Strada Adds Floors to Approved Apartment Highrise in SF

Strada Investment Group raised its sights for an approved 35-story apartment tower in San Francisco’s South of Market.

The locally based developer has filed revised plans to add two floors to create a 37-story, 522-unit highrise at 395 3rd Street, SFYimby reported. It would replace a parking lot.

In August, Strada was approved to build a 524-unit highrise with 96 studios, 299 one-bedroom and 129 two-bedroom apartments near 3rd and Harrison streets, a block from Moscone Center. Of those, 84 units would be set aside as affordable.

But the developer used a state density bonus to redraw plans for more stories, fewer apartments and a larger pool. While Strada has proposed a “significant decrease in inclusionary units,” according to SFYimby, a revised number of affordable apartments was not disclosed.

The revised plans call for a 416-foot tall, 600,200-square-building with 68 studios, 337 one-bedrooms and 117 two-bedroom apartments. The affordable housing would be limited to very low-income households.

The tower will include 3,800 square feet of ground-floor shops and restaurants, plus a five-level underground garage for 142 cars and 243 bicycles.

An 11th-floor deck will have an outdoor courtyard connected to a coworking area, fitness center, leasing offices, meeting room and yoga lounge.

The 37th floor will have a rooftop terrace with sweeping views of the city and bay. It will also have an indoor lounge, game room and wellness spa with a larger pool next to a hot tub, cold plunge and saunas.

The half-acre project, designed by Henning Larson and Multistudio, will be clad in concrete, but claims to be influenced by California redwood trees.

The white tower will include banks of floor-to-ceiling window panels and inset balconies, according to a rendering. A rooftop deck will contain tall viewing panels, interspersed with trees, in addition to a landscaped terrace on the 11th floor.

The $200 million tower had been expected to break ground next year and take 35 months to build. Strada bought the property in 2021 for $34 million.

Strada is now constructing a 500-unit tower at 555 Bryant Street and a Samuel Merritt University campus expansion at 525 12th Street in Downtown Oakland at 525 12th Street.

This month, Strada expressed interest in building homes instead of offices at a demolished tennis club site owned by Alexandria Real Estate Equities at 88 Bluxome Street in South of Market.

Last month, a plan to replace a dilapidated public housing complex in San Francisco with 755 apartments stalled, with Strada walking away from the market-rate component at 1300 Buchanan Street, in the Western Addition.

— Dana Bartholomew