The New Normal Places an Increased Emphasis on Home
Fifteen Fifty located at 1550 Mission addresses the new normal and its features adapt to the needs of residents in a variety of ways including pods outfitted with noise control and desks along with reservable conference rooms.
SAN FRANCISCO—Because of COVID-19, people are paying closer attention and a greater value on life at home. To be sure, it has forced many households to re-evaluate where and how to live.
As a result, the new normal is being addressed in many ways within commercial projects, but one in particular is Fifteen Fifty, a residential building located at 1550 Mission St. The 400-foot high building offers 550 residences ranging from studios, one-, two- and three-bedrooms as well as a penthouse collection, according to Related California, the West Coast affiliate of Related Companies.
Available apartments start at $2,950 for studios and junior one bedrooms, $3,900 for one bedrooms, $5,500 for two bedrooms and $8,300 for three bedrooms. The recent opening of Fifteen Fifty arrived in conjunction with the start of move-ins and reveal of three model residences.
“Fifteen Fifty sets a new benchmark for apartment living in San Francisco and its successful opening during such an unprecedented time underscores the increased importance of an inspiring home,” said Joe Walsh, vice president of Related California. “Fifteen Fifty perfectly meets the needs and desires of residents today with beautiful modern interiors and dramatic city views, along with nearly an acre of amenities.”
Moreover, Fifteen Fifty addresses the new normal of living and its features adapt to the needs of residents in a variety of ways, Walsh says.
“The new normal has placed an increased significance on home,” Walsh tells GlobeSt.com. “One of the biggest adjustments of this new normal has been working from home, and we’ve seen residents take serious advantage of our dedicated WFH amenities. Fifteen Fifty offers stylish and functional pods cushioned for comfort and noise control, each with a desk setup, along with reservable conference rooms. These spaces are terrific and used often, but our residents have also loved using the private outdoor parks, and the rooftop pool gets equal WFH attention. I think they appreciate having options. Plus, they get access to wireless printing, complimentary coffee and free Wi-Fi in communal spaces.”
This emphasis on home means residences are now working overtime, serving as offices, gyms, schools, entertaining spaces and more, says Walsh.
“Fifteen Fifty perfectly meets the current needs and desires of residents wanting to experience an inspired life in spite of the pandemic,” Walsh tells GlobeSt.com. “Fifteen Fifty is designed to feel like a private oasis in one of the city’s most central locations. Overall, we want our residents to be proud of where they live and safely have access to everything they need and want, not just during these times, but for the extended future.”
The exterior design by Skidmore, Owings & Merrill combined with 40,000 square feet of interiors and landscaping by Marmol Radziner bring the building to life. The 12,000-square-foot private park on the second floor has a water feature, barbecue areas and outdoor seating. The 5th floor is home to a 5,600-square-foot open-air dog park. On the 11th floor, a rooftop pool deck includes a hot tub, barbecue grills and a pool lounge in addition to a library and a sports lounge with a custom-made pool table. A private penthouse club has a terrace with panoramic views.
Additionally, residents have private access to the Equinox Van Mission Fitness Club, the new location of Bar Agricole, a contemporary art collection curated by Jessica Silverman, 24/7 valet parking with electric vehicle stalls, and Life Simplified by Related and Hello Alfred services for weekly in-home tasks.
Fifteen Fifty’s residences have Bosch stainless steel smart appliances with Home Connect technology, Bosch stacked washers and dryers, customizable Elfa closet shelving systems, Nest thermostats and Salto keyless entry.
Through the first half of 2020, Northern California’s multifamily markets experienced volatility in both market fundamentals and sales activity, according to a recent Colliers International multifamily report. Regional effective rents decreased 1.3% quarter-over-quarter as the Bay Area recorded notable drop-offs in demand particularly in San Francisco. The regional occupancy rate of 95.6% decreased 70 basis points from the first quarter as San Francisco’s occupancy dropped 200 basis points, says Colliers.