SAN FRANCISCO—MIRA recently received its temporary certificate of occupancy and is welcoming new residents who may find the condominium development a breath of fresh air, literally. The 392-residence community located at 260 Spear St. was developed by Tishman Speyer.
"It's a pleasure to watch this community come to life as new residents move in," Carl Shannon, senior managing director at Tishman Speyer, tells GlobeSt.com. "In this difficult time when people are spending more time than ever at home, we're proud that MIRA offers its residents ample opportunities to get some much-needed fresh air without having to leave the community. Between the private balconies featured in the majority of MIRA's residences and the 54,000 square feet of open space incorporated into MIRA's design, we're happy to see that residents are taking advantage of these outdoor spaces."
Models are available for interested buyers to tour privately by appointment or virtual tours of all models are also available. Stringent safety protocols are in place to protect all visitors to the sales gallery and model homes and ensure that appointments are private. Located on the 23rd floor of the 40-story 400-foot tower, the two-bedroom/two-bathroom models have been staged and fully furnished by Jeff Schlarb Design Studio.
The development has one-, two- and three-bedroom condominiums and townhouses. The community's amenities include a courtyard, attended lobby, rooftop deck, private dining and lounge, a fitness center, children's playroom, conference room, 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.
MIRA has access to the waterfront, the Salesforce Park and Transbay Transit Terminal, and an array of retailers, nightlife, restaurants, transportation options, and sports and entertainment venues from its location in the Transbay neighborhood.
MIRA features a tower with large bay windows spiraling up the facade with views of the bay, the Bay Bridge and the skyline. Its architecture and interiors are designed by Studio Gang led by Jeanne Gang, the only architect named to the 2019 TIME 100 list of most influential people.
"Studio Gang designed the homes at MIRA to be a seamless extension of the architecture," says Shannon.
Sales at MIRA are represented by Polaris Pacific.
Despite the ongoing health and economic crisis precipitated by COVID-19, the San Francisco real estate market made a large recovery from the steep declines in March and April, according to a July report by Compass. The San Francisco median house price hit a new monthly high in June ($1.8 million) and high-end houses in particular have seen very strong demand–this applies to virtually every market in the Bay Area. More affluent buyers, the demographic least affected by COVID-19, unemployment, and also having the greatest financial resources, have been jumping back into the market to a greater degree than other segments.
The condo market has been weaker than the house market, as measured by both supply and demand metrics and median sales price. It may be that prospective condo buyers, often younger and less affluent than house owners, have been more affected by the huge jump in unemployment, according to the Compass report.
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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.
