered amenities for residents, allowing them to worry less and have more on-site conveniences.
GlobeSt.com: What kind of residents has The Duboce attracted to date and how has this matched your expectations?
Ackerman: While most of our residents are young professionals and millennials, we have also welcomed both middle-aged residents devoted in their careers and many residents who are studying at a nearby university and their parents have sought a safe, luxury apartment for their sons or daughters.
GlobeSt.com: What about the offering is appealing to renters?
Ackerman: The central location is key. Located in San Francisco's Upper Market, The Duboce is designed to offer its residents with modern comforts and generous entertaining spaces–seamlessly blending the urban indoor-outdoor lifestyle. The building is perched on a steep hill street and residents are instantly taken in by the panoramic city views from the expansive rooftop with amenities. Beyond its rooftop appeal, the community offers modern amenities within its walls too, including appliances, unique corridors and custom doorways.
SAN FRANCISCO—Locations near workplaces, dining and necessities continue to command attention with renters. But equally important to proximity to active environments is the ability to relax after a workday. In this exclusive, Randy Ackerman, managing director of development with Greystar, recently discussed the amenities that appeal to young professionals and millennials, and what The Duboce offers that has resonated with that group.
GlobeSt.com: What are potential residents looking for when searching for an apartment in the city?
Ackerman: Location is a primary concern for potential residents. While most people want to live where the action is, they also want their own oasis to unwind at the end of a hectic workday. Proximity to retail, dining, transportation and more importantly, their workplaces, are also major factors that can sway the decision for one apartment over the other. Additionally, amenities can be the selling point for a building—making or breaking a decision.
GlobeSt.com: What makes The Duboce a competitive market offering, given your insights into market trends?
Ackerman: The Duboce Triangle is a vibrant and highly desirable neighborhood infused with culture. With the perfect blend of high style and urban luxury, the building embodies boutique living at its finest. Strategically located at the heart of the Upper Market neighborhood of San Francisco, with all the nearby amenities and major employers, The Duboce meets tenants' high expectations and needs.
GlobeSt.com: How many units have been leased to date at The Duboce and how does this compare with other developments?
Ackerman: The Duboce began leasing in March and since then, we have been incredibly successful with leasing efforts. This indicates a strong rental market and high demand for residences in this neighborhood. In a short span of seven months, we are more than 90% leased and of the 10 below-market-rate units, we currently only have four available through the city's process. Other similar residential products may take up to a year to fully lease, we consider our leasing a success story.
GlobeSt.com: What do you think has contributed to the leasing success and how does this fit into any trends in the market?
Ackerman: As walkable communities become more popular than ever among young professionals and millennials, we have witnessed a desire by residents to be near everything they value: great dining venues, entertainment, key transit, and among it all—a home laden with amenities to make it as if they need never leave their front door. From the dry-cleaning delivery service to the rooftop spa, residents at The Duboce can live effortlessly after a long day of working hard. Our leasing success attests to the growing trend of services and catered amenities for residents, allowing them to worry less and have more on-site conveniences.
GlobeSt.com: What kind of residents has The Duboce attracted to date and how has this matched your expectations?
Ackerman: While most of our residents are young professionals and millennials, we have also welcomed both middle-aged residents devoted in their careers and many residents who are studying at a nearby university and their parents have sought a safe, luxury apartment for their sons or daughters.
GlobeSt.com: What about the offering is appealing to renters?
Ackerman: The central location is key. Located in San Francisco's Upper Market, The Duboce is designed to offer its residents with modern comforts and generous entertaining spaces–seamlessly blending the urban indoor-outdoor lifestyle. The building is perched on a steep hill street and residents are instantly taken in by the panoramic city views from the expansive rooftop with amenities. Beyond its rooftop appeal, the community offers modern amenities within its walls too, including appliances, unique corridors and custom doorways.
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