Stage 1075, a new 90-unit condo building at 1075 Market St., is now selling studio, one- and two-bedroom units expected to be ready for occupancy by February 2018.
The building’s name stems from the location’s history, according to Level Four Advisors, which is marketing the property. Most recently, the location was known as the Market Street Cinema from 1972 until its closure in 2013.
Before that, it housed Grauman’s Imperial Theater, a vaudeville theater, Premiere Theater in 1929, and United Artists Theater in 1931. In December 1971, the venue hosted the world premiere of Dirty Harry.
Prices start in the mid-$500,000s for 29 studios that average about 400 square feet.
The 49 one-bedroom units start in the mid-$600,000s, and 12 two-bedroom units, available in the $1 million range, are 1,100 square feet on average.
In keeping with the city's inclusionary housing requirements, there are 11 on-site, below-market-rate units: six one-bedrooms, four studios, and one two-bedroom, said Michelle Antic, a spokesperson for Level Four.
Developer Encore Capital Management and architect Levy Design Partners aimed to incorporate the building’s history into the new structure, Antic said. An original stained-glass window from Grauman’s is being refurbished and will span a whole wall in the entrance lobby, Antic said.
Although the pre-developed property wasn't an historical resource, Encore Capital Management consulted with the California Historical Society and determined that the stained glass was worth refurbishing.
The building’s facade also aims to reflect the site's history with a large-scale public arts piece by local blacksmith Daniel Hopper.
Forged, hollow, steel rings extend between the fourth and eighth floors and are surrounded by bright lights intended to reflect the theater marquee. The piece was installed with the help of Gizmo Art Production, Inc.
Hopper “seemed to really understand the essence of what we were envisioning in terms of relating the past theatre history to the present-day architecture,” Antic said.
The condos come with many amenities, including a doorman during business hours and package storage areas. The building will have a virtual doorman system to allow residents to monitor visitors when there is no attendant on duty, Antic said.
The rooftop deck will have barbecues, fire pits, and lounge chairs, and has an enclosed dog run. Some mid-level units will have private decks looking out onto a landscaped courtyard available to all residents that were designed by Chris Ford Landscape Architecture.
The garage includes limited parking, because the building is so transit- and pedestrian-friendly, Antic said. There will be ample bike storage and a bike repair station, as well as dog-washing stations in the garage.
There is also about 9,000 square feet of ground-floor retail space that has no prospective tenant at this time. The property managers are hoping to attract businesses that could be used or enjoyed by the building’s residents, Antic said.
With the recently-renovated One Jones sitting empty across the street and the 250,000 square-foot 6x6 mall still tenant-less just to its east, Stage 1075 could find it challenging to find any interested retail tenants.
The hope is that combined with the new Proper Hotel across the street, and the expected opening of the Yotel next door early next year, the new development will be the tipping point for mid-Market’s revitalization, Antic said.
