Mira The 40-story Mira will comprise a mix of 392 one-, two- and three-bedroom condominiums.

SAN FRANCISCO—Sales of homes priced above $1 million–and especially those above $3 million–continue to fare better than last year. The exception was Marin County with a decline in sales of homes priced between $2 million and $3 million, down by 7% year over year.

Inventory finally improved, up by 2%, after 16 consecutive months of year-over-year declines. Most Bay Area counties had inventory levels improve in July, according to the latest study by Pacific Union International.

One of those upper-tier properties, Mira, the newest community of condominium residences developed by Tishman Speyer, is soon to be poised for residents. The site was previously known as Block One of the Transbay redevelopment plan.

Located one block from the Embarcadero at 280 Spear St. at the corner of Spear and Folsom, Mira is in the Transbay neighborhood where SoMa meets the Embarcadero. Mira will have access to the waterfront, the new Salesforce Park and Transit Center, and retailers, restaurants, transportation options, along with sports and entertainment venues.

The 40-story development will have a mix of 392 one-, two- and three-bedroom condominiums, townhouses and penthouses. Mira's sales gallery will open this fall, with occupancy slated for fall 2019. Sales will be represented by Polaris Pacific.

“With construction of Mira well underway, we're getting closer each day to delivering this new community for the benefit of the flourishing Transbay neighborhood,” says Carl Shannon, senior managing director at Tishman Speyer.

When completed, Mira will have amenities such as a courtyard, rooftop deck, private dining room, club lounge, a fitness center, children's playroom, business and conference center, dog washing station, valet parking for 340 cars with electric vehicle charging stations, parking for 150 bicycles, and more than 10,000 square feet of retail at the street level.

The project is designed by architecture practice Studio Gang and will feature a tower with large bay windows spiraling up the facade to offer views of the Bay, the Bay Bridge and the city skyline.

“It's a privilege to be able to contribute such a beautiful and original piece of architecture to the San Francisco skyline,” Shannon tells GlobeSt.com. “Studio Gang has outdone itself with this project, and we're working hard to see their vision through and bring these much-needed homes to market. We can't wait to see how it fits into the surrounding neighborhood.”

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.