SAN FRANCISCO—The new kid on the block, 399 Fremont, lends an architectural flair to the burgeoning Rincon Hill neighborhood. The residential high rise opened its temporary leasing center at the corner of Harrison and Fremont streets in advance of first move-ins this spring.

The for-lease building, developed in a joint venture by UDR Inc. and MetLife Inc., has a distinct combination of high-end finishes, panoramic views via a rooftop lounge and plentiful amenities. And, when complete, it will have contributed more than $20 million to the affordable housing fund.

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