For the past decade luxury rental housing built in San Francisco has targeted the young: engineers and start-up entrepreneurs who made the city a global center for tech-driven wealth.
But that may be changing. The city’s next luxury housing project — with two-bedroom units starting at $16,600 and topping out at $27,000 a month — is not aimed not at the 30-something with IPO riches but rather wealthy seniors old enough to be their grandparents.
Two national developers, Related and Atria Senior Living, have joined together to form Coterie, a senior housing development company whose first two offerings will be in San Francisco and New York. In San Francisco the company is building Coterie Cathedral Hill, a 208-unit apartment complex at 1001 Van Ness Ave., which will open in March of 2022. A second development, in Manhattan’s Hudson Yards, is slated to open late next year.