The big, fancy apartment complex atop the Downtown Whole Foods in the Financial District is slowly, steadily heading towards completion, expected to come in June. The Downtown News takes a look at the progress of this residential behemoth and its already fully functioning Whole Foods, and what's to come as the final phases of Eighth & Grand prepare to open.
When it's finished, the Carmel Partners project will have 700 apartments. There are two more waves of apartments still to open: In May, 236 apartments will debut, along with the complex's gym, screening room, and two courtyards. The last wave of apartments will open in June. 80 percent of the apartments have balconies and, when complete, the building's shared amenities will include a 3,370-square-foot "Sky Lounge," bar area, and pool on the roof.
The rents were predicted to be pricey, but have continued to inch upward. Now, the average rent in the complex is $2,800. Rents for studios start at $2,210 for a 516-square-foot studio. Three-bedrooms start at $4,305.
As steep as those rents might sound, people are paying them. Eighth & Grand is almost half-filled now (move-ins started in October) and full occupancy is expected in about a year, a rep for Carmel Partners tells the DN. Within the next year, the complex's three remaining retail storefronts are also expected to be rented out.