KB Home (NYSE: KBH), one of the nation's largest and most recognized homebuilders, today announced that it has acquired property at 72 Townsend in San Francisco and has started construction on a highly-anticipated nine-story glass and steel frame luxury condominium building. Located in the heart of San Francisco’s sought-after South Beach/SOMA district, the 74-unit building will provide its residents a lifestyle unique to any other location the city has to offer. KB Home’s entrance into this major metropolitan market represents a natural extension of the company’s urban focus and underscores the broad scope of the builder’s continued strategic expansion of its Bay Area operations.
A rendering of KB Home's 72 Townsend luxury condominium building in San Francisco. (Photo: Business Wire)
Featuring dynamic architecture, 72 Townsend will provide sweeping Bay views, concierge services, outdoor living spaces and other exclusive first-class amenities. Situated just blocks from major employers, as well as San Francisco’s world-class entertainment and nightlife, 72 Townsend epitomizes the essence of Bay Area living. Iconic city landmarks like AT&T Park, the Embarcadero, the future home of the Golden State Warriors and the financial district are all within a two-mile radius of 72 Townsend.
The development of 72 Townsend is currently underway, with a grand opening scheduled for summer 2014. The condominiums, penthouses and one exclusive townhome available at KB Home’s 72 Townsend will range between 810 and 2,859 square feet in size, with up to three bedrooms and two-and-a-half baths. Each residence will also include an underground parking space in the complex’s secured garage, adding to its appeal.
KB Home is one of the Bay Area’s most active homebuilders and has enjoyed many years of success building high-density, mid-rise, condominium and townhome-style communities throughout the region. Most recently, KB Home developed Vicino at San Jose’s Santana Row, The Preserve in Redwood Shores, Laterra in Hayward and Monte Vista in San Jose. The builder is actively selling new homes throughout the Bay Area, with plans for future growth in all of its served markets including San Francisco.