$189 million luxury apartment complex rises in booming Mission Bay

Adding to the ever-changing skyline of San Francisco’s new developmental “it” zone is a nearly completed 16-story luxury rental tower in the city’s booming Mission Bay neighborhood.

Azure Apartments, which includes the tower and a completed five-story low-rise structure, offers 273 units and 396,200 square feet of for-lease residential space targeted to young (and well-paid) professionals commuting to the city’s Financial District and South Bay, said representatives from project developerEquity Residential.

Located adjacent to Mission Creek Park at 690 Long Bridge St., Azure will be the only highrise rental southeast of the channel, and one of the tallest buildings in the areas, said Jim Kelly, vice president of development for Equity Residential Northern California.

The apartment complex is being built in accordance with the San Francisco Redevelopment Agency and the Mission Bay Development Group. It is the 12 thlargest residential construction project in San Francisco, costing developers $189 million.

The complex is a “commuter’s paradise” for “techies working in South Bay who still want to experience city life,” said Alexandra LaFlam, community manager for Equity Residential, citing the apartments’ proximity to Caltrain and easy highway access as an advantage for San Francisco residents working in Silicon Valley.

Construction on the tower should finish by Sept. 4. When complete, Azure will offer 164 one-bedroom and 109 two-bedroom units, at varying prices depending on size and view of the rooms.

Apartments in the five-story building and on lower levels of the tower are already available and occupied. There were 60 move-ins in the month of July, after the apartments officially opened June 30, LaFlam said.

Currently, Azure is 30 percent leased and 20 percent occupied, with a waiting list for rooms on the higher levels of the tower.

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