Lennar Corp. has announced the official opening of Madison, a luxury condominium project totaling 77 units in San Francisco. The property is situated within The San Francisco Shipyard, a master-planned community comprising four condominium collections.
In a market where the median price for condominiums exceeds $1 million, Madison’s homes start in the high $300,000, Lennar’s Director of Operations for the company’s Bay Area Urban division, Michael Hochstoeger, said in prepared remarks.
Located at 52 Kirkwood Ave., Madison includes one-bedroom, one-bath condominiums ranging in size from 514 to 826 square feet, while the studios range from the low- to mid-500 square feet. All units feature fully equipped kitchens, spacious walk-in closets and semi ensuite bathrooms with expansive windows and natural light. Madison’s condo units are designed to offer open floorplans to maximize space.
An amenity-rich community
Madison also includes Lennar’s Everything’s Included program, allowing residents access to additional, cost-free features such as stainless-steel kitchen appliances, energy-efficient electric washer and dryer, hardwood flooring, air conditioner and heater.
The community’s amenity package features a clubhouse, a fitness center, a greenbelt with lawn spaces, a barbecue area, a playground and on-site trails. Additionally, future homeowners will also have access to The San Francisco Shipyard’s amenities, which include a park overlooking the San Francisco Bay, multiple picnic areas, a large courtyard, bike storage facilities, dog washing stations, common-area lounges and fireplaces, among others.
Madison is situated within the Hunters Point neighborhood, close to multiple light rail stations and 5 miles from downtown San Francisco, 6 miles from the Financial District, 9 miles from San Francisco International Airport and within 10 miles of Golden Gate Bridge.
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Through its subsidiary, Quarterra Multifamily, Lennar is also expanding its multifamily portfolio. Earlier this summer, the company and its partner, the CPP Investment Board, have celebrated the topping out of The Dori, a 222-unit rental community in Doral, Fla.
Other luxury condo projects that have recently broken ground include THE WELL Bay Harbor Islands, a project that Terra is building in Miami. Plans call for an eight-story residential building with 54 condominiums and a 102,00-square-foot office component. Douglas Elliman Development Marketing is handling the sales effort.
In June, JP Roosevelt topped out a 50-unit luxury condominium project in Miami Beach, Fla. The building is expected to be completed in early 2024.
