Posted Oct 28, 2021, 6:19 PM
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Join Date: Dec 2016
Location: San Francisco
Posts: 24,177
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Quote:
S.F.'s next luxury housing project is charging $27,000 a month. It's aimed at senior citizens
J.K. Dineen
Oct. 28, 2021
Updated: Oct. 28, 2021 8:43 a.m.
For the past decade luxury rental housing built in San Francisco has targeted the young: engineers and start-up entrepreneurs who made the city a global center for tech-driven wealth.
But that may be changing. The city’s next luxury housing project — with two-bedroom units starting at $16,600 and topping out at $27,000 a month — is aimed not at 30-somethings with IPO riches but rather wealthy seniors old enough to be their grandparents.
Two national developers, Related and Atria Senior Living, have joined together to form Coterie, a senior housing development company whose first two offerings will be in San Francisco and New York. In San Francisco the company is building Coterie Cathedral Hill, a 208-unit apartment complex at 1001 Van Ness Ave., which will open in March of 2022. A second development, in Manhattan’s Hudson Yards, is slated to open late next year.
Residents at the 13-story Van Ness Avenue building, on the site of the former KRON-4 studio, will get three meals a day prepared by a team of Michelin-rated chefs. There will be a formal dining room, a more casual spot, a cafe and a bar with a full liquor license. Or if residents prefer to eat in their unit, room service is available.
There will be a Mercedes Sprinter van to take groups of guests to exhibits at SFMOMA or a play at the American Conservatory Theater, or chauffeured town cars available to whisk residents downtown or to Palace of Fine Arts. The building will include on-site private healthcare facilities with “treatment and diagnostic capabilities,” fitness centers curated by Mayo Clinic, a movie theater, tailored nutrition and diet plans, yoga studios, heated pools, rooftop gardens, salons and classes.
Atria CEO John Moore said that the model for Coterie was inspired by the success of a senior housing development they own on West 86th Street in Manhattan, which has a long waiting list and commands rents over $20,000. Senior housing tends to be in suburban settings in warm weather cities, and while that appeals to many retirees, it is not for everyone, he said . . . .
The model will also appeal to older boomers who raised their kids in the suburbs, moved into urban centers as “empty-nesters” 15 or 20 years ago, and are now entering their mid- or late-70s.
“Everything you do at 50 you can do at 60 and even at 70,” said Moore. “But at some point daily living might be easier or better if you don’t have to cook for yourself, or it might be easier or better if you can get some help with bathing or dressing or transportation.”
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https://www.sfchronicle.com/sf/artic...e-16569406.php
I thought someday I might be living here . . . but I guess not.
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