The 40-story tower, which will include 348 units, will bring high design and housing to Rincon Hill area.

SAN FRANCISCO—It’s official. Today is the groundbreaking ceremony for Equity Residential’s 340 Fremont, the new modern landmark 40-story tower here in the Rincon Hill district of San Francisco.

The building—designed by Handel Architects and built by local contractor, Suffolk Construction—will include 348 units and includes generous amenities in a nine-story podium, including a fitness center, yoga room, owner’s lounge, business center, game room, and pet grooming area. Three below-grade levels provide parking.

Equity currently has 687 for-lease residences under construction in San Francisco within two developments, with 1,074 additional residences within three developments in the firm’s San Francisco development pipeline. will update this story following the ceremony.