It’s not enough that San Francisco has fairly abundant luxury housing and not a lot of affordable or middle-income housing, but now we’re going to have luxury senior housing for those well-off Boomers who want to live in the city and still go to the Symphony and such.
Yes, a pair of developers are putting the finishing touches on Coterie Cathedral Hill, a new luxe senior complex in what were formerly the offices of KRON4 at 1001 Van Ness Avenue (at O’Farrell). The 208-unit building boasts a bunch of nice amenities, including pools, a spa, roof gardens, a movie theater, salons, shuttle vans to transport residents to the theater or a museum, an onsite cafe and cocktail lounge, and most importantly, three meals a day by “a team of Michelin-rated chefs.” Those meals can be enjoyed in a formal dining room, or they can be ordered as room service — and the two-bedroom units also have full kitchens for those times when one wants to cook.
And the place is being designed by local designers Handel Architects, who also designed the 181 Fremont tower and its luxe condos.
The Chronicle reports today on this luxury senior project, which is set to open in March 2022, and highlights its eye-popping rents: the apartments start at $16,000/month, and go up to $27,000/month, which includes the three meals per day. The developers are Related and Atria Senior Living, and Altria CEO John Moore tells the paper that the project is modeled on Altria's similar senior complex on Manhattan's Upper West Side, where rents are around $20,000 per month, and there's a waitlist to get in.
"There are sophisticated urban seniors who would prefer to stay in their home towns,” Moore says, as opposed to decamping to Florida or Arizona, which don't exactly have world-class culture. "And there are not a lot of options if their hometowns happen to be the big 24-hour cities like San Francisco, Manhattan or Los Angeles."
So, here's the market for those Boomers with money to burn, who want to keep going to the theater and the ballet and not have to commute in to do so.
Coterie Cathedral Hill is, notably, easy walking distance to the opera, ballet, and Davies Symphony Hall. And there's the aforementioned shuttle van for getting anywhere else, in addition to a chauffeured town car option.
Moore says that for Boomers in their 70s or 80s who want to stay active, they can, but "at some point daily living might be easier or better if you don’t have to cook for yourself, or it might be easier or better if you can get some help with bathing or dressing or transportation."
The complex will also offer on-site private medical care, and the place is right next door to the new CPMC hospital on Van Ness, which could be comfort.
The Chronicle talks to one of the first people to sign a lease on the top floor, Janet Cluff. At 80, Cluff has been living for years in a big house on Twin Peaks and she's been looking to downsize — but the other nice options for seniors in the city aren't too easy to get into. At San Francisco Towers, on Pine Street, for instance, Cluff notes, "you have to wait for someone to die to get in."
And she has no qualms about the rents at Coterie, saying, "It’s twice as expensive as the Towers but you are getting a lot for your money."
If this place does well and commands its own waitlist, you can expect more stuff like this to get built in the coming years. The Altria/Related partnership already has a second New York City project in the works, expected to open at Hudson Yards late next year.
Rendering via Handel Architects