Capital Properties Unveils Plans for San Francisco’s Rincon Residential Towers
Meet Altavie – The Ultimate in Flexible Living
SAN FRANCISCO, Nov. 27 /PRNewswire/ — New York based Capital Properties has announced development plans for its recent purchase of the Rincon Residential Towers, citing renovations, new upscale amenities, and plans for converting a portion of the project into a new flexible living luxury rental concept.
The property will add 120 “Altavie Suites” offering a new concept in furnished turn key living for both short and longer term rentals. The 320-unit property is located in the city’s downtown financial district at 88 Howard Street is adjacent to the Ferry Building and the Embarcadero. It is part of the Rincon Center which is home to restaurants, shopping, and offices.
“In addition to continuing to support our current rental tenants with many common area upgrades and renovations, we're adding a new short and long term luxury rental component to the project,” said Ingrid Summerfield, Executive Vice President of Capital Properties West Coast Development. “Altavie will offer something truly unique — a condominium-type living space with hotel-like amenities,” she said.
Award-winning integrated design company McCartan is spearheading the project designs taking a modernist approach with warm woods, clean-lined furnishings, and materials made from sustainable and renewable resources. Plans for the interiors of the luxury rental units include Euro-kitchens with top-of-the-line appliances, generous bathrooms, and well-designed workspaces.
“We're excited to be part of the modernization of this iconic San Francisco building. We're hoping to officially introduce Altavie to San Francisco in the Spring of 2008,” said Summerfield.
About Capital Properties
Founded in 1977 by President Richard Cohen, New York based Capital Properties is a privately-owned real estate investment, development and management company. The firm's portfolio of ongoing and completed projects includes premier residential and commercial properties in key markets such as Boston, New York and Washington, DC. The company has developed over eight million square feet of commercial space, and 18,000 apartments. Current holdings include four million square feet of commercial space and 6,000 residential units. http://www.capitalproperties.com.
SOURCE Capital Properties
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