Potrero 1010 Plans Include Gift of Green Space

SAN FRANCISCO—The city's newest public space, Daggett Plaza, is a result of Equity Residential's commitment to convert the former one-block long Daggett Street into a 1-acre public park. While planning for Potrero 1010, Equity Residential entered into an agreement with the city to build the new open space on the publically owned land for a waiver of a portion of the development's impact fees.

The $4.9 million cost that Equity Residential dedicated to build the open space is significantly higher than the open space impact fee waiver, so the additional construction costs of $2.5 million and the firm's commitment to the maintenance of the new park, are gifts to the city. The new plaza, designed by CMG Landscape Architects, remains 100% owned by the city but will be maintained permanently by Equity Residential.

San Francisco mayor Ed Lee, supervisor Malia Cohen, community members and Equity Residential executives were on hand recently to cut the ceremonial ribbon.

“In order to provide new open spaces to match our growth, significant funding beyond existing city resources is necessary to develop and maintain new amenities that continue to support livability in San Francisco,” said Lee. “When we can work with strong, committed partners like Equity Residential, we can capture these substantial opportunities that benefit our city.”

Daggett Plaza is now open to the public and features a large lawn area for general recreation, architectural features that double as play and sitting areas, ADA-compliant accessibility, a public art installation, drought-resistant trees and landscaping, and a fenced-in dog park.

“Daggett Plaza is the result of many years of advocacy and collaboration by residents and the community,” said Cohen. “This completion of this open space is long overdue and is a critical part of the city's commitment of providing community infrastructure needs to support local growth in the southeastern neighborhoods.”

The city also dedicated $2.4 million in open space impact fees for Daggett Plaza and acquired the land with a $1.6 million grant from the state.

“At Equity Residential, we have a long-standing commitment to providing ample open and public spaces at our apartment communities. We enthusiastically embraced the conversion of Daggett Street into a public plaza and committed to bringing this much-needed open space to our residents and the surrounding neighborhood,” said Jim Kelly, first vice president development of Equity Residential.

Designed by David Baker Architects and constructed by James E. Roberts-Obayashi Corp., Potrero 1010 features 453 apartment homes, 20% of which are permanently affordable, 6,000 square feet of PDR space, and 20,000 square feet of neighborhood-serving retail within two architecturally distinctive structures that are separated by Daggett Park.

Potrero 1010 has 95.6% of its apartments currently leased, and its entire 6,000-square-foot PDR space is leased to California College of the Arts, plus The Boba Guys' bubble milk tea outlet is in full swing. More retail announcements are expected shortly.

“From a macro perspective, the combined success of Potrero 1010 and the opening of Daggett Plaza is a significant milestone,” Kelly tells GlobeSt.com. “It signifies that residents want more than just an apartment with great amenities, but also room to stretch out…outside. As cities grow denser, with residential being added to the mix of commercial and industrial projects, residents want open space that provides room for relaxation, recreation and community building. Our apartment communities have always been driven by consumer feedback for the latest amenities and finest finishes, and the demand for outdoor space is nearing the top of that list. Looking back, what has set Equity Residential communities apart has been these growing amounts of open space at or adjacent to our communities. As an example, Azure in Mission Bay has public parks on three of its four sides. One Henry Adams created a 65-foot-wide public paseo to better connect the community. And now with Daggett Plaza, Potrero 1010 has raised the bar yet again in the city.”

SAN FRANCISCO—The city's newest public space, Daggett Plaza, is a result of Equity Residential's commitment to convert the former one-block long Daggett Street into a 1-acre public park. While planning for Potrero 1010, Equity Residential entered into an agreement with the city to build the new open space on the publically owned land for a waiver of a portion of the development's impact fees.

The $4.9 million cost that Equity Residential dedicated to build the open space is significantly higher than the open space impact fee waiver, so the additional construction costs of $2.5 million and the firm's commitment to the maintenance of the new park, are gifts to the city. The new plaza, designed by CMG Landscape Architects, remains 100% owned by the city but will be maintained permanently by Equity Residential.

San Francisco mayor Ed Lee, supervisor Malia Cohen, community members and Equity Residential executives were on hand recently to cut the ceremonial ribbon.

“In order to provide new open spaces to match our growth, significant funding beyond existing city resources is necessary to develop and maintain new amenities that continue to support livability in San Francisco,” said Lee. “When we can work with strong, committed partners like Equity Residential, we can capture these substantial opportunities that benefit our city.”

Daggett Plaza is now open to the public and features a large lawn area for general recreation, architectural features that double as play and sitting areas, ADA-compliant accessibility, a public art installation, drought-resistant trees and landscaping, and a fenced-in dog park.

“Daggett Plaza is the result of many years of advocacy and collaboration by residents and the community,” said Cohen. “This completion of this open space is long overdue and is a critical part of the city's commitment of providing community infrastructure needs to support local growth in the southeastern neighborhoods.”

The city also dedicated $2.4 million in open space impact fees for Daggett Plaza and acquired the land with a $1.6 million grant from the state.

“At Equity Residential, we have a long-standing commitment to providing ample open and public spaces at our apartment communities. We enthusiastically embraced the conversion of Daggett Street into a public plaza and committed to bringing this much-needed open space to our residents and the surrounding neighborhood,” said Jim Kelly, first vice president development of Equity Residential.

Designed by David Baker Architects and constructed by James E. Roberts-Obayashi Corp., Potrero 1010 features 453 apartment homes, 20% of which are permanently affordable, 6,000 square feet of PDR space, and 20,000 square feet of neighborhood-serving retail within two architecturally distinctive structures that are separated by Daggett Park.

Potrero 1010 has 95.6% of its apartments currently leased, and its entire 6,000-square-foot PDR space is leased to California College of the Arts, plus The Boba Guys' bubble milk tea outlet is in full swing. More retail announcements are expected shortly.

“From a macro perspective, the combined success of Potrero 1010 and the opening of Daggett Plaza is a significant milestone,” Kelly tells GlobeSt.com. “It signifies that residents want more than just an apartment with great amenities, but also room to stretch out…outside. As cities grow denser, with residential being added to the mix of commercial and industrial projects, residents want open space that provides room for relaxation, recreation and community building. Our apartment communities have always been driven by consumer feedback for the latest amenities and finest finishes, and the demand for outdoor space is nearing the top of that list. Looking back, what has set Equity Residential communities apart has been these growing amounts of open space at or adjacent to our communities. As an example, Azure in Mission Bay has public parks on three of its four sides. One Henry Adams created a 65-foot-wide public paseo to better connect the community. And now with Daggett Plaza, Potrero 1010 has raised the bar yet again in the city.”