(To read more on the multifamily market, click here.)

(To read more on the multifamily market, click here.)

SAN FRANCISCO-AGI Capital and TMG Partners of San Francisco have kicked off sales of their 246-unit Soma Grand condominium tower in the South of Market district, known locally as SoMa, in a newly opened sales office. The 22-story tower at 1160 Mission St. will include two restaurants at street level and a 504-car underground parking garage.

The units will be a mix ranging from one- to three-bedrooms and from 618 sf to 1,523 sf., including penthouses on the top two floors. The condos are expected to be ready for occupancy in November and are expected to sell for prices ranging from the high $400,000 range to $1 million.

The project site is between Seventh and Eighth streets, at the gateway to SoMa, next to the new GSA Federal Building. The site is just west of San Francisco’s Downtown financial district and Union Square shopping area.

The Soma Grand is being designed by Architecture International of Mill Valley, with Webcor of San Francisco as the general contractor and interior design by Mark McCullough of OCD Interiors in San Francisco. It is described by the developers as “lifestyle condos with the style, service and soul of a boutique hotel,” with San Francisco-based Joie de Vivre Hospitality developing the boutique hotel services and amenities.

Amenities at the Soma Grand will include daily personal concierge service, twice-monthly housekeeping, a sun deck, a fitness center, a club room, a roof garden and access to the shopping, restaurants and cafes that ring the area. The new tower will be close to transit stops, including BART and MUNI.

The Soma Grand is the second AGI multifamily project to debut of late. The company has also unveiled plans for a 146-unit condominium development in West Oakland at West Grand and Bush streets. That development, as reported on GlobeSt.com this week, is expected to break ground in the fall and be completed in mid-2009.

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