Rendering of 321 Florida StreetAscentris/DM Development
The nine-story project, planned at 321 Florida Street, will include 152 residential units - including 15 affordable homes - above parking for 39 vehicles. Plans also call for roughly 10,000 square feet of amenity space, including a resident lounge, a fitness center, and a terrace deck.
“We are very excited to partner with DM Development on 321 Florida, a project that combines an exceptional infill neighborhood location with a thoughtfully designed residential experience," said Ascentris senior vice president Dylan Drescher in a news release. "DM's local development expertise and strong track record make them an ideal partner as we bring a high-quality new community to a supply-constrained market."
The project will be financed with a $61.7-million construction loan from PNC Bank. It is set to break ground in November and open by late 2028.
Rendering of 321 Florida StreetAscentris/DM Development
321 Florida, which is the first development for Denver-based Ascentris, is billed as just the second market-rate multifamily building with more than 28 units to break ground in San Francisco since 2023.
- The Mission (Urbanize SF)
