Luxury Potrero Hill Residential Development Begins Leasing
Residents of Related California's newest San Francisco offering won't have to go far for Warriors games this fall.
Mason on Mariposa, Related California's 299-home Potrero Hill community, has kicked off leasing at 1601 Mariposa St., with the project's first move-ins scheduled for November.
San Francisco-based David Baker Architects led the design of the amenity-rich development, which consists of three four-story apartment buildings made up of studios through three-bedroom apartments and townhomes just a mile away from the new Chase Center.
BAR Architects and Fletcher Studios also worked on the project's design.
Of the 299 homes, 239 are luxury market-rate residences with rents starting at $3,575 for the studios, $4,200 for one-bedrooms, $5,720 for two-bedrooms and $7,795 for three-bedrooms, according to the developer. The other 60 units, or about 20% of the community, are designated as affordable housing.
Median San Francisco rents in Q1 of this year were about $2,900 for studios, $3,500 for one-bedrooms and $4,500 for two-bedrooms, according to a report from Compass Commercial using data from Zillow.
Related began construction in July 2017 after receiving project approval in late 2015, Related California Senior Vice President Steven Oh said. Move-ins will continue in the months beyond November as the developer continues finishing the residences.
Amenities at 1601 Mariposa St. include a library and lounge, coworking space, a bar, an expansive fitness center and a pet spa. "It's luxury residences with finishes, amenities and services expected in a high-rise building but in a package that's really neighborhood-sensitive," Oh said.
Between the three residential buildings are landscaped, publicly accessible walkways, one of which connects Mariposa and 18th streets, bookending the community from north to south.
Related California has been active in San Francisco recently, completing The Avery, a 56-story Transbay District high-rise with 548 homes between its 280 luxury apartments, 150 affordable apartments and 118 condos.
In addition to finishing what is left of Mason on Mariposa, Related is currently developing 1500 Mission St., a 1.2M SF, 39-story mixed-use tower on San Francisco's Van Ness transit corridor. All told, it is developing over $2B worth of assets in S.F., according to Oh.
"We've been in San Francisco for a long time through our various developments, but we're excited to see how our new project gets received throughout San Francisco and specifically Potrero," Oh said.
CORRECTION, September 18, 2:34 P.M. PT: A previous version of this story misstated when Mason on Mariposa received approval. It was approved in late 2015. The story has been updated.
